2013 (10) TMI 217

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....roceed with. 2. Briefly stated, the facts are that respondent no.2 was engaged in the business of processing and trading of diamonds. Search and seizure proceedings were carried out on the business premises of respondent no.2 at Surat and Mumbai as well as residential premises of its partners. Assessment for the block period was framed by the Assessing Officer. At that stage, the assessee approached the Settlement Commission by filing an application for settlement. However, the department objected to such application on various grounds. After considering the objections of the department, the Settlement Commission by impugned order dated 06.11.2002 allowed the application to be proceeded further. The Commission, in such order, observed as....

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....clause (3) of section 245D of the Act. Therefore, at this stage the prayer for interim relief is not pressed.      2. In the above facts and circumstances, we do not find it necessary to pass any order at this stage and accordingly the matter is ordered to be listed for final hearing in regular course." 4. We are informed that though this Court granted liberty to the Commission to proceed further so far duty of differences, the Settlement Commission has not taken any final decision. 5. Having heard learned counsel for the parties, we do not see any reason to interfere with the order passed by the Settlement Commission. We noticed that section 245C of the Income-tax Act, 1961 pertains to application for settlemen....