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2006 (5) TMI 115 - AT - Income TaxBlock Assessment in search case - time-barred - three warrants of authorization issued u/s 132 - HELD THAT:- The section 158BE clearly states that the limitation will start from the end of the month in which last of the authorizations was executed. It pre-supposes that there can be a situation where more than one authorizations for search u/s 132 are issued and the execution of the last of the such authorizations is to be considered as the starting point for the purpose of limitation. It clearly refers to the last authorization in case where more than one authorizations are issued. As such it cannot be held that all the authorizations issued should be treated as a common kitty and anyone of the authorization which is executed at the end should be considered for the purpose of limitation. Thus, we hold that the last of the authorizations issued in the case of the assessee dated 23-12-1996 was executed on that day itself. The assessment was required to be concluded with one year from the end of the month in which last of the authorizations were executed. Meaning thereby that as per the provision of section 158BE the assessment was required to be completed by 31-12-1997. Hence the assessment order passed u/s 158BC on 23-1-1998 was barred by time limitation and same is quashed. Having quashed the assessment being barred by time limitation, on the basis of the one of the contentions raised. We do not see any need to go into the other issues raised by both the parties as same will only be an academic exercise. We also see no reason to go into the merits of the case which have been raised in other grounds of the appeal as assessment has been quashed on the legal issue. In the result, appeal of the assessee is allowed.
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