2002 (12) TMI 58

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....being disposed of by a common order. The admitted fact is that the respondent-income-tax authorities conducted a search and seizure operation on the premises of Nalanda X'ray and Scan Research Centre, Patna, as well as the residence of Dr. S. N. Prasad, and his wife, Dr. (Mrs.) Santosh Prasad, on April 10, 1994. During the course of search, cash, gold ornaments, chemicals and other documents were seized in the joint names of Dr. S. N. Prasad, and his wife, Dr. (Mrs.) Santosh Prasad. They approached the Settlement Commission for settlement of the cases for the assessment years 1987-88 to 1995-96 under section 245C of the Income-tax Act (for short "the Act") and the Settlement Commission (IT and WT), Additional Bench, Calcutta, vide its or....

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....h the letters dated August 12, 2002, in the case of Nalanda X'ray and Scan Research Centre and August 27, 2002, in the other cases, copies of which have been appended as annexure "7" series in all the three cases. The said demand notices have been challenged by the petitioners in all the three cases on the ground that once the Settlement Commission has determined the tax and the interest payable thereon and the Assessing Officer made the calculation in terms of the said order vide annexure 2 in all the three cases, and thereafter the petitioners made the payment, the Assessing Officer subsequently cannot issue a further demand notice with regard to the said period in pursuance of the order of the Settlement Commission. The stand of th....