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TMI Blog2011 (10) TMI 461X X X X Extracts X X X X X X X X Extracts X X X X ..... Court's order vacating the stay was received in the Commissioner's office on 1.2.2001. The limitation for passing the block assessment expires on 12.2.2001. Hence, the assessment was completed on that date - against assessee. - T.C.(A).No.998 of 2004 - - - Dated:- 19-10-2011 - MR.JUSTICE P.JYOTHIMANI, MR.JUSTICE P.P.S.JANARTHANA RAJA, JJ. For Appellant : Mr.J.Balachander for M/s.Sridhar For Respondent : Mr.T.Ravikumar Senior Standing Counsel J U D G M E N T P.JYOTHIMANI, J. This appeal under Section 260A of the Income Tax Act, 1961 (for short, "the Act") is at the instance of the assessee and is directed against the order dated 28.1.2004 passed by the Appellate Tribunal in IT (S S) A No.6/Mds/2001 for the blo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... waran, who was holding the post of Chairman-cum-Managing Director of Tamil Nadu Minerals Limited, the assessee, who happens to be his close friend and a non-practicing Chartered Accountant, arrived at the scene. It was at that time the Department has effected search on the assessee, which resulted in seizure of cash of ₹ 2.16 Lakhs and US$ 5014, and various other documents which indicated that the assessee had been helping the said A.N.Dyaneswaran in certain activities relating to the Trust created by Dr.Dharmambal, mother of A.N.Dyaneswaran. 5. The contention raised by the learned counsel for the assessee is that when search was conducted on the assessee, which is well within the power of the authority as per Section 132(1)(B)(ii ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntemplated under Section 158BE(2)(a) of the Act, which is as follows, is one year from the end of the month in which the notice under the Chapter was served. "Section 158BE. Time limit for completion of block assessment. (1) ... (2) ... (a) one year from the end of the month in which the notice under this Chapter was served on such other person in respect of search initiated or books of account or other documents or any assets requisitioned after the 30th day of June, 1995, but before the 1st day of January, 1997" 7. Even though it is the contention of the learned counsel for the assessee that the date of search, namely 19.1.1996, should be taken into consideration for the purpose of reckoning the period of limitation, i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was 19.11.1997 and the stay was vacated on 12.1.2001. Therefore, the stay period works out to 1536 days whereas the total available period including the stay is 1536 days and hence the assessment order since passed within 1535 days, it is in order and in time. Even otherwise, the Hon'ble High Court's order vacating the stay was received in the Commissioner's office on 1.2.2001. The limitation for passing the block assessment expires on 12.2.2001. Hence, the assessment was completed on that date." 9. No other point has been urged by the assessee except the above point. For the foregoing reasons, we answer the substantial questions of law against the assessee. The appeal stands dismissed. No costs. - - TaxTMI - TMITax - Income ..... X X X X Extracts X X X X X X X X Extracts X X X X
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