Held that when there was no incriminating material was found in the course of search addition cannot be made u/s 158BC of the Act. As regards charging of interest the Tribunal held that there was no provision under the Act to extend charging of interest beyond the date of completion of the original assessment proceedings. (AY. BP. 1990-2001)
V. Ramprasad Raju v. CIT (2021) 86 ITR 33 (SN) (Bang.)(Trib.)
S. 158BC : Block assessment-Undisclosed Income-No incriminating material found during search-Addition cannot be made-Delay in filing return-Interest payable till date of original assessment order–No provision to charge interest beyond date of original assessment. [s. 158BFA(1)].