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2016 (11) TMI 806 - SC ORDERPeriod of limitation for passing the block assessment order - review petition filed against the order in VLS Finanace Ltd. v. CIT [2016 (4) TMI 1133 - SUPREME COURT ] - Held that:- We have carefully gone through the review petition and the connected papers. We find no error much less apparent in the order impugned wherein held that in the estimation of the assessing officer special audit was essential for passing proper assessment order. If the court, while undertaking judicial review of such an order of the assessing officer directing special audit ultimately holds that such an order is wrong (for whatever reason) that event happens at a later date and would not mean that the benefit of exclusion of the period during which there was a stay order is not to be given to the Revenue. Explanation 1 which permits exclusion of such a time is not dependent upon the final outcome of the proceedings in which interim stay was granted. The review petition is, accordingly, dismissed.
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