https://www.taxtmi.com/caselaws?id=404762 Interim protection may be granted where continuation of assessment proceedings would undermine a pending statutory settlement application under Chapter XIX-A of the Income-tax Act, 1961. The court treated the pending Section 245C settlement process as creating real prejudice if the assessments were completed first, while noting that the settlement authorities retained discretion to admit, process, and, if needed, call for the assessment records. Because the statutory safeguard under Section 153B Explanation (i) prevented unfair prejudice to the Revenue, the refusal to stay the assessment notices was modified and interim stay was granted pending the writ petition. en-us Mon, 01 Mar 2021 00:00:00 +0530 Thu, 28 Oct 2021 09:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404762 Interim protection may be granted where continuation of assessment proceedings would undermine a pending statutory settlement application under Chapter XIX-A of the Income-tax Act, 1961. The court treated the pending Section 245C settlement process as creating real prejudice if the assessments were completed first, while noting that the settlement authorities retained discretion to admit, process, and, if needed, call for the assessment records. Because the statutory safeguard under Section 153B Explanation (i) prevented unfair prejudice to the Revenue, the refusal to stay the assessment notices was modified and interim stay was granted pending the writ petition. Case-Laws Income Tax Mon, 01 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404762