TMI Blog2009 (11) TMI 572X X X X Extracts X X X X X X X X Extracts X X X X ..... -2009 - RAVIRAJA PANDIAN K., SUNDRESH M. M., JJ. JUDGMENT K. Raviraja Pandian J.- The correctness of the order of the Income-tax Appellate Tribunal, Madras "B" Bench dated June 12, 2009 made in I.T.A. No. 103/Mds/2007 is canvassed in this appeal at the instance of the Revenue by formulating the following question of law : "Whether on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in holding that, proceedings under section 158BD are time barred when the assessment was completed within two years from the end of the month when the notice under the correct section was issued." 2. The facts : (i) The assessee is a real estate broker. During the course of search in the case of one ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... different view than the one taken by the Commissioner of Income-tax (Appeals) dismissed the appeal filed at the instance of the Revenue.(iv) Not satisfied with the concurrent orders of the authorities below, the Revenue filed the present appeal under section 260A of the Income-tax Act, 1961, by formulating the above stated question of law. 3. We have heard Mr. Naresh Kumar, learned counsel appearing for the Department and perused the materials available on record. 4. The facts are not much disputed. The dates of the relevant notices are as follows : The notice under section 158BC was issued to the assessee on July 27, 1999. After noticing that the warrant was not issued in the name of the assessee, a fresh notice under section 158BC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hority to be cited. 5. In Sakthivel Bankers v. Assistant Commissioner reported in [2001] 255 ITR 144 (Mad), a search was conducted in the premises of one L and certain documents were recovered during that search, which included documents pertaining to eight firms in which L and his wife were partners and also certain documents concerning his wife. L gave a statement offering a sum of Rs. 125 lakhs as undisclosed income and pleaded inability to furnish the names of persons in whose favour credits had been entered in the books of account of those firms. An order was passed. On further appeal the Tribunal passed an order of remand. On further appeal to the High Court, the High Court held that L knew the purpose for which the notice was iss ..... X X X X Extracts X X X X X X X X Extracts X X X X
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