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of <h1>Section 28BB of Customs Act: Inquiry or Investigation Must Finish in 2 Years, Extendable by 1 Year if Justified.</h1> Section 28BB of the Customs Act, 1962, mandates that any inquiry or investigation leading to a notice under section 28 must be completed within two years from the initiation date of an audit, search, seizure, or summons. The Principal Commissioner or Commissioner of Customs can extend this period by one year if justified and documented. When calculating this period, any time during which a court or tribunal has granted a stay or time taken to obtain information from overseas authorities is excluded. This provision does not apply to proceedings initiated before the Finance Bill, 2021 received presidential assent.
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