2009 (5) TMI 559 - HC - Income Tax

Search and seizure - Block assessment - Limitation - Panchnama revoking prohibitory order - Subsequent Panchnama cannot extend time limit

Summary

The High Court of Rajasthan dismissed the appeal as there was no error in the findings recorded by the Tribunal. The entire episode related to the case was concluded on December 21, 2002, and the prohibitory order was revoked. The panchnama dated January 3, 2003, was found to be prepared without the intention to extend the time limit.