undisclosed income under block
assessment. Though the issue of bogus sale and assessment of
undisclosed income under block assessment does not require any further
discussion ... Hina Produced during the
block period, Quantity wise details of items, produced during the
block period were submitted during the assessment proceedings
On the basis
Shri
Nirmal A.Banwani and late Shri P.M.Shah Block
Assessment orders u/s 158BC of the Act were passed
in these cases ... recorde d, the block
IT(SS) A No.23/Mum/2011
8 (Block p eriod 1.4 .1996 to 3 0.12.2 002)
assessment o rder passed
158BC of the Act was
completed for the Block period 1.4.1995 to 21.3.2002. This Block
assessment was completed on 28.11.2003 and the issues which ... assessment year 1999-2000)
from the end of the relevant assessment year. Thus, the
notices issued for all the assessment years (except for
the assessment
dated
20-12-2009 of CIT(A)-34, Mumbai arising from block assessment
under Section 158BD for the block period ... considering `.1,28,12,145/- as "Undisclosed Income" for Block
Assessment Period u/s 143(3) r.w.s. 158BD
AGTAP(AM)
IT(SS)A No.71/Mum/2007
(Block Assessment Period 1991-92 to 2001-02)
Dy. Commissioner of M/s Janata Glass Works ... rder dated 22.2.2007 passed by the ld.
CIT(A) for the Block Assessment Period 1991-92 to
2001-02.
2. Briefly stated facts
value of
the properties owned by the assessee company while completing
block assessment under section 158BC.
2. There was search and seizure operation under section ... made an addition of
`.103,09,32,270/- in the block assessment.
4. Before the CIT (A) it was contended that the Assessing
Officer
care of the assessment to be made in cases of
search & seizure. Such an assessment was popularly known as 'block
assessment' because ... assessee to furnish returns for each assessment year falling
within the six assessment years immediately preceding the
assessment year relevant to the previous year
2008 for the block period from 09.09.1996 to
09.01.2010 dated 30.03.2011 wherein on similar facts the ITAT
quashed the block assessment order following the judgment ... pari materia with the provisions of section 158BD
(in the block assessment procedure).
11. The Hon'ble Supreme Court in the case of Manish
block period from
01.04.1990 to 14.12.2000 was within 15 days instead of not less than
15 days and therefore the block assessment ... computation of undisclosed income for the block period and 158 BC
provides for procedure for block assessment. Therefore, a notice under
Section 158 BC provides
fresh entry in his
books. During the course of block assessment proceedings, the
assessee was also questioned by the AO on this point, in response ... prepared again for
discounting with the bank. During the course of block assessment
proceedings, the AO also found that further purchases
