2018 (12) TMI 469

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..... judgment of Income Tax Appellate Tribunal ("the Tribunal" for short) dated 29th May, 2015. 2. Following question has been presented for our consideration: "Whether on the facts and circumstances of the case the Hon'ble ITAT was correct in holding that the Assessment order dated 23.02.2000 is passed beyond the period of limitation prescribed u/s.158BE(1)(b) of the Income Tax Act?" 3. Brief f .....

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..... nder Section 158BE(1)(b) of Income Tax Act, 1961 ("the Act" for short).   4. The Tribunal held that the last action of search took place on 13th January, 1998 and therefore, the order of assessment was passed beyond the period of limitation prescribed. The Tribunal did not accept the Revenue's contention that the search had concluded only on 6th February, 1998. In the process, the Tribun .....

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..... drawn on 13th January, 1998 records that the search was temporarily concluded, concededly no further search was carried out on 6th February, 1998. The panchnama of 6th February, 1998 also clearly shows that no articles or things were found or seized. Infact, the search commenced at 11.00 a.m. and ended about in 35 minutes. 6. Learned counsel for the assessee brought to our notice several other de .....

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