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2015 (12) TMI 964 - AT - Income TaxAssessment under section 158BC(c) - non issue of notice - whether issuance of notice happens to be within the statutory limitation of one year? - Held that:- A perusal of section 143(2) proviso as it existed being substituted w.e.f. 1.4.2008 makes it clear that no notice under clause (ii) of Section 143(2) shall be served after the expiry of twelve month from the end of the month in which the return is furnished. The expression “served” in our view happens to be much distinct than the expression “issued”. We make it clear that the present is a tax statute wherein such expressions used have to be literally interpreted. We are of the opinion that the word “shall” used in the provision also highlights the expression to be of mandatory character. A co-ordinate bench of the tribunal in the case of ITO Vs. Shri Dinesh B. Gandhi [2015 (12) TMI 756 - ITAT AHMEDABAD] has rejected a similar argument of the Revenue wherein the very dates of return followed by issuance and service of section 143(2) notices were involved. The Revenue’s fails to point out any distinction on facts or law. We accordingly reject its first contention.- Decided in favour of assessee. Whether Section 158BC in chapter XIV-B is a complete code in itself wherein section 143(2) does not apply in toto? - Held that:- Section 158BC(b) clearly stipulates the procedure to be followed by an Assessing Officer in determining undisclosed income of the relevant block period in the manner laid down in section 158BB and the provisions of 142 and 143(2) and (3) etc. We accordingly reject this second argument as well. The Revenue’s sole substantive ground fails. The CIT(A) order quashing the impugned assessment on the ground of validity of section 143(2) notice stands upheld. - Decided in favour of assessee.
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