TMI Blog2018 (2) TMI 886X X X X Extracts X X X X X X X X Extracts X X X X ..... f clause (c) of sub-section (2) of Section 56 of the Act - Held that: - Going by the plain meaning of the words used in the provision, the word 'year' therein can never be the assessment year. Further, if the word 'year' contained in the provision is reckoned as the assessment year, then the power under that section cannot be exercised, if the assessment is not completed within four years from the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the third respondent in exercise of the power under Section 56 of the Act as per Ext.P3 order. Ext.P3 order is under challenge in the writ petition on the ground that the same was passed after the expiry of the time limit prescribed for the said purpose in terms of clause (c) of sub-section (2) of Section 56 of the Act. 2. Heard the learned counsel for the petitioner as also the learned Go ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oted above, the order was passed on 28.11.2013. If the year referred to in clause (c) is taken as the calendar year or as the assessment year, the impugned order dated 29.7.2017 is well within time. 4. The learned counsel for the petitioner, however, points out that the year referred to in clause (c) of sub-section (2) of Section 56 is the assessment year concerned of the assessee. According to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hen the power under that section cannot be exercised, if the assessment is not completed within four years from the relevant assessment year. The contention aforesaid of the learned counsel, in the circumstances, is liable to be rejected. However, in the peculiar facts and circumstances of the case, in so far as this Court has entertained the writ petition against the impugned order, it is directe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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