Law: Income Tax Act, 1961

Section: 158B

Section 158B, read with section 132, of the Income-tax Act, 1961 - Block assessment in search cases - Undisclosed income of any other person (Limitation period) - Authorised Officer conducted search under section 132 on 24-8-1998 and concluded same on 23-10-1998 - Thereafter Assessing Officer issued intimation under section 158BD on 9-10-2005 - Whether proceedings initiated in terms of section 158BD were vitiated by enormous and unexplained delay - Held, yes [Para 1] [In favour of assessee] CASE REVIEW Manish Maheshwari v. Asstt. CIT [2007] 289 ITR 341/159 Taxman 258 (SC) (para 1) followed. CASES REFERRED TO Manish Maheshwari v. Asstt. CIT [2007] 289 ITR 341/159 Taxman 258 (SC) (para 1). JUDGMENT 1. Having heard Mr. Pinto, learned counsel, appearing on behalf of the Revenue, in support of this appeal, which challenges the order passed by the Tribunal dated December 21, 2011, we are of the opinion that the Commissioner of Income-tax (Appeals) as also the Tribunal were justified in…

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