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    [0] =>  .....  are given at page 13 of paper book. since regular assessment for these two years has been made by the assessing officer under section 143 of the income tax act, 1961, addition if any on account of renovation or repairs could at the most have been made in such regular assessments. however, since no material was found  .....  income as a result of search. according to him, under section 158bb(1) read with section 158bc of income tax act, 1961, what is assessed is the undisclosed income of the block period and not the total income or loss of the previous years required to be assessed in .....  entire information regarding investment made by her in purchase of the property and she was filing her return showing her income every year.the main contention of the assessee before us was that chapter xiv-b of the income tax act, 1961, lays down a special procedure for assessment of search cases and provides for assessment of undisclosed ..... 
    [1] =>  .....  disposed of by this composite order, as they were heard simultaneously.it is to be noted that a search and seizure operation under section 132(1) of the income tax act, 1961 (hereinafter referred to as the 'act'), was carried out at the business and residential premises of both the assessees on 12-3-1999, resulting into seizure of cash, gold/silver ornaments etc. in .....  seized and requisitioned assets shall be applied. the honble madras high court in the case of k.t. kunju v. cit (supra) has observed as under : "the provisions of chapter xiv-b of the income tax act, 1961, would override all other provisions of the act and if assets are seized, they have to be dealt with only in the manner and the mode prescribed under ..... 
    [2] =>  .....  legal or valid jurisdiction to initiate proceedings under section 158bc in the present case, therefore, the present order so passed under section 158bc of the income tax act, 1961, being voidab initio and illegal be ordered to be quashed.4. learned authorised representative for the assessee submitted that no fresh facts are required to be ..... swaroop nagar, kanpur, is illegal, bad in law and voidab initio as the learned additional director of income tax (inv.), kanpur, subsequent to 30-10-1998, was not authorised under the income tax act, 1961 to sign and authorize any income tax authority through a warrant of search and hence consequentially there being no valid search warrant in the name ..... the appellant, seized from a locker no. 150 with pnb, bahraich opened and operated by the appellant and surcharge over and above the tax payable under section 113 of the income tax act, 1961. 2. that while sustaining the addition of rs. 98,316 being the accruedinterest on ivps of rs. 1,50,000 the learned  ..... 
    [3] =>  .....  special procedure for assessment of search cases and provides for assessment of undisclosed income as a result of search. according to him, under section 158bb(1) r/w section 158bc of it act, 1961, what is assessed is the undisclosed income of the block period and not the total income or loss of the previous years required to be assessed in the normal  ..... view that the addition made on account of investment in the house property cannot be sustained as the same is not covered and included in the "undisclosed income".shri b.k. agrawal v. asstt. cit (ita no.1699/all/1994), dt. 31st may, 2001), we have considered a similar point and have observed that in the scheme oi chapter  ..... 1(5), kanpur to circle 2(3) of kanpur vide his order dt. 31st oct., 1997, and accordingly a fresh notice under section 158bc was issued by the dy. cit, circle 2(3), kanpur, which was served on 6th nov., 1997.13. after considering the above factual aspect, we find sufficient force in the submissions of the learned senior  ..... 
    [4] =>  .....  of the provisions contained in explanation to sub-section (2) of section 158ba of the it act, 1961, it is necessary that the aggregate income computed in a block assessment should be a positive income, so as to attract levy of tax under section 113 of the it act, 1961, on the amount of undisclosed income determined in that block assessment 30. a perusal of the above shall reveal, the .....  current year's unabsorbed depreciation as 'loss' for the purpose of computation of undisclosed income under section 158bb of the it act, 1961 (2) whether block assessment can be framed where aggregated total income (including undisclosed income) determined under section 158bc for each assessment year and assessed/returned income is loss and whether tax under section 113 can be charged on the difference between the loss determined under ..... 
    [5] =>  ..... assessee and consequently block assessment order could be passed under section 158bc of the act after giving notice under section 158bd of the act. he submitted that the assessee is a regular income-tax assessee and in support of his submission referred to pp. 22 to 96 ..... c. shrivastava, who are admittedly partners of the assessee-firm. it is also a fact that the assessee-firm is a regular income-tax payer and has been regularly filing return from the asst. yr. 1987-88 onwards, as is evident from pp. 22 to  .....  the period 1st april, 1996 to 25th sept., 1996, passed under section 143(3)/158bc of the it act, 1961.2. one of the grounds taken by the assessee is disputing the validity of the block assessment order passed by the ao  .....  vishwanath prasad (supra) and it was held that the assessment completed without complying with the provisions of section 158bd of the act, had resulted into illegalities and as such the entire assessment order was vitiated and was to be quashed. since the facts  ..... 
    [6] =>  ..... food inspector air 1994 sc 1818;topline shoes ltd. v. corpn. bank (2002) 6 scc 33 (paras 6 to 8 at pp. 37 & 38); anddirector of inspection of income-tax v. pooran mall & sons and anr.consequently, mere omission to issue such a notice cannot be a ground for holding the resultant assessment proceedings as null and void. mr.dubey .....  party advances and, therefore, need not be repeated. he also relied on certain, decisions and commentary regarding construction of statutes. reference was made to law and practice of income-tax by kanga & palkiwala in the proposition that "one has to look merely at what is clearly stated. there is no room for any intendment. there is no presumption  ..... ) has been followed by the hon'ble rajasthan high court in the case of cit v. gyan parkash gupta (1987) 165 itr 501 (raj), wherein it has been held as under : "an assessment order passed without issuing notice under section 143(2) of the it act, 1961, is invalid but the invalidity is not of such nature that it goes to  ..... 
    [7] =>  ..... is a difference of opinion between the members who heard these applications, the matter was referred to the hon'ble president under section 255(4) of the income-tax act, 1961 (the act). vide intimation dated 24-11-2005, the hon'ble president has been pleased to nominate me as the third member and hence i proceed to resolve the ..... by the department should be dismissed or the same should be allowed by recalling the order of the tribunal in view of the provisions of section 142a of the income-tax act, 1961? 2. a brief background leading to the above controversy will not be out of place here. the assessee constructed a building during the period december, 1994  ..... a self-contained order and, therefore, there is no mistake, which could be rectified in the applications filed by the department under section 254(2) of the income-tax act, 1961.4. we have carefully considered the submissions of the id.representatives of the parties and have also perused the earlier order of the tribunal dated 9-11 -2004 ..... 
    [8] =>  .....  hiding any fact regarding the same. since the audit of the firm in which the assessee was employed, was not completed as per the provisions of section 44ab of the income tax act, therefore, the figures of commission to be received from the firm could not be computed and subsequently all the books of accounts and documents were seized by the department and .....  evidence running into 7 pages contending that there was no material on record on the basis of which reference could have been made under section 131(1)(d) of the income tax act. the similar contention was raised before the assessing officer for which reference as made to the reply dated 26-7-1996, and the specific mention that no addition or alterations ..... 
    [9] =>  .....  by the employer through reports under section 44ab of the it act. therefore, there is no question of not disclosing or not filing the return of income by the assessee, which could have resulted in escapement of income-tax. it was further submitted that before income could be assessed as undisclosed income under section 158bc of the it act, it should first be covered by the provisions of section .....  158b(b) which defines undisclosed income. therefore, merely because the return was filed late it ..... 
    [10] =>  .....  a difference of opinion between the members who heard these applications, the matter was referred to the hon'ble president under section 255(4) of the income-tax act, 1961 (the act). vide intimation dated 24.11.2005, the hon'ble president has been pleased to nominate me as the third member and hence i proceed to resolve the ..... the department should be dismissed or the same should be allowed by recalling the order of the tribunal in view of the provisions of section 142a of the income-tax act, 1961 2. a brief background leading to the above controversy will not be out of place here. the assessee constructed a building during the period december, 1994  .....  self-contained order and, therefore, there is no mistake, which could be rectified in the applications filed by the department under section 254(2) of the income-tax act, 1961.4. we have carefully considered the submissions of the ld.representatives of the parties and have also perused the earlier order of the tribunal dated 9^thnovember,  ..... 
    [11] =>  .....  share the asset of the firm only after a surplus is left. this is amply borne out from section 49 of the indian partnership act, which is fully applicable to income-tax proceedings as well; the reason being that the it act itself does not contain any definition of the 'firm', 'partner' and 'partnership'. sub-section (23) of section 2 says that "firm", " .....  as the liability to pay arises. (it is a different matter that, in view of the provision of section 43b of the it act, it would be allowed as a deduction only on actual payment; or that income-tax is not allowed as a deduction in any case). in cash system of accounting, the debit entry has to be made when the ..... not at par with the income-tax liability. therefore, the said case law cannot be said to be having any application here. in this case the hon'ble bombay high court has held that the deduction of interest under section 10(2)(iii) of the old act of 1922 corresponding to section 36(1)(iii) of the "act" of 1961, can be allowed only ..... 
    [12] =>  .....  is a difference of opinion between the members who heard these applications, the matter was referred to the hon'ble president under section 255(4) of the it act, 1961 (the act). vide intimation dt.24th nov., 2005, the hon'ble president has been pleased to nominate me as the third member and hence i proceed to resolve the .....  a self-contained order and, therefore, there is no mistake, which could be rectified in the applications filed by the department under section 254(2) of the it act, 1961.4. we have carefully considered the submissions of the learned representatives of the parties and have also perused the earlier order of the tribunal dt. 9th nov., 2004 ..... the addition in the investment of the property in question under section 69b of the it act, 1961, for both the assessment years, as the said report was an invalid report. accordingly, the tribunal has rightly decided the appeals by confirming the orders of the cit(a). therefore, we hold that there is no mistake apparent from the said  ..... 
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