JUDGMENT : K.S. Jhaveri, J. 1. This Tax Appeal u/s. 260A of the Income-tax Act, 1961 is filed against the order dated 28.04.2006 passed by the Income Tax Appellate Tribunal, Ahmedabad in IT (SS) A No. 03/Ahd/1998 raising the following substantial question of law for our consideration: "Whether the Income Tax Appellate Tribunal was right in law and on facts in holding that the assessment for the block period was barred by limitation on the ground that initial notice, wrongly issued under Section 158BC of the Income Tax Act, 1961 was a valid notice?" 2. The assessee is a firm dealing in real estate and construction activities. During the course of a search u/s. 132 of the Act in the case of M/s. Gokul Corporation, the assessment was to be completed in assessee's case u/s. 158BC r/w. 158BC of the Act. The Assessing Officer, initially, issued a Notice u/s. 158BC of the Act to the assessee on 17.10.1996 instead of Notice u/s. 158BD of the Act. Subsequently, the A.O. issued a fresh Notice u/s. 158BD on 29.08.1997 in super session of the Notice issued earlier u/s. 158BC of the Act. In response to the Notice, the assessee filed return of income dated 29.09.1997 declaring "Nil" income. The A.O. proceeded to complete the block assessment u/s. 158BDon 01.12.1997 determining undisclosed income at Rs. 1,32,20,000/-; making addition of Rs. 66.20 Lacs on account of "on money" receipt on sale of flats and Rs. 66 Lacs on account of unexplained cash payment to a third party for acquiring development rights. 3. Being aggrieved by the assessment order, the assessee filed appeal before the Tribunal. The Tribunal allowed the appeal filed by the assessee vide impugned order dated 28.04.2006. Hence, this Tax Appeal at the instance of Revenue. 4. At the outset, Mr. Manish Shah, learned counsel for the assessee, submitted that the controversy raised in this appeal is already settled by a judgment of this Court passed in Tax Appeal No. 1449/2006 decided on 08.07.2016. For ready reference, the said judgment is reproduced hereunder; "1. Hence, this Tax Appeal at the instance of Revenue. 4. At the outset, Mr. Manish Shah, learned counsel for the assessee, submitted that the controversy raised in this appeal is already settled by a judgment of this Court passed in Tax Appeal No. 1449/2006 decided on 08.07.2016. For ready reference, the said judgment is reproduced hereunder; "1. This Tax Appeal u/s. 260A of the Income-tax Act, 1961 is filed against the order dated 19.05.2006 passed by the Income-tax Appellate Tribunal, Ahmedabad in IT(SS)A No. 14/Ahd/1998 raising the following substantial question of law for our consideration: "Whether the Appellate Tribunal is right in law and on facts in holding that block assessment passed u/s.158BD r/w. Section 158BC in the instant case was barred by time and therefore, void ab initio?" 2. The facts in brief are that a search operation under Section 132 of the Act was carried out in the premises of M/s. Gokul Corporation and its Partners on 21.09.1995 and certain incriminating documents pertaining to the assessee-firm were traced in the said search. The assessment in the present case was consequent upon the statements recorded during the proceedings of the aforesaid search. On 24.12.1997 assessment was completed u/s. 158 BC(c) r/w. Section 158BD and 158BA for the block period - 01.04.1985 to 31.03.1995 and 01.05.1995 to the date of search, i.e. 21.09.1995, on an undisclosed income of Rs. 50 Lacs. In the first instance, the A.O. issued Notice u/s. 158BC on 04.11.1996. Subsequently, when the A.O. realized that Notice u/s. 158BC had been issued to a person who was not searched, Notice u/s. 158BD of the Act was issued. The assessment order was passed u/s. 158BC r/w. Section 158BD and Section 158BA of the Act on 24.12.1997. The assessment was getting barred by limitation on 30.09.1998 according to the A.O., i.e. one year from the end of the month on which the Notice u/s. 158BD was served. 3. Being aggrieved by the order of A.O., the assessee filed appeal before the Tribunal raising the ground of validity of the Notice issued u/s. 158BD amongst other grounds. The Tribunal allowed the appeal by order dated 19.05.2006 whereby, it declared the assessment itself void ab initio. Hence, this appeal at the instance of Revenue. 4. Mr. 3. Being aggrieved by the order of A.O., the assessee filed appeal before the Tribunal raising the ground of validity of the Notice issued u/s. 158BD amongst other grounds. The Tribunal allowed the appeal by order dated 19.05.2006 whereby, it declared the assessment itself void ab initio. Hence, this appeal at the instance of Revenue. 4. Mr. Nitin Mehta, learned Standing Counsel appearing for the Revenue, took us through the provisions of Section 158BC, 158BDand 158BE of the Act and submitted that the Tribunal committed serious error in law in allowing the appeal filed by the assessee. It is submitted that the Assessing Officer took necessary precaution before completing assessment inasmuch as he recorded his satisfaction by way of a proposal and sent it to the CIT concerned and also got due approval for proceedings to finalize the assessment u/s. 158BD of the Act. Though time for making assessment was available up to 30.09.1998 since Notice u/s. 158BD r/w. Section 158BC (a) issued on 29.08.1997 was served on the assessee on 02.09.1997, the A.O. completed assessment well in time, i.e. on 24.12.1997. Hence, the action of the A.O. in initiating proceedings u/s. 158BD of the Act was legal and well within the period of limitation. 5. Mr. Manish Shah, learned counsel for the assessee, submitted that Section 158BC of the Act prescribes the issuance of a Notice requiring the person to furnish their returns of undisclosed income. Insofar as provisions of Section 158BD of the Act are concerned, it does not prescribe the issuance of any Notice as such because it only gives jurisdiction to the A.O. over the case of "such other person" to proceed with the assessment proceedings under Chapter XIV-B of the Act and the A.O. cannot put the proceedings in motion by issuing a Notice u/s. 158BD of the Act rather the Notice for putting the assessment proceedings in motion has to be issued u/s. 158BC of the Act. 5.1 Learned counsel Mr. Shah further submitted that the first Notice u/s. 158BC of the Act was issued on 17.10.1996 and served upon the assessee on 04.11.1996. By virtue of the provisions of Section 158BE(ii) of the Act, the assessment should have been made before the end of one year from the end of the month in which Notice u/s.158BC of the Act was served, i.e. latest by 30.11.1997. By virtue of the provisions of Section 158BE(ii) of the Act, the assessment should have been made before the end of one year from the end of the month in which Notice u/s.158BC of the Act was served, i.e. latest by 30.11.1997. However, since the assessment was framed on 24.12.1997, it is illegal and bad in law being barred by time. 5.2 It was further submitted that the proceedings initiated by way of Notice u/s. 158BC of the Act issued on 17.10.1996 having been concluded by the A.O. as a result of withdrawal of the Notice u/s.158BC of the Act on 29.08.1997, the issuance of fresh Notice u/s.158BD on 29.08.1997 as well as subsequent assessment were illegal and bad in law. According to him, there is no provision for initiating reassessment proceedings for block period, either u/s. 147 or u/s.158BD or 158BC of the Act. Therefore, the Tribunal was completely justified in setting aside the order of assessment. 6. We have heard learned counsel for both the sides and perused the documents on record. In order to resolve the controversy on hand, certain provisions of the Act require to be noticed by us. Chapter XIV-B of the Act is a special provision carved out by the Legislature for the purpose of assessment in cases pertaining to Sections 132 and 132A of the Act. The said Chapter was introduced by the Finance Act, 1995 with effect from 01.07.1995 and comprises Sections 158B to 158BH of the Act. The provisions under this Chapter were made inapplicable in case of search initiated under Section 132 or Section132A after 31.05.2003 by introduction of an amendment to the Chapter as Section 158BI vide the Finance Act, 2003 with effect from 01.06.2003. The lis before us requires examination of the provisions of the said Chapter, particularly, Section 158BD. 7. Section 158B of the Act is the dictionary clause. It provides for the definition of "block period" and "undisclosed income". For the purpose of this case, a reference to the definition of the "undisclosed income" as provided for in Section 158B (b) is necessary and, therefore, it is noticed. 7. Section 158B of the Act is the dictionary clause. It provides for the definition of "block period" and "undisclosed income". For the purpose of this case, a reference to the definition of the "undisclosed income" as provided for in Section 158B (b) is necessary and, therefore, it is noticed. The same reads as under: "Undisclosed income" includes any money, bullion, jewellery or other valuable article or thing or any income based on any entry in the books of account or other documents or transactions, where such money, bullion, jewellery, valuable article, thing, entry in the books of account or other document or transaction represents wholly or partly income or property which has not been or would not have been disclosed for the purposes of this Act [or any expense, deduction or allowance claimed under this Act which is found to be false]". 8. Sections 158BC and 158BD of the Act are machinery provisions. Section 158BC of the Act provides the procedure for block assessment and Section 158BD of the Act provides for assessments in the case of an undisclosed income of any other person. The said sections are relevant for the purpose of this case and, therefore, they are extracted. They read as under: "Section 158 BC. PROCEDURE FOR BLOCK ASSESSMENT. Section 158BC of the Act provides the procedure for block assessment and Section 158BD of the Act provides for assessments in the case of an undisclosed income of any other person. The said sections are relevant for the purpose of this case and, therefore, they are extracted. They read as under: "Section 158 BC. PROCEDURE FOR BLOCK ASSESSMENT. Where any search has been conducted under section 132 or books of account, other documents or assets are requisitioned under section132A, in the case of any person, then,-- [(a) The Assessing Officer shall, (i) In respect of search initiated or books of account or other documents or any assets requisitioned after the 30th day of June, 1995 but before the 1st day of January, 1997 serve a notice to such person requiring him to furnish within such time not being less than fifteen days; (ii) In respect of search initiated or books of account or other documents or any assets requisitioned on or after the 1st day of January, 1997, serve a notice to such person requiring him to furnish within such time not being less than fifteen days but not more than forty-five days, as may be specified in the notice a return in the prescribed form and verified in the same manner as a return under clause (i) of sub-section (1) of section 142, setting forth his total income including the undisclosed income for the block period: Provided that no notice under section148 is required to be issued for the purpose of proceeding under this Chapter: Provided further that a person who has furnished a return under this clause shall not be entitled to file a revised return;] (b) The Assessing Officer shall proceed to determine the undisclosed income of the block period in the manner laid down in section 158BB and the provisions of section 142, sub-sections (2) and (3) of section 143 [section 144 and section 145] shall, so far as may be, apply; (c) The Assessing Officer, on determination of the undisclosed income of the block period in accordance with this Chapter, shall pass an order of assessment and determine the tax payable by him on the basis of such assessment; (d) The assets seized under section 132or requisitioned under section 132A shall be dealt with in accordance with the provisions of section 132B.] Section 158BD. UNDISCLOSED INCOME OF ANY OTHER PERSON. UNDISCLOSED INCOME OF ANY OTHER PERSON. Where the Assessing Officer is satisfied that any undisclosed income belongs to any person, other than the person with respect to whom search was made under section 132 or whose books of account or other documents or any assets were requisitioned under section 132A then, the books of account, other documents or assets seized or requisitioned shall be handed over to the Assessing Officer having jurisdiction over such other person and that Assessing Officer shall proceed [under section 158BC] against such other person and the provisions of this Chapter shall apply accordingly. 9. It is clear from the above provisions that Section 158BC speaks of the procedure for assessment of a person searched under Section132 of the Act or books of accounts, other documents or assets requisitioned under section 132A. The limitation for the purpose of completion of the block assessments for the purpose of Section 158BC of the Act is as provided under Section 158BE(1)(a) of the Act, which is the time limit for completion of block assessments. Section158BD of the Act provides for "undisclosed income" of any other person. 10. Before we proceed to explain the said provision, we intend to remind ourselves of the first or the basic principles of interpretation of a fiscal legislation. It is time and again reiterated that the Courts, while interpreting the provisions of a fiscal legislation, should neither add nor subtract a word from the provisions of instant meaning of the sections. It may be mentioned that the foremost principle of interpretation of fiscal statutes in every system of interpretation is the rule of strict interpretation which provides that where the words of the statute are absolutely clear and unambiguous, recourse cannot be had to the principles of interpretation other than the literal rule. 11. Admittedly, the provisions of Section 158 BD has not prescribed any time-frame to be allowed to the assessee for complying with the Notice. If we analyze the provisions of Sections 158BC, 158BD and 158BE of the Act, it would be evident that Notice u/s. 158BC of the Act has to be issued for making an assessment under Chapter XIV-B in both types of cases, viz. cases covered by the provisions of Section 158BA as well as covered u/s. 158BD of the Act, both before the amendment in Section 158BD and also after the amendment. 12. cases covered by the provisions of Section 158BA as well as covered u/s. 158BD of the Act, both before the amendment in Section 158BD and also after the amendment. 12. In the present case, the first Notice u/s. 158BC of the Act was issued to the assessee on 17.10.1996, which was served upon the assessee on 04.11.1996. Therefore, assessment could have been framed latest by 30.11.1997. However, on 29.08.1997, the Assessing Officer withdrew the Notice issued u/s. 158BC of the Act and issued a fresh Notice u/s. 158BD of the Act on 29.08.1997. On 17.10.1996 the Notice issued u/s. 158BC of the Act was a valid notice. 13. However, the proceedings initiated on the basis of this Notice stood concluded on 29.08.1997, when the A.O. informed the assessee of having withdrawn the Notice u/s. 158BC of the Act, meaning thereby, that the proceedings initiated on 17.10.1996 was valid for all intent and purposes but, stood concluded on 29.08.1997. Therefore, there was no question of reviving those proceedings by way of issuing a fresh Notice under any other Section of the Act. On this count also, there could not have been any assessment on 01.12.1997. Thus, the Revenue's claim that Notice u/s. 158BD of the Act issued on 29.08.1997 was a valid Notice and that the consequential assessment framed on 24.12.1997 was within limitation cannot be accepted and is void ab initio being barred by time. Thus, the action of the A.O. of withdrawing the Notice u/s.158BC and issuing fresh Notice u/s. 158BD of the Act is illegal and bad in law. There is no provision in the Act for initiating re-assessment proceedings for block period, either u/s. 147 or 158BC or158BD of the Act. Therefore, both the actions of the Assessing Officer are illegal and bad in law. 14. In view of the above, the Tribunal was completely justified in holding that the block assessment passed u/s. 158BD r/w. Section158BC was barred by time and therefore, void ab initio. Thus, we answer the question in the affirmative, i.e. in favour of the assessee and against the Revenue. The appeal stands disposed of accordingly. No order as to costs." 5. Mr. Nitin Mehta, learned Standing Counsel for the Revenue, could not point out any distinguishing feature in the judgment, which may warrant a different view. 6. Thus, we answer the question in the affirmative, i.e. in favour of the assessee and against the Revenue. The appeal stands disposed of accordingly. No order as to costs." 5. Mr. Nitin Mehta, learned Standing Counsel for the Revenue, could not point out any distinguishing feature in the judgment, which may warrant a different view. 6. In view of the above and for the reasons recorded in the afore-mentioned judgment, the appeal is dismissed. The question raised in this appeal is answered in favour of the assessee and against the Revenue. The appeal stands disposed of accordingly. No order as to costs.