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2011 (10) TMI 461 - HC - Income TaxOrder of the block assessment - challenge on the assumption of jurisdiction and on the point of limitation - Held That:- The steps were taken to bring the assessee's case under Section 158BD was right. The date of service was 28.11.1996 and the assessment was to be completed on or before 30.11.1997. The date of the order of the High Court for stay was 19.11.1997 and the stay was vacated on 12.1.2001. Therefore, the stay period works out to 1536 days whereas the total available period including the stay is 1536 days and hence the assessment order since passed within 1535 days, it is in order and in time. Even otherwise, the High Court's order vacating the stay was received in the Commissioner's office on 1.2.2001. The limitation for passing the block assessment expires on 12.2.2001. Hence, the assessment was completed on that date - against assessee.
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