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2022 (2) TMI 1151 - HC - Income TaxReopening of assessment u/s 147 - correctness and validity of the “reason to believe” - Petition filed by the petitioners assailing the search and seizure proceedings followed by the assessment carried out and the demand raised by the respondent-authorities - HELD THAT:- Petitioners in the matter including assessment and the demand notices, we find that the search and seizure was carried out way back in the year 2018 which culminated in passing the orders of assessment in the year 2021 - Petitioners have filed appeal before the Appellate authority exercising their right of appeal. While the appeal is pending for last many months, the petitioners seek to invoke the jurisdiction of this Court. While the jurisdiction of this Court to examine the correctness and validity of the order cannot be disputed, at the same time, we are not inclined to exercise our discretionary jurisdiction to entertain the dispute brought before us for the reason that there is not only an alternative remedy available to the petitioners under the law but that remedy has been invoked by the petitioners and the appeal is pending consideration. The argument of petitioners that the explanation to the provision contained in Section 132 may not allow the Appellate authority to dwell into the reasons on which the authority initiated the search and seizure proceedings, in our opinion, would not in any manner affect the jurisdiction of the Appellate authority to examine the legality and validity of the order of assessment and demands on its own merits and decide the same in accordance with law. We are not inclined to go into the merits of the dispute raised in this petition. We leave it to the petitioners to pursue the appeal which is pending consideration before the Appellate authority. We are inclined to direct the Appellate authority to decide the petitioners’ appeal within a period of three months from the date of receipt of the copy of this order. The contention made by the petitioners before this Court including the challenge to the aspect of “reason to believe and satisfaction” shall be examined as permissible under the law.
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