https://www.taxtmi.com/caselaws?id=16752 The HC rejected petitions challenging notices issued under section 143(2), holding the AO had jurisdiction to proceed with regular assessments for the previous year included in the block period. Chapter XIV-B assessments of undisclosed income operate separately and do not bar regular assessments, nor do immunity provisions for block-assessed income preclude interest or penalties arising from understatement or excessive loss in the regular assessment. The AO could complete assessment under section 143(3) for AY 1995-96 despite prior block assessment proceedings. Petitions dismissed with no order as to costs. en-us Mon, 23 Mar 1998 00:00:00 +0530 Fri, 10 Oct 2025 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16752 The HC rejected petitions challenging notices issued under section 143(2), holding the AO had jurisdiction to proceed with regular assessments for the previous year included in the block period. Chapter XIV-B assessments of undisclosed income operate separately and do not bar regular assessments, nor do immunity provisions for block-assessed income preclude interest or penalties arising from understatement or excessive loss in the regular assessment. The AO could complete assessment under section 143(3) for AY 1995-96 despite prior block assessment proceedings. Petitions dismissed with no order as to costs. Case-Laws Income Tax Mon, 23 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16752