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2011 (1) TMI 1112 - HC - Income TaxSearch and seizure - Block assessment - Assessing Officer assessed only the interest from these deposits as assessee's income and the deposit amounts in the names of the relatives were not assessed as undisclosed income of the assessee for the year 1992-93 which fell within the block period - Held that:- As decided in High Court in VISHWANATH PRASAD ASHOK KUMAR SARBAF Versus CIT AND OTHERS [2010 (4) TMI 445 - ALLAHABAD HIGH COURT] that income assessed in a block assessment under Section 158BC cannot be again brought to tax under Section 147 after the appellate authority cancels or modifies the block assessment - Assessing Officer has no jurisdiction to assess the very same amount, which was considered and given up while making block assessment. The income assessed under Section 147 i.e. the amount covered by deposit receipts maintained in Banks, were considered in the block assessment and at that time, the AO treated only interest income as income of the assessee and not the deposit amounts as such, as undisclosed income of the assessee. However, when the CIT (Appeals) cancelled the block assessment holding that Bank deposits were that of family members of the assessee and therefore interest income therefrom could not be assessed in his hands, the AO tried to bring to tax the deposit amounts itself by invoking the powers under Section 147. Even though block assessment under Section 158BC and income escaping assessment under Section 147 can probably be made for the same period, on different basis assessments could not be successively made one after another for the same period under these provisions based on the same materials - Decided in favor of the assessee
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