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2014 (12) TMI 188 - HC - Income TaxValidity of proceedings u/s 158BC – Notice not issued - Whether non-issuance of notice u/s 158BD would vitiate the proceedings initiated u/s 158BC – Held that:- The Tribunal rightly recorded that no search was conducted on the assessee, neither any warrant of search was issued in the name of assessee nor any Panchnama was prepared in the name of the assessee - no proceedings can be taken against the assessee u/s 158BC – there is no material difference between the notice u/s 158BD and notice u/s 158BC - the provisions of sections 158BC and 158BD are separate and distinct - The proceedings u/s 158BC can be initiated only on the assessee on whom the search was conducted and proceedings u/s 158BD are to be initiated where the concerned AO has received an information or intimation from Assessing Officer of the person on whom the search was conducted - no material was brought on record whether any intimation or information was received by the AO of the assessee from the AO of Nem Chand Gupta i.e. the person on whom search was conducted - the AO of the person searched and the AO of the assessee were the same as there is an order u/s 127 - Violation of the requisite and mandatory requirement would result in annulment of assessment u/s 158BD r.w. section 158BC – relying upon Commissioner of Income Tax vs. Calcutta Knitwears, Ludhiana [2014 (4) TMI 33 - SUPREME COURT] - the block assessment proceedings initiated u/s 158BD r.w. section 158BC is set aside – Decided against revenue.
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