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2012 (6) TMI 259 - AT - Income TaxValidity of notice u/s 148 – block assessment order u/s 158BC - Held that:- Hon'ble High Court has given liberty to issue notice as per law which means that if the notice fulfils the other conditions laid down in the Act, the Assessing Officer can issue notice, afresh. Otherwise also, the very section 147 of the Act empowers the Assessing Officer to initiate re-assessment action in respect of escaped income within the prescribed time, and no authority can stop him for doing so. after striking down the directions of the ld. CIT(A) and the liberty was only for issuance of notice u/s 148 of the Act which the Assessing Officer otherwise possesses. reasons recorded are the same and identical on the basis of which action u/s 147/148 was initially initiated. So, on the basis of same reasons which have already been quashed by the Tribunal, notice issued u/s 148 would not survive. When the particular direction/liberty has been quashed by the Tribunal such a direction no longer survives. no provision in law to take action u/s 147 under the direction of any authority or Court. appeal of the Revenue stands dismissed.
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