action in bringing the impugned additions within the purview of block assessment under
Chapter XIV-B was in accordance with ... block period;
(b) the total undisclosed income relating to the block period shall not include the
income assessed in any regular assessment as income
158BA , the b lock
assessment is in addition to regular assessment and it is not in
place of regular assessment. If an officer starts disallowing ... additions made in the block assessments. Since the matter was
considered by CIT (A) in the block assessment
Block period: 1997-98 to 2002-03
business receipts. The Assessing Officer has
discussed this issue in para 7 to 15 of the block
assessment ... assessment order quoted
below and para 13.7 of the assessment order which reads as
24
ITA No. 647/PN/04
Sairang Developers
Block period
Income-tax Act, 1961-for the Block period 1.4.1996 to
13.8.2002 -regarding.
The record of block assessment leading to passing of order u/s 158BC ... completing fresh assessment then it will not take
away the jurisdiction of CIT to revise the assessment and also block
assessment by exercising his power
Parmanand
Punjabi i.e. the assessee. However, during the course of block
assessment of Shri Devendra Gajendranath Chaturvedi, he denied the
above statement as having ... above
notice. The assessee furnished his return of income for block assessment
on 31-03-2005 declaring undisclosed income at Rs. Nil. Further, a notice
2005 in the case of
Shri Satyanarayan J.Kabra. The block assessment was framed by the ACIT, Central
Circle-1(4) Ahmedabad u/s 158BC ... prior
to the block periods and accordingly the investment in said shares are outside
the purview of block period assessment proceedings and beyond the
jurisdiction
block assessment under section 158BC is in
addition to the regular assessment and not in substitution of the regular
assessment and in the block assessment ... block assessment proceedings than in regular assessment proceedings,
in view of the fact that while regular assessment is made of income,
block assessment is made
undisclosed income
for the block period. In view of the above facts recorded by the Assessing officer in
the block assessment order ... undisclosed income of the block period and the Section 158BB(1) has been
amended to clarify that the block assessment of undisclosed income is based
notice. The assessee filed its Block Return on 27.6.1997 declaring
an undisclosed income at Rs.NIL. Original block assessment was completed
u/s 158BC ... course of
assessment proceedings. The said assessment order is,
therefore, illegal and bad in law.
16. That the Block Assessment order passed
filing Block
Return for the block period 01-04-1988 to 25-09-1998 and assessee filed block
return declaring loss ... loss at Rs.10,36,988/-. The Assessing
Officer during the block assessment proceedings noticed from the loose paper
inventorized as Annexure-A/1 page
