Law:

Section:

Section 158BC of the Income-tax Act, 1961 - Block assessment in search cases - Procedure for - Whether if income of a particular assessment year falling within block period is not taxable, same shall not be treated to be undisclosed income - Held, yes FACTS In the instant appeal the question sought for consideration was as to whether the undisclosed income of a particular block period if not taxable would be treated as an undisclosed income on non-filing of return. HELD It is an admitted position that with effect from 1-7-1995, the amendment has been made in section 158BC which clearly provides that if the income of a particular assessment year falling within the block period is not taxable, the same shall not be treated to be undisclosed income. No doubt, in the instant case some orders in a block period were prior to 1-7-1995, but taking into consideration the facts of the case and the intention of the Legislature as was evident from amendment no substantial question of law arose for determination. JUDGMENT 1. The only question for consideration in this appeal is as to whether the undisclosed income of a particular block period if…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492