TMI Blog2012 (6) TMI 202X X X X Extracts X X X X X X X X Extracts X X X X ..... which the search is initiated under Section 158-BC. in the case of CIT v. Vatika Township (P.) Ltd. (2009 (1) TMI 217 (SC) ) after referring to the aforesaid Supreme Court Judgment, have referred the said matter to a Larger Bench. Accordingly, the matter is referred to the Larger Bench. order of the Tribunal set aside and matter remanded to the assessing authority with a direction to await the Ju ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ld as under:- "37. According to the assessee, prior to 1st June, 2002, the position was ambiguous as it was not clear even to the Department as to which year's FA would be applicable. To clear this doubt precisely, the proviso has been inserted in S.113 by which it is indicated that FA of the year in which the search was initiated would apply. Therefore, in our view, the said proviso was clarifi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e four ambiguities. Therefore, clarification was needed. The proviso was curative in nature. Hence, the proviso inserted in S.113 merely clarifies that out of the above four dates, the relevant date for applicability of FA would be the year in which the search stood initiated under S.158BC." Therefore, the Apex Court has held that such a proviso is curative in nature and it merely clarifies that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In our view, the appropriate course would be to set aside the order of the Tribunal and remit the matter to the assessing authority with a direction to await the Judgment of the Apex Court consequent to the order to be passed by the Larger Bench to that effect. 2. Hence, the appeal is allowed. The impugned order is set aside. The order passed by the assessing authority and the Commissioner is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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