Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (7) TMI 1361 - AT - Income TaxBlock assessment u/s 158BD - whether the assessee has right to file an application under Rule 27 of the ITAT Rules? - HELD THAT:- As relying on SMT. GURINDER KAUR. [2006 (6) TMI 144 - ITAT DELHI-A] we admit this application under Rule 27 of the ITAT Rules as the assessee has raised a ground before the ld CIT(A) and the ld CIT(A) discussed the issue but had not given a decision on the same. Whether notice barred by limitation ? - “immediate” or immediately proximate - HELD THAT:- On merits we find that the block assessment in the case of M/s Bemco Jewellers P Ltd was completed on 29.08.2002 u/s 158BD consequent to search conducted on 03.08.2000. Notice u/s 158BD was issued to the assessee on 10.02.2006. Thus the period of more than three years has elapsed since the completion of the assessment in the case of M/s. Bemco Jewellers Pvt. Ltd. As relying on Calcutta Knitwears [2014 (4) TMI 33 - SUPREME COURT] we hold that the period of above three years cannot be considered as “immediate” or “immediately proximate” in point of time to the completion of the block assessment u/s 158BD. In consequently we hold that the assessment itself is bad in law. Thus this application under Rule 27 of the ITAT Rules is allowed. Appeal of the revenue is dismissed.
|