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2016 (3) TMI 1212 - HC - Income TaxReopening of assessments - whether since action under Section 158BC (a) is already taken in pursuance to search and seizure operations, no parallel proceedings can be started under Section 147 in relation to the same issue? - Held that:- The validity of the said search proceedings and the consequential notices issued to the Petitioners was the subject matter of WP which was dismissed by this Court [2006 (12) TMI 77 - HIGH COURT, DELHI] and against the said order, SLP was filed by the Petitioners [2016 (4) TMI 1133 - SUPREME COURT], in which notice was issued by the Supreme Court and it was directed that the audit under Section 142 (2A) of the Act may go on, but no final assessment order shall be passed. It is stated that Civil Appeal arising out of the aforementioned SLP is likely to be heard finally in the near future. In the present petition, while issuing ‘Rule DB’ on 16th July 2002, further proceedings under Section 147 of the Act against the Petitioners was stayed.Since the outcome of the above appeal in the Supreme Court will have a bearing on the aforementioned ground urged in the present petition, it is considered appropriate to await the decision of the Supreme Court.
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