Search-assessment jurisdiction is confined to the statutory...

Search-assessment jurisdiction is confined to the statutory ten-year block computed from the search assessment year; assessments outside that period lack jurisdiction. Extension beyond six years requires escaped income represented by an asset: foreign travel expenditure and unsecured loans, being expenditure and liabilities respectively, do not meet that condition. In unabated years, additions must rest on incriminating material found during the search; disclosed transactions, recorded claims, prior-search statements, and material not proving the assessee's payment cannot sustain additions. Search assessments must also be completed within twelve months from the end of the financial year in which the last search authorisation was executed; completion thereafter is time-barred.