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1 - 10 of 24 (0.35 seconds)Section 158BC in The Income Tax Act, 1961 [Entire Act]
Section 132A in The Income Tax Act, 1961 [Entire Act]
Section 132 in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Commissioner Of Income Tax vs Shri K.M.Ganesan on 30 November, 2009
30. The ld. DR for the revenue has failed to bring to our notice any
other decision to the contrary and in view of the ratio laid down by the
Hon'ble Madras High Court in the case of CIT Vs K.M.Ganeshan
(supra), we hold that the order passed under section 158BC read with
S e c t i o n 1 5 8 B D o f t h e A c t i s b e yo n d t h e p e r i o d o f l i m i t a t i o n , a s t h e
first notice under section 158BC(a) was issued on 21.06.1999 and the
notice issued under section 158BC(a) read with section 158BD of the
Act on 03.10.2000 was in line with the earlier proceedings initiated
and hence, the assessment had to be completed within a period of two
years from the end of the month of date of issue of last authorization
for search under section 132 of the Act. The order passed on
31.10.2002 is beyond the period of limitation and hence the same is
invalid. C o n s e q u e n t l y, t h e a d d i t i o n s m a d e v i d e t h e s a i d o r d e r p a s s e d
under section 158BC(a) read with section 158BD of the Act do not
stand and the same are hereby deleted.