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2004 (3) TMI 21 - HC - Income TaxNotice issued under section 158BD – petition submitted that within a period of two years from the date of completion of search and seizure ending on November 21, 2000, proceedings could have been initiated against the petitioner under section 158BD. But that having not been done the proceedings, having been initiated on July 24, 2003, are required to be quashed as being time-barred – petitioner submitted that he was called upon to file the return within 15 days of service of notice while under section 158BC, it becomes clear that a notice is required to be served requiring him to furnish the return within such time not being less than 15 days - Further submission is that the notice has been issued on July 24, 2003, and, therefore, the block assessment period should be a block period of six years and not ten years as claimed by the Revenue - Held that the Assessing Officer will consider the provisions and shall pass an appropriate order.
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