Court cannot exercise discretionary jurisdiction to restrain Tax officer from assessment proceedings

DNH Spinners Private Limited. Vs DCIT (Bombay High Court) Bombay High Court held that Court cannot exercise its discretionary jurisdiction to restrain income tax officers from proceedings with assessment proceedings where huge unaccounted income in accommodation entry has been detected. Facts- A search action u/s. 132 of the Act was initiated in the case of Alok Kumar Agarwal, Ankit Agarwal, M/s. Alankit Limited and M/s. Alankit Assignments Limited, Delhi. During the course of the assessment proceedings u/s. 153A of Alankit Group, materials/documents which has bearing on deciding the total inc...