TMI Blog2002 (9) TMI 73X X X X Extracts X X X X X X X X Extracts X X X X ..... : "that the notices issued under section 143(2) were in respect of the regular assessment and the Assessing Officer was within his jurisdiction to proceed with the same as per section 143(3) and make a regular assessment of the total income/loss of the previous year for the assessment year 1995-96 notwithstanding the fact that the said previous year was included in the block period for the purpose of assessment of the undisclosed income and that such assessment was already done and was the subject-matter of challenge before the Tribunal". We agree with the reasons given in the above cases and hold that there is no bar for continuing the regular assessment including the block period. - - - - - Dated:- 27-9-2002 - Judge(s) : S. SANKARASUBB ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... conducted by the Department under section 132 of the Act, the assessments of the income detected as a result of search and seizure are to be completed under the new provisions of Chapter XIV-B introduced in the Act in 1995. Under the new procedure for assessment of undisclosed income, the undisclosed income was spread over of ten previous years called block years and after deducting whatever income is assessed/disclosed by the assessee the balance will be subjected to 60 per cent. tax leaving 40 per cent. to the assessee according to section 113 of the Act. The grievance of the petitioner in the original petition is that the second respondent-Assessing Officer is trying to by-pass the provisions of law by ignoring Chapter XIV-B and making ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ear 1993-94. A liberty was given to the Department to proceed with the assessment against the petitioner for the year 1993-94. It was directed to be kept in abeyance till the disposal of the original petition. The learned single judge, after hearing the parties, quashed exhibit P4. The learned single judge took the view that since the proceedings have been taken under section 132, the assessment should be only had under Chapter XIV-B of the Act. It was in the above view that the original petition was allowed and exhibit P4 was quashed. It is against that the present writ appeal is filed. Learned counsel for the Revenue, Sri P.K.R. Menon, contended that the judgment of the learned single judge is wrong. According to him, the initiation of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny one or more of the relevant assessment years is pending or not. Explanation.-For the removal of doubts, it is hereby declared that- (a) the assessment made under this Chapter shall be in addition to the regular assessment in respect of each previous year included in the block period; (b) the total undisclosed income relating to the block period shall not include the income assessed in any regular assessment as income of such block period; (c) the income assessed in this Chapter shall not be included in the regular assessment of any previous year included in the block period;" Learned counsel took the view that when proceedings are taken under Chapter XIV-B, no other assessment proceedings can be taken for the years. According t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... isions of Chapter XIV-B are pending". A Division Bench of the Gujarat High Court in N.R. Paper and Board Ltd. v. Deputy CIT [1998] 234 ITR 733, had an occasion to consider the matter in details and held as follows: "that the notices issued under section 143(2) were in respect of the regular assessment and the Assessing Officer was within his jurisdiction to proceed with the same as per section 143(3) and make a regular assessment of the total income/loss of the previous year for the assessment year 1995-96 notwithstanding the fact that the said previous year was included in the block period for the purpose of assessment of the undisclosed income and that such assessment was already done and was the subject-matter of challenge before the Tri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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