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Commissioner of Income Tax, Kolkata IV Versus Ritika Limited

2016 (5) TMI 1272 - CALCUTTA HIGH COURT

Validity of assessment as barred by limitation - is the period of limitation of two years to be reckoned from November 21, 2000? - Held that:- The fact that the restraint order was not extended after January 15, 1999 is a pointer to show that the search was at an end on January 15, 1999 itself. It is not within the power of the revenue to keep a matter pending for as long as they desire. The object is to dispose of the proceedings as expeditiously as possible. In this case, almost two years afte .....

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oned. Therefore, the search came to an end. The search did not stand revived when the officers called at the house of the assessee merely for the purpose of recording that the search was at an end. We, therefore, find that the order passed by the learned Tribunal is a perfectly justified order. Therefore, the appeal fails. - Decided in favour of the assessee. - ITA 476/2007 - Dated:- 16-5-2016 - Girish Chandra Gupta And Asha Arora, JJ. For the Petitioner : Mr. S. B. Saraf, Adv. Appears. For the .....

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arned Income Tax Appellate Tribunal has erred in law in passing the impugned order without appreciating that Section 158BB(2) specifically empowers the Assessing Officer to apply the provisions of Section 68 and other Sections for computing the income of the block period? Mr. Saraf, learned Advocate appearing for the revenue-appellant, submitted that the question which was suggested and formulated at the time of admission of the appeal is not the question which really arises for determination. A .....

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98 which was valid for a period of sixty days. (c) The restraint order was extended for a period of thirty days, i.e. to say, upto January 15, 1999. (d) It is not in dispute that the restraint order thereafter was not extended. (e) As a matter of fact, after January 15, 1999, nothing took place. (f) All that the revenue thereafter did was to call at the house of the assessee on November 21, 2000 for the purpose of recording that the search was at an end. The question is, is the period of limitat .....

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