- (1.) WE have heard Shri H.R. Misra, Senior Advocate assisted by Shri R.S. Agarwal for the appellant -assessee. Shri Bharat Ji Agrawal, Senior Advocate assisted by Shri A.N. Mahajan, appears for the Commissioner of Income Tax.
(2.) THIS income tax appeal has been preferred by the revenue on the following questions of law: (iii) Whether, the Tribunal was legally correct in holding that in view of the phraseology "so far as may be" as appearing in Section , the applicability of Section as a whole, to the block assessment proceedings, was optional at the end of the Assessing Officer and non -issuance (by the Assessing Officer) and non -service (on the assesses) of such a notice does not affect the validity of block assessment order? (iv). Whether, the Tribunal was legally correct in holding that the Circular No. dated 14.8.1995 as issued by the CBDT, whereby issuance and service of notice U/s on the assesses has been made absolute, was wholly redundant having no bearing on the applicability of the said provision on the block assessment Shri H.R. Misra, Senior Advocate appearing for the assesses states that the case is covered by the judgment in Assistant Commissioner of Income -Tax v. Hotel Blue Moon, : (2010) 321 ITR 362 (SC).
(3.) WE have gone through the judgment in Hotel Blue Moon (Supra) and Section as inserted in the Income Tax Act by the Finance Act, 2008 and do not find that the consideration of Section would have made any difference to the reasoning and the conclusions in the judgment.;