Section 158BC in The Income Tax Act, 1961
158BC. Procedure for block assessment.
- Where any search has been conducted under section 132 or books ... undisclosed income of the block period in accordance with this Chapter, shall pass an order of assessment and determine the tax payable
block period
ending 10.02.2000. In compliance, the assessee filed its return of income
for the block period from 01.04.1989 to 10.02.2000. The Block Assessment ... ruled out from block assessment procedure even in the case of
assessment of block period. It was, nevertheless, an assessment on the
total income
where an assessment of undisclosed income had been made earlier under clause (c) of section 158-BC, on the basis of such assessment. Explanation ... against the undisclosed income determined in the block assessment under this Chapter, but may be carried forward for being set off in the regular assessments
Income Tax Act, 1961
158BE. Time-limit for completion of block assessment.
- [(1) The order under section 158-BC shall be passed,- (a) within ... January, 1997. (2) The period of limitation for completion of block assessment in the case of the other person referred to in section
Income Tax Act, 1961
113. [ Tax in the case of block assessment of search cases. [ Inserted by Act 22 of 1995, Section ... total undisclosed income of the block period, determined under section 158-BC, shall be chargeable to tax at the rate of sixty per cent.] [ Substituted
poser is as to
whether it was possible to make the block
assessment with the addition of levy of
surcharge, in the absence of proviso ... proviso was added, whether
surcharge was payable in respect of block
assessment or not, was totally ambiguous and
unclear. The Court pointed out that some
assessment is in addition to regular assessment,
and what is included in regular assessment, cannot
be assessed again in the course of a Block ... addition to the regular assessment
already done or to be done. The assessment for
the block period can only be done on the basis
assessment. [Substituted by Act 14 of 1997, Section 7, for Section 158-BG (w.r.e.f. 1.1.1997).]
- The order of assessment for the block
2003 are cross appeals arising out of the block assessment made under Section 158BC of the Act by order dated 29.8.2002. The assessee, Manoj Aggarwal ... dale of the search, comprised in the block period.
10. In the block assessment, apart from the addition for commission earned on accommodation entries
separate return covering the years of the block period is a pre-
requisite for making block assessment. Under the said procedure,
Explanation is inserted ... whereas computation of undisclosed
income of the block period falls in Section 158BB and procedure
for block assessment falls in Section 158BC. In this case
