2024 (9) TMI 1525

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....m 1 April 2022, providing for a "procedure where an identical question of law is pending before High Courts or the Supreme Court". The object of this provision appears to be to avoid unnecessary litigation, when identical questions of law are involved either in the assessee's own case in respect of another assessment year or in the case of any other assessee for any assessment year when such issue is pending before the High Court or Supreme Court. The provision stipulates a procedure under which, inter alia, on a consent being granted by the assessee as provided for under sub-section (3) of Section 158AB any legal proceedings are kept in abeyance and depending on the outcome of the pending proceedings, a decision appropriate to a case is pe....

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....missioner (Appeals)] or the Appellate Tribunal, as the case may be. (2) The Principal Commissioner or the Commissioner shall, on receipt of a communication from the collegium under sub-section (1), notwithstanding anything contained in sub-section (3) of section 253 or clause (a) of sub-section (2) of Section 260-A, direct the Assessing Officer to make an application to the Appellate Tribunal or the jurisdictional High Court, as the case may be, in such form as may be prescribed within a period of one hundred and twenty days from the date of receipt of the order of the Commissioner (Appeals) or of the Appellate Tribunal, as the case may be, stating that an appeal on the question of law arising in the relevant case may be filed when....

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.... the date on which the order of the jurisdictional High Court or the Supreme Court in the other case is communicated to the Principal Commissioner or the Commissioner (having jurisdiction over the relevant case), in accordance with the procedure specified by the Board in this behalf. Explanation.-For the purposes of this section, "collegium" means a collegium comprising of two or more Chief Commissioners or Principal Commissioners or Commissioners, as may be specified by the Board in this behalf." (emphasis supplied) 3. The parties having taken recourse to the aforesaid provision, the present Miscellaneous Application has been filed. 4. The Revenue has contended that insofar as the assessee is concerned, there is pro....