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TMI Blog2016 (12) TMI 1654X X X X Extracts X X X X X X X X Extracts X X X X ..... rt. According to us, the date of issuance of the notice (i.e., January 18, 2001) is the day on which the Assessing Officer had taken a decision to get the books audited, when such decision is conveyed to the assessee then only it results into direction. A purpose of interpretation of clause (ii) above, read with the decision of the hon'ble Supreme Court (supra) would mean, the date on which the decision/notice is served on the assessee. In that view of the matter, January 23, 2001 will be the crucial date from which the period to be excluded is to be reckoned, and therefore, the period which is required to be excluded in the period from January 23, 2001 to July 17, 2001 from January 18, 2001 to January 23, 2001 it was only decision, and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... doi, Kota engaged in the business of commission agents and trading of vegetables. The premises of the said firm as well as its partners including the assessee were searched on February 24, 1999 under section 132(1) of the Income-tax Act, during which various valuables and incriminating books of account and many other documents were found and seized from the premises of the firms as well as its partners, including the assessee. During the course of search operation, statements of the assessee, his wife and other concerned persons were recorded under section 132(4) of the Income-tax Act, and consequently, a notice under section 158BC for the period ending on February 24, 1999, was issued by the Deputy Commissioner of Income-tax, Circle-Kota o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... counting records relating to conduct of several business activities during the block period and in the interests of the Revenue, the Assessing Officer decided to get the accounts audited by an accountant as defined in the Explanation below sub-section (2) of section 288. Therefore, with the previous approval of the Commissioner of Income-tax, Jaipur communicated vide his letter No. CIT/JPR/ITO(R S)/2000-01/2031 of January 9, 2001, direction under sub-section (2A) of section 142 of the Income-tax Act, 1961 were issued to the assessee vide letter No. JCIT(OSD)/JPR/2000-01/32 dated January 18, 2001 by the Joint Commissioner of Income-tax (OSD), Jaipur, the then Assessing Officer, to get the accounts audited. It is pertinent to note that the sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1995, but before the 1st day of January, 1997 ; (b) within two years from the end of the month in which the last of the authorisations for search under section 132 or for requisition under section 132A, as the case may be, was executed in cases where a search is initiated or books of account or other documents or any assets are requisitioned on or after the 1st day of January, 1997. (2) The period of limitation for completion of block assessment in the case of the other person referred to in section 158BD shall be- (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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id period, the period of limitation referred to in sub-section (1) or sub-section (2) available to the Assessing Officer for making an order under clause (c) of section 158BC is less than sixty days, such remaining period shall be extended to sixty days and the aforesaid period of limitation shall be deemed to be extended accordingly. Explanation 2.-For the removal of doubts, it is hereby declared that the authorisation referred to in sub-section (1) shall be deemed to have been executed,- (a) in the case of search, on the conclusion of search as recorded in the last panchnama drawn in relation to any person in whose case the warrant of authorisation has been issued ; (b) in the case of requisition under section 132A, on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce of the notice (i.e., January 18, 2001) is the day on which the Assessing Officer had taken a decision to get the books audited, when such decision is conveyed to the assessee then only it results into direction. A purpose of interpretation of clause (ii) above, read with the decision of the hon'ble Supreme Court (supra) would mean, the date on which the decision/notice is served on the assessee. 11. In that view of the matter, January 23, 2001 will be the crucial date from which the period to be excluded is to be reckoned, and therefore, the period which is required to be excluded in the period from January 23, 2001 to July 17, 2001 from January 18, 2001 to January 23, 2001 it was only decision, and not the direction. 12. The ..... X X X X Extracts X X X X X X X X Extracts X X X X
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