TMI Blog2022 (12) TMI 702X X X X Extracts X X X X X X X X Extracts X X X X ..... before the High Court. Nothing was on record that, in fact, the notice under Section 154 of the Act was withdrawn on the ground that the same was beyond the period of limitation prescribed under Section 154(7) of the Act. In the absence of any specific order of withdrawal of the proceedings u/s154 of the Act, the proceedings initiated under Section 154 of the Act can be said to have been pending. In that view of the matter, during the pendency of the proceedings u/s 154 of the Act, it was not permissible on the part of the Revenue to initiate the proceedings u/s 147/148 of the Act - The High Court has erred in presuming and observing that the proceedings u/s 154 were invalid because the same were beyond the period of limitation. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the ground that, in the earlier year, the export was not materialized and therefore, the proceedings under Section 154 of the Act were initiated by the Department, vide notice dated 23.01.2002. During the pendency of the said proceedings, the Department also initiated the proceedings under Section 147-148 of the Act and reopened the assessment for the A.Y. 1996-97. The Assessing Officer passed the Assessment Order. The same was carried before the ITAT. The ITAT quashed and set aside the assessment proceedings which were re-opened under Section 148 of the Act by holding that as the proceedings under Section 154 initiated against the assessee were pending, no re-opening proceedings under Section 147/148 of the Act could have been issued/ini ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the proceedings initiated under Section 154 of the Act can be said to have been pending. In that view of the matter, during the pendency of the proceedings under Section 154 of the Act, it was not permissible on the part of the Revenue to initiate the proceedings under Section 147/148 of the Act pending the proceedings under Section 154 of the Act. The High Court has erred in presuming and observing that the proceedings under Section 154 were invalid because the same were beyond the period of limitation. In view of the above and for the reasons stated above, the impugned judgment and order passed by the High Court is unsustainable and the same deserves to be quashed and set aside. The impugned judgment and order passed by the High Co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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