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2009 (9) TMI 650 - HC - Income TaxPeriod of limitation - assessment - search, the two-year period is to be counted on the conclusion of the search as recorded in the last panchnama. The premises of the respondent- assessee were finally searched on March 26, 2002 when certain material was seized and panchnama was also prepared. Thereafter, there was no search at the premises of the assessee. If the material seized by the Revenue, i.e., the carton was opened on a subsequent date and inventory prepared or the CPU seized was opened later on to find out whether it contains any information/data relevant for the purposes of assessment or not, that would be of no consequence. This is the exercise done by the Revenue authorities sitting in their office dealing with the material seized. It cannot amount to "search" as mentioned in the aforesaid Explanation. If this contention is accepted, it would give the Department undue advantage of their own inaction or sluggishness and can be misused by showing any such subsequent date of in-house investigation into the seized material in their records at their whim to bring the case within limitation. assessment was time barred. No question of law arises in this appeal. Dismissed.
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