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TMI Blog2024 (9) TMI 1055X X X X Extracts X X X X X X X X Extracts X X X X ..... d WPO/280/2018 IA NO: GA/1/2019 (Old No:GA/2397/2019) IA NO: GA/1/2019 (Old No: GA/2397/2019) - - - Income Tax - Two simultaneous proceedings - Income Tax Act and Black Money Act - Money on account of alleged undisclosed foreign income and assets - whether proceeding should be initiated under the Income Tax Act or Black Money Act or under both? - petitioner submits that both the authorities canno ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to mention. - THE HON'BLE JUSTICE MD. NIZAMUDDIN For the Appellant : Mr. J.P. Khaitan, Sr. Adv., Mrs. Manju Agarwal, Adv. And Mr. Bajrang Manit, Adv. For the Respondent : Mr. P.K. Bhowmick, Adv. And Mr. Ashok Bhowmick, Adv. ORDER The Court: Heard learned Advocates appearing for the parties. In these matters, the subject matter of challenge is the money amounting to Rs. 4.52 Crores on account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the notice of this Court that against the very same money, by the leave of this Court by the order dated 24th September, 2021, petitioners have already approached the Income Tax Settlement Commission and the proceeding before the Income Tax Settlement Commission is pending due to stay granted by this Court which has been extended till 25 th February, 2022, Settlement Commission is not proceedin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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