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1. Interest under Section 158BFA(1) - No authority has power to reduce or waive the interest levied under Section 158BFA for the block assessment - HC

2. Penalty u/s 158BFA - Block assessment - De hors the surrender, there is no evidence which could have been said to have been found as a result of the search and,...

3. Block assessment - The requirement of notice under Section 143 (2) cannot be dispensed with - HC

4. Penalty u/s 271B - imposition of penalty u/s 271B is discretionary not mandatory as word used in section is "may" - no penalty if there is existence of reasonable cause.

5. Penalty under Section 158BFA (2) is not mandatory. - HC

6. Levy of penalty under section 158BFA(2) is discretionary and not mandatory - Undoubtedly, there was some material found during the course of search and additional income...

7. Undisclosed Capital gain - Scope of block assessment proceedings - AO is concerned only with undisclosed income and he has no power to consider material and evidence not...

8. Levy of penalty u/s 158BFA(2) - penalty has been levied on the amount of undisclosed income without providing any working of maximum and minimum penalty leviable - No penalty - AT

9. Search and seizure - Block assessment - it is vivid that for the purpose of initiation of block assessment proceeding against a third person in respect of whom search...

10. Interest u/s 158BFA(1) - the interest u/s 158BFA(1) should be charged upto the date of original assessment order, i.e., the expression “date of completion of assessment...

11. Block assessment u/s 158BD - Penalty u/s 158BFA(2) - Penalty is almost automatic unless it is covered by the proviso. In the present case, return was not filed by these...

12. Penalty under section 158BFA (2) - Block assessment u/s 158BC - Penalty imposed in the present case is not sustainable because the enhancement of undisclosed income by...

13. Levy of Interest u/s 158BFA(1) - Block assessment u/s 158BD - in case of the person other than searched person the notice under Section 158BD would be...

14. Block assessment - The notice u/s 158BC was issued by AO on 5th May, 2000, which was served on 08th May, 2000. The time limit for passing assessment for Block Period was...

15. Block assessment - Undisclosed income versus opening capital - block assessment - held that:- the said opening capital accrue to the assessees at a point of time...