NILESH HEMANI Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) EXEMPTION is allowed.

(2.) WE are not inclined to stay the impugned notice under s. 158BC of the IT Act, issued by Dy. CIT, Central Circle 39, Mumbai on 28th January, 1998. It will be open to the petitioner to take such pleas along with the return as are open to him in law. The assessing authority shall consider the contentions raised by the petitioner in accordance with law uninfluenced by anything stated by the learned Single Judge in his order, dt. 8th May, 1998, in WP No. 878/99 and the Division Bench in the order under challenge, dt. 16th December, 1999. List after service of notice is complete.