Settlement Proceedings do not invalidate assessments passed under Court’s interim liberty

Dhanalakshmi Srinivasan Sugars Private Limited Vs DCIT (Madras High Court) Conclusion: Assessment orders passed pursuant to express liberty granted by the High Court during pendency of settlement-related litigation remain valid and enforceable. Mere keeping of demand in abeyance did not invalidate already communicated assessment orders, nor did it require passing of fresh assessment orders after rejection or abatement of settlement proceedings. The Court dismissed the writ petitions challenging the assessment orders and the subsequent recovery notices involving a tax demand exceeding Rs. 700 ...