https://www.taxtmi.com/caselaws?id=219909 The Tribunal held that the block assessment in question should have been made under Section 158BD, not Section 158BC, of the Income Tax Act, 1961, based on evidence from a noting sheet. The Tribunal also found that the assessment exceeded the one-year time limit specified in Section 158BE(1)(a) for cases falling under Section 158BC, leading to the decision being set aside and the tax case appeal allowed. This case underscores the importance of correctly applying statutory provisions and adhering to time limits for assessments under the Income Tax Act, 1961. en-us Wed, 22 Aug 2012 00:00:00 +0530 Tue, 01 Jan 2013 11:54:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219909 The Tribunal held that the block assessment in question should have been made under Section 158BD, not Section 158BC, of the Income Tax Act, 1961, based on evidence from a noting sheet. The Tribunal also found that the assessment exceeded the one-year time limit specified in Section 158BE(1)(a) for cases falling under Section 158BC, leading to the decision being set aside and the tax case appeal allowed. This case underscores the importance of correctly applying statutory provisions and adhering to time limits for assessments under the Income Tax Act, 1961. Case-Laws Income Tax Wed, 22 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219909