JUDGMENT
We have heard learned counsel for the parties.
2. With respect to the assessment year 1995-96 the notice for reopening under section 148 of the Income Tax Act was given on 14-5-1997. The assessing officer passed a order completing the assessment on 10-3-2000. It was annulled by the order of Commissioner (Appeals) dated 5-6-2000. The department preferred an appeal before the ITAT against the said order which is still pending. During the pendency of the said appeal the department has issued notice under section 148 to the petitioner.
3. Considering the facts and circumstances the case, we consider it appropriate to stay the proceedings initiated by notice dated 7-6-2001 under section 254(2) of the Income Tax Act until the decision of the appeal preferred by the department which is pending before the ITAT. The matter will be called on an application by either of the parties as and when the appeal pending before the ITAT is disposed of.