2023 (4) TMI 490

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....cerned Assessing Officer is free to initiate recovery proceedings as per the relevant provisions of the Income Tax Act, 1961 [for short, 'IT Act'] and to recover the entire amount if there is failure to deposit the aforesaid amount. The first respondent, in issuing the Order dated 17.02.2023 [Annexure-A] has confirmed the second respondent-the Assessing Officer's [AO] order dated 07.01.2023 [Annexure-B] disposing of the petitioner's stay petition dated 20.10.2022. 2. The first respondent has reasoned thus while passing the impugned order [Annexure-A]. "The written submissions of the assessee have duly been considered. As regards the argument of the assessee that the assessment proceedings in his case got abated when on 10....

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....pplication for stay which is dealt with by the AO [the second respondent] and the first respondent as aforesaid. 5. Sri. Narendra Kumar Jain, the learned counsel for the petitioner, submits that the scrutiny proceedings, which commenced with the notice dated 27.09.2018 under Section 143[2] of the IT Act and was pending as of the date of search i.e., 10.10.2019, will irrefutably stand abated in view of the provisions of Section 153A of the IT Act and this should have been considered while considering the terms on which stay is granted. As against these submissions, Sri K V Aravind on behalf of the respondents, contends that, in the circumstances of the case, the proceedings would abate against the petitioner only if the limitation is reckon....

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....sdiction over such other person. The underlining is by this Court. 7. After some submissions in the light of the provisions of Sections 153A and 153C of the IT Act, and in the light of the assistance by Sri. T Suryanarayana, Sri. K V Aravind submits that the question whether the assessment for the relevant assessment year stood abated with the initiation of search [even if it could be under Section 153C of the IT Act] must be decided based on the date on which the petitioner's Assessing Officer received the assets seized, or requisitioned, in the search conducted on 10.10.2019. However, Sri. Narendra Kumar Jain hastens to add that any decision in this regard should essentially be based on whether the abatement should be considered und....