TaxTMI 
TaxTMI 
2022 (3) TMI 222
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....ion; (B) YOUR LORDSHIPS may be pleased to issue a writ of mandamus or a writ in the nature of mandamus or any other appropriate writ, order or direction quashing and setting the impugned show cause notice dated 15.09.2021; (C) YOUR LORDSHIPS may be pleased to issue a writ of mandamus or a writ in the nature of mandamus or any other appropriate writ, order or holding and declaring that the impugned show cause notice dated 15.09.2021 is in colourable exercise of power and is ultra vires the IT Act and violative of Articles 14 and 19(1)(g) of the Constitution of India; (D) Pending hearing and final disposal of this petition, YOUR LORDSHIPS may be pleased to stay the implementation and operation of the notice dated 15....
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....regard to the action of the respondent authority of initiating the proceedings under Section 142(1) of the IT Act. A show cause notice dated 15.09.2021 issued under Section 142(1) of the IT Act by respondent No.4, who according to the petitioner would have no authority or jurisdiction to initiate the proceedings for recovery in wake of the pendency of the matter before the Income Tax Settlement Commission and now before the newly constituted Interim Board of Settlement. 4. Issue urgent Notice, returnable on 25.10.2021. 5. In the meantime, interim relief in terms of prayer 9(D) is granted." 5 It is not in dispute that the writ applicant, as on date, is before the Settlement Commission under Section 245C of the Income Tax....
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....t copy of the receipt of Settlement Commission. In view of the subsequent developments, the Assessing Officer has not proceeded further and has kept the assessment proceedings in abeyance." 7 We take notice of Section 245F of the Act. Section 245F is with respect to the power and procedure of Settlement Commission. It reads thus: "245F. Powers and procedure of Settlement Commission (1) In addition to the powers conferred on the Settlement Commission under this Chapter, it shall have all the powers which are vested in an income- tax authority under this Act. (2) Where an application made under Section 245C has been allowed to be proceeded with under Section 245D, the Settlement Commission shall, until an order i....
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....ng the applicant to pay tax on the basis of self-assessment in relation to the matters before the Settlement Commission. (4) For the removal of doubt, it is hereby declared that, in the absence of any express direction by the Settlement Commission to the contrary, nothing in this Chapter shall affect the operation of the provisions of this Act in so far as they relate to any matters other than those before the Settlement Commission. (5) [***] (6) [***] (7) The Settlement Commission shall, subject to the provisions of this Chapter, have power to regulate its own procedure and the procedure of Benches thereof in all matters arising out of the exercise of its powers or of the discharge of its functions, incl....