2010 (4) TMI 54

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..... d against the order dated 28th April, 2006, passed by the Income Tax Appellate Tribunal in IT(SS) No.313/D/1997 pertaining to the block period 1st April, 1986 to 29th August, 1996. The appellant/Revenue is aggrieved by the fact that the Tribunal held the block assessment order to be barred by limitation and, therefore, quashed the same. 2. The facts of the case are that search under Section 132(1) of the Act was conducted on the 29th August, 1996 which concluded on 30th August, 1996. A panchnama was drawn on the 29th August, 1996 when books of accounts and other documents were seized. On that date a restraint order was passed. By another order passed on 28th October, 1996 the restraint order was extended till 18th November, 1996. On the 18 .....

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..... tion for search. This was not done. Further, the officials who visited the premises on various dates, after gaps and after repeated action of lifting and re-imposing the restraint order, did not feel any necessity for seizing any files. The Tribunal observed that, therefore, the last authorization was executed on the date when the search party left the premises of the assessee, after seizing those items considered to be related to the undisclosed income of the assessee. The assessment was to be completed within one year from the end of the month of that date. The Tribunal found that in the instant case the search was completed on the 30th August, 1996 and the panchnama was drawn on 29th August, 1996 when books of accounts were seized. The r .....

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..... a)? From the facts narrated above, it is clear that the panchnama of January 3, 2001, itself reveals that nothing was seized on that date. Nor was anything "found" on that date. In fact, no search was conducted. The jewellery that was put in the cash box of the almirah had already been searched, found, inventorised and valued by the DVO on November 17, 2000, itself. Nothing remained to be searched thereafter. And, in fact, no further search was conducted after November 17, 2000. Obviously, nothing else could be found. All that was done on January 3, 2001, in the presence of the witnesses (panchas), was that the seals were removed from the cash box and the almirah and the keys were handed back to the assessee. Essentially, the revocation of .....

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