Income Tax Appellate Tribunal Itat Kolkata Court April 1998 Judgments Home Cases Income Tax Appellate Tribunal Itat Kolkata 1998 Page 1 of about 1 results (0.018 seconds)

Shaw Wallace and Company Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1999)68ITD148(Kol.)

1. This appeal by the assessee for the block assessment for the block period of previous years 1987-88 to 27th August, 1996 passed under s.158BC of the IT Act, 1961.2. The facts of the case, in brief, relevant for the disposal of this appeal, at present, are that a search under s. 132 of the IT Act, 1961, was conducted at the office premises of the assessee, Shaw Wallace & Co. Ltd. at 4, Bankshall Street, Calcutta-700 001, and at its various premises on 27th August, 1996, and on subsequent dates. During the course of search various assets and documents were found and seized.The AO issued notice under s. 158BC on 31st January, 1997, calling upon the assessee to file its return of undisclosed income for the block period. The return was filed on 17th April, 1997. The AO passed the block assessment order for the block period on 28th November, 1997. On 27th August, 1996, the date on which the search commenced, the assessments for the two assessment years, namely, 1994-95 and 1995-96 we...