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2023 (11) TMI 48 - DELHI HIGH COURTRevision u/s 263 - period of limitation - whether the assessment order for AY 2015-16, issued on 31st March, 2023, was barred by the limitation prescribed in Section 153B? - restraint and revocation orders pertaining to Locker - HELD THAT:- Petitioner has sought to mislead the Court, arguing that status of “last panchnama” remains unchanged despite the subsequent searches on 29th and 30th April, 2021 of Lockers 299, 2070, and 1320. While, there is strength in Petitioner’s argument that panchnamas logging nil recovery from the scrutiny of Lockers 2070 and 1320 on 30th April, 2021, which were also searched previously in March, 2021, cannot be classified as “last panchnama”; however, the restraint and revocation orders pertaining to Locker 299 (extracted above) unequivocally establish that Locker 299 underwent its initial search on 29th April 2021, even though it resulted in no recoveries. This date marks the onset of the limitation period prescribed under Section 153B of IT Act. The Petitioner’s assertion, which suggests that the searches spanning through 02nd to 06th March, 2021, as logged in the panchnamas, should be viewed as the execution of last authorization u/s 132 of IT Act, does not align with the factual reality. Search operation was an ongoing process that definitively concluded on 29th April, 2021, when Locker 299 was inspected. This renders the assessment under Section 153A, which culminated on 31st March, 2023, within the time limit prescribed u/s 153B of IT Act. Consequently, the basis for Petitioner’s challenge to the invocation of revisional jurisdiction under Section 263, is untenable. It is indisputable that the limitation period for assessment warrants strict interpretation; however, the facts presented to us confirm conclusively that the search concluded on 29th April, 2021. Therefore, it is implausible to assert that the assessment order of 31st March, 2023 notified under Section 153A of IT Act exceeds the twelve-month limitation period. Since there is no jurisdictional error in the assessment order dated 31st March, 2023 pertaining to AY 2015-16, on the ground of limitation, we are not inclined to entertain the present petition.
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