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TMI Blog2015 (2) TMI 408X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Revenue. Since the effect of the decision (2001 (12) TMI 53 - KERALA High Court ) is nullified by amendment in introducing Section 158BB(1)(c)(B) to the Act. This observation should have led to a conclusion that the refusal on the part of the Assessing Officer to take into account the facts and figures mentioned with reference to the block period cannot be sustained in law and the order of assessment ought to have been set aside or at least modified. However, the appeal was dismissed as a whole. - Decided in favour of assessee. - I.T.T.A. No. 97 of 2004 - - - Dated:- 10-12-2014 - SRI L.NARASIMHA REDDY AND SRI CHALLA KODANDA RAM, JJ For the Appellant : Smt. K. Neeraja For the Respondent : Sri J. V. Prasad JUDGMENT: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uction, long term capital gains and the one from house property. The appellant approached the Tribunal by filing the appeal. During the pendency of the appeal, he died and his legal representative was brought on record. The Tribunal took the view that the appellant is entitled for the benefit of Section 158BB(c)(B) of the Act. However, the Tribunal, ultimately, dismissed the appeal. Hence, this further appeal under Section 260A of the Act. Heard Smt.K.Neeraja, learned counsel for the appellant and the learned Standing Counsel for the respondent. The appeal arises out of block assessment proceedings. The undisputed facts are that the appellant did not file returns for a period exceeding ten years before the search was conducted, but ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other documents maintained in the normal course on or before the date of the search or requisition where such entries result in computation of loss for any previous year falling in the block period; or (B) on the basis of entries as recorded in the books of account and other documents maintained in the normal course on or before the date of the search or requisition where such income does not exceed the maximum amount not chargeable to tax for any previous year falling in the block period; From a perusal of this, it becomes clear that even where an assessee did not file returns for the block period, the facts and figures mentioned in the books of account must be taken into account. The Tribunal did not disbelieve the statement ..... X X X X Extracts X X X X X X X X Extracts X X X X
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