2013 (10) TMI 151

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.... Kumar These appeals are filed by the Revenue against the order of the Tribunal dismissing the appeal filed by the, Revenue by holding that the assessment is hopelessly barred by limitation and allowing the appeal filed by the assessee. 2. The assessee, an individual, was working in Life Insurance Corporation. He resigned from service in 1986 and later he started business as property develop....

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....t he was not given an opportunity before seeking approval of the Commissioner to order for special audit. 3. Aggrieved by the aforesaid order, both the assessee as well as the Revenue preferred appeals before the Tribunal. The Tribunal held that there was no complexity in accounts requiring an audit under Section 142(2A) of the Act. The same appears to have taken to avail further time to comple....

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....he final Assessing Officer in the case of block assessments, who has directed for accounts to be audited u/s.142(2A) of the Act?" 4. After hearing the learned counsel for the appellants, we have also noticed that one more substantial question of law requires to be considered viz:      Whether the assessment order is bad for not giving an opportunity of hearing to the asse....

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....while, the legislature amended Section 142(2A) of the Act by expressly providing for such an opportunity being given before an order is passed, which of course held prospective. A resultant position is expressed the provisions in the statute. The Supreme Court has ruled that the principles of natural justice has to be followed as it is not expressly excluded. Now the law has been amended expressly....