https://www.taxtmi.com/caselaws?id=214947 The court allowed the writ petition, quashing all assessment proceedings post the search and seizure, and ordering the prompt release of seized assets and bank guarantees to the petitioner. The abatement of proceedings before the Settlement Commission shifted the responsibility to the Assessing Officer to complete the assessment within the extended timeframe provided by the amendment in the Finance Act, 2007. The court emphasized strict adherence to statutory limitations for passing assessment orders, declaring all subsequent assessment proceedings null and void in favor of the petitioner. en-us Fri, 20 Aug 2010 00:00:00 +0530 Fri, 20 Jul 2012 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214947 The court allowed the writ petition, quashing all assessment proceedings post the search and seizure, and ordering the prompt release of seized assets and bank guarantees to the petitioner. The abatement of proceedings before the Settlement Commission shifted the responsibility to the Assessing Officer to complete the assessment within the extended timeframe provided by the amendment in the Finance Act, 2007. The court emphasized strict adherence to statutory limitations for passing assessment orders, declaring all subsequent assessment proceedings null and void in favor of the petitioner. Case-Laws Income Tax Fri, 20 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214947