Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (8) TMI 726 - HC - Income TaxSearch and Panchanamas prepared on 22.12.1999, 14.1.2000 and 19.12.2000 shows complete inventory of each item was prepared - for a valid search requirement of Explanation 2(a) to Section 158BE shall be fulfilled. - Held That:- Panchnama dated 14.1.2000 nor dated 19.12.2000 shows that any search was conducted on that day and only depicting revocation of restraint order. Only panchnama dated 22.12.1999 which related to the conclusion of search. Thus assessment was time barred. Suo motu extension of time for special audit under Section 142(2C) - Held That:- Amendments which inserted word suo motu were applicable from 01.04.08, amendment was prospective. Thus appeal of revenue for the relevant A/Y is dismissed.
|