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2014 (1) TMI 1237 - HC - Income TaxBlock assessment - Application of section 147/148 of the Act - Whether sections 147/ 148 of the Income Tax Act, 1961 (the Act) providing for reassessment are applicable to the block assessment under Chapter XIVB of the Act or not – Held that:- In case sections 147/ 148 of the Act are applicable to the block assessment, it will amount to reassessment of the reassessment proceeding - Section 147 of the Act has not used the word 'the block period' - The reason seems to be simple that the block assessment itself is the re-assessment proceedings - There was no necessity for providing reassessment of the reassessment proceedings - Cargo Clearing Agency (Gujarat) v. Joint Commissioner of Income Tax [2008 (8) TMI 86 - GUJARAT HIGH COURT] sections 147/ 148 of the Act are not applicable to the assessment under Chapter XIVB of the Act – Decided against Revenue.
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