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2009 (4) TMI 306 - HC - Income TaxBlock assessment - Tribunal has held that the assessment completed was within the period of limitation - contention on behalf of the appellant is that in his own case, that is, Rajesh Ku mar v. Deputy CIT [2008 - TMI - 6548 - SUPREME Court], the apex court had ruled in his favour, that opportunity of hearing has to be granted to the assessee before proceeding under section 142(2A). Thus, according to the petitioner, the impugned assessment framed under section 158BC of the Income-tax Act by the Assessing Officer is barred by limitation within the meaning of the provisions contained in section 158BE read with section 142(2A) – Held , dismissing the appeal that the SC had subsequently in another decision upheld the decision of the asssessee’s own case but had clarified that its ruling on the question of law would apply prospectively and that it would not be open to the appellants to urge before the appellate authority that the extended period of limitation under Explanation 1(iii) to section 153(3) of the Act was not available to the Assessing Officer - The decision of the learned Appellate Tribunal based on Sahara India (Firm) is held to be valid.
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