Ita/25/2003 Of Shri.v.m.ma Thai v. The Commissioner Of Income Tax

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE V.K.MOHANAN MONDAY, THE 23RD JUNE 2008 / 2ND ASHADHA 1930 ITA.No. 25 of 2003() -------------------- IT(S&S)A.NO.35(COCH)/1997 of I.T.A.TRIBUNAL, COCHIN BENCH .................... APPELLANT/APPELLANT/ASSESSEE: ---------------------------------------------- SHRI V.M.MATHAI, PARTNER, M/S. V.T.M. BUILDERS, PENTA ESTATE, PALARIVATTOM, KOCHI-682 025. BY ADV. SRI.C.KOCHUNNY NAIR SRI.DALE P.KURIEN RESPONDENTS: RESPONDENT/REVENUE: -------------------------------- THE COMMISSIONER OF INCOME TAX, COCHIN. BY ADV. SRI.GEORGE K. GEORGE, SC THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 23/06/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR &V.K.MOHANAN, JJ. .................................................................... .................................................................... Dated this the 23rd day of June, 2008. JUDGMENT Ramachandran Nair, J. Heard counsel for the appellant and Standing Counsel for the respondent. The only question raised is whether the block assessmentcompleted is barred by limitation or not. The assessee's contention beforethe Tribunal was rejected by it on the ground that contrary to assessee'sclaim that assessment was completed under Section 158BC of the IncomeTax Act, the assessment in this case is completed under Section 158BDbecause assessee is only one of the partners of various firms, the premises ofwhich were searched on 11.1.1996. Since the assessment is found to beone made under Section 158BD, the assessee cannot canvass for limitationprovided for assessments under Section 158BC. We, therefore, feel theTribunal rightly held that the assessment was made under Section 158BDand the same was completed within the time provided for the saidassessment. The appeal is accordingly dismissed. C.N.RAMACHANDRAN NAIRJudge V.K.MOHANANJudge