Re: ORDER U/S148

SEARCH U/S 132 TAKEN PLACE AND BLOCK ASSESSMENT FOR A. Y. 2003-04 TO A. Y. 2009-10 COMPLETED. A. Y. 2002-03 HAS BEEN REOPENED BY ISSUING NOTICE U/S 148. ORDER U/S 143(3) RWS 147 PASED. WHETHER ADDITIONAL 25 % TAX TO BE PAID UNDER THE SCHEME THOUGH THE ORDER PASSED U/S 143(3) RWS 147 OF THE ACT.

The search and block assessment made is for AY 2003-04 to AY 2009-10 whereas the reopening proceedings are for AY 2002-03 which is an independent appeal for the year which is not covered under search/block assessment. Therefore, if the appeal is pending for AY 2002-03 against the reopening proceedings, the same can be independently settled by paying the disputed tax demand (i.e. without paying additional 25%). Accordingly, only the disputed tax amount will have to be paid.  

 

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