Assistant Commissioner of Income Tax & Anr. Versus M/s. Hotel Blue Moon

Parties Involved

Facts Summary

This is an appeal against the judgment of the High Court of Guwahati in an appeal under Section 260A of the Income Tax Act, 1961. The point raised for determination is whether the issue of notice under Section 143(2) of the Act within the prescribed time for the purpose of block assessment under Chapter XIV-B of the Act is mandatory for assessing undisclosed income detected during a search conducted under Section 132 of the Act. The department argued that issuing a notice under Section 143(2) is not an essential requirement in block assessment under Chapter XIV-B of the Act. The assessee contended that service of notice under Section 143(2) within the prescribed period of time is a prerequisite for framing the block assessment under Chapter XIV-B of the Act.…

Legal Issues

• 1. Whether the issue of notice under Section 143(2) of the Act within the prescribed time for the purpose of block assessment under Chapter XIV-B of the Act is mandatory for assessing undisclosed income detected during a search conducted under Section 132 of the Act.

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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