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2011 (11) TMI 213 - HC - Income Tax
Block Assessment - Interpretation of Word "Abatement" - "only assessment pending" as on the date of search are abated and not the "assessment completed" or 'appeal pending'. Held That:- according to the second proviso of Section 153A, only the pending assessment or reassessment is to abate. Appeal filed before the ITAT is not continuation of the proceedings of assessment. He submits that in pursuance to the assessment order under Section 143 (3) a penalty of Rs. 97,85,925/- was imposed under Section 271 (1) (c) of the Act. If the interpretation given by the ITAT is to be accepted, the entire proceedings of penalty will also abate giving an unreasonable advantage to the assessee, insptie of adverse findings inviting penalty. Thus Decided against assessee.