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2010 (11) TMI 366 - HC - Income TaxSearch and seizure - Block assessment - Undisclosed income - It is specifically provided that such other Assessing Officer to whom the file is transferred shall proceed for assessment under section 158BC and the provisions of Chapter XIV-B are applicable for such assessment - In the normal course, an assessment in such cases could be initiated against such other assessee about whose income materials are gathered by the Department by making income escaping assessment under section 147 of the Act, which in many cases may be time barred - there is no mention in section 158BD that the Assessing Officer before transferring the file to another officer having jurisdiction to assess the person other than the assessee proceeded under section 132 or 132A has to record his satisfaction in writing - The reasons and materials based on which undisclosed income is proposed to be assessed should be communicated to the assessee when assessment is made based on the return filed which is a step after issuing notice and after receipt of return - So much so, issuance of notice under section 158BD read with section 158BC is sufficient for initiation of assessment which in this case is admittedly done and the assessee has filed return in Form 2B in terms of notice issued - Decided against the assessee
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