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2012 (2) TMI 156 - HC - Income TaxPeriod of limitation search & seizure conducted special audit u/s 142(2A) writ petition filed against the order u/s 142(2A) stay granted - High court held that time schedule fixed u/s 153B shall apply if the special audit was ordered - time spent in prosecuting the petition shall be excluded for the purpose of computing the time for completion of assessment assessee contending that A.O. had already availed the period of 60 days in view of the stay order passed by the court Held that:- In the present case, because of the stay order passed, the period during which the stay order was in operation in the High Court has to be excluded. In terms of proviso to the Explanation to Section 153B(1), A.O. had the extended period to complete the assessment proceedings Decided in favor of Revenue.
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