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TMI Blog2008 (7) TMI 23X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 158 BE - impugned order having been passed beyond the period of one year from the end of the month in which the last authorization for search had been executed - no substantial question of law arises – revenue’s appeal is dismissed - 489/2005 - - - Dated:- 22-7-2008 - Advocates who appeared in this case: For the Appellant : Mr R. D Jolly with Mr Paras Chaudhary For the Respondent : Mr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r search under Section 132 had been executed, the assessment made under Section 158BC, therefore deserves to be vacated." A reading of the aforesaid ground of appeal before the Appellate Tribunal makes it clear that the question was with regard to the bar of limitation in making an assessment order for the block period under Section 158 BC. The limitation is prescribed, admittedly, by the provis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ments or assets by the Authorised Officer." A reading of the said Explanation 2 indicates that what is crucial is to note the date of conclusion of the search as recorded in the last panchnama drawn in relation to any person in whose case the warrant of authorization had been issued. That date on which the search has concluded would be deemed to be the date on which the authorization would have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arrived at by the Tribunal on the basis of the factual position that the date and time of the search and the close of the search was recorded in the panchnama, cannot be faulted. The closure of the search recorded in the panchnama was at 3.45 pm on 30.08.1996. The Tribunal also noted that this was the only panchnama and there was no other panchnama prepared nor any further material was found in co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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