2013 (12) TMI 604

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e Tax was not in accordance with the requirements of Section 158BG of the Act. 2. A search was conducted in the residential premises of Sri.D.T.S. Rao at 3-4-5, Manasara road, III Cross, Indiranagar, Mysore, one of the Directors of M/s. Madhuvana House Building Co-operative Society Limited, Mysore on 06.02.1996. During the course of search, several incriminating documents, papers and books of accounts and cash were seized. It was contended by Sri.D.T.S. Rao as well as Sri.D.S.Manjunath, who were present at the time of search, that the cash of Rs.28,65,100/- seized during search, belong to Sri. D.S.Srinivas Rao and Brothers (HUF). The Assessing Authority passed an order of assessment in the name of the assessee Sri.D.S.Srinivas Rao and br....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the search was conducted on 06.02.1996 i.e., before the 1st day of January 1997 and after 30th day of June 1995 and therefore, it is the Commissioner of Income Tax, who should have previously approved the order of assessment of the Block period, whereas it is the Joint Commissioner, who has previously approved the order of assessment. Therefore, the order of assessment is contrary to Section 158BG. 5. The learned counsel appearing for the Revenue, relying on Section 292B contended that the said violation is in the nature of a mistake, defect or omission, which shall not invalidate the order. What Section 292B provides for is, no return of income assessment notice, summons or other proceeding furnished or made or issued shall be invalid ....