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2010 (4) TMI 388 - HC - Income TaxSearch and seizure- Block Assessment- Notice under section 158BD was served on the assessee on January 8, 2004. The period of limitation for completion of block assessment in the case of other persons referred to section 158BD under clause (b) of sub-section (2) of section 158BE is two years from the end of the month in which the notice under section 158BE read with section 129 of the Act. The assessment was completed on February, 2006. The department claimed that since the present Assessing Officer started the proceeding on Dec. 2005, limitation stood extended upto February 3, 2006 and the case did not get time barred. The Commissioner (Appeals) annulled the order of the Assessing Officer on the ground that it was time barred. The Tribunal set aside the order of the Assessing Officer on the ground that there was a bonafide mistake on the part of the Assessing Officer. Held that- the tribunal had no power to bypass the provision of limitation by treating the assessment made beyond limitation as bonafide mistake on the part of the Assessing Officer and liable to be condoned. The assessment order was barred by limitation.
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