TMI Blog2013 (1) TMI 15X X X X Extracts X X X X X X X X Extracts X X X X ..... 127 of 2006 - - - Dated:- 22-8-2012 - MRS. CHITRA VENKATARAMAN AND MR. K. RAVICHANDRABAABU JJ. For appellant: Mr.C.V.Rajan For respondent: Mr. M. Swaminathan Standing Counsel for Income Tax JUDGMENT CHITRA VENKATARAMAN, JJ. The following is the question of law raised in the tax case appeal preferred by the assessee as against the order of the Tribunal in respect of the block assessment for the period 1986-87 to 1996-97 (upto 20.1.1996):- "Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is right in law in rejecting the contentions of the appellant that the block assessment made on the appellant under Section 158BC and not under Section 158BD of the Income Tax Act, 1961 and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 158BE, the time limit for completing the assessment would be two years. Thus, the assessee's appeal was rejected. Aggrieved by the same, the present appeal has been filed before this Court. 3. It is a matter of record that the assessee was subjected to search proceedings by issuance of notice under Section 132. It is seen from para 2 of the assessment order that on 19.1.1996 there was a search conducted in the case of one A.N.Dyaneswaran and in connection with this search, the residence of the assessee was also searched on the same date. Taking the date of search as 19.1.1996, wherein the Revenue seized certain incriminating materials, the correct provision which cover the case herein would be Section 158BC. Section 158BD would ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he end of the month in which the last of the authorisation for the search under Section 132 or for requisition under Section 132A executed. 5. Sub-section (2) of Section 158BE specifies the time limit in cases falling under Section 158BD. In the case of search initiated or books of account or other documents or assets requisitioned after 30.6.1995 but before 1.1.1997, the period of limitation is one year from the end of the month in which the notice was served on such other person and two years in respect of cases of search falling on or after 1.1.1997. 6. Going by the admitted facts herein, as noticed in the assessment order that the assessee was also subjected to search on 19.1.1996 and the case of the assessee falling under Section 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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