TMI Blog2011 (2) TMI 758X X X X Extracts X X X X X X X X Extracts X X X X ..... E AJAY KUMAR MITTAL, JJ. Ms. Urvashi Dhugga, Sr. Standing Counsel for the appellant. ADARSH KUMAR GOEL, J ( Oral) . 1. This order will dispose of Income Tax Appeals No.492 and 443 of 2010 as both the appeal involve common questions. 2. ITA No.492 of 2010 has been preferred by the revenue under Section 260A of the Income Tax Act, 1961 (for short the Act ) against the order dated 4.9.2009 of the Income Tax Appellate Tribunal, Delhi Bench 'G', Delhi in I.T.A. No.95/Del/2008 for the block assessment period 1.4.1990 to 3.8.2000 raising following substantial questions of law:- i) Whether on the facts and in the circumstance of the case, the ld. ITAT was right in law in holding that the notice u/s 158BD issued on 23.9.2004 i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... having jurisdiction over the searched person i.e. Shri Manoj Aggarwal and M/s Friends Portfolio (P) Ltd. vide his letter No.181 dated 6.8.2003 has communicated his satisfaction to the Assessing Officer of this case (Annexure-A enclosed) and also in assessment order itself in the case of an M/s Friends Portfolio (P) Ltd. mentioned that unexplained deposits in its bank account relate to various persons who have taken accommodation entries and to protect the interest of revenue, he added the same to the income of the company i.e. and Friends Portfolio (P) Ltd., on protective basis? 3. Block assessment proceedings were initiated against the assessee on account of material found during the search on the residential and office premises of Ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me and requisite satisfaction had been formed. Similarly in ITA No.558 of 2006 (Commissioner of Income-Tax, Faridabad Vs. Navin Verma) decided on 1.2.2011, it has been held that if period specified in notice under Section 158BD was less than 15 days, the proceedings could not be held to be nullity in absence of prejudice to the assessee. Learned counsel for the revenue, thus, submits that the questions raised in both these appeals are fully covered by orders of this Court and the appeals deserve to be allowed. This being the position, we do not consider necessary to issue notice to the assesses since we are remanding the matter to the CIT(A) for fresh decision in accordance with law after hearing the assesses. 5. Accordingly, both the app ..... X X X X Extracts X X X X X X X X Extracts X X X X
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