https://www.taxtmi.com/caselaws?id=68691 The Tribunal held that the block assessment order was time-barred and illegal as the Panchnama drawn for lifting the prohibitory order was not considered the execution of the authorization for search. Consequently, the assessment order was quashed. Other issues, including the validity of search and seizure proceedings, addition of unexplained investment, alleged excess stock, and interest charged, became irrelevant due to the quashing of the assessment order. The assessee's appeal was partially allowed based on the time-barred assessment, rendering other grounds moot. en-us Tue, 29 Jan 2008 00:00:00 +0530 Mon, 23 Jul 2012 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68691 The Tribunal held that the block assessment order was time-barred and illegal as the Panchnama drawn for lifting the prohibitory order was not considered the execution of the authorization for search. Consequently, the assessment order was quashed. Other issues, including the validity of search and seizure proceedings, addition of unexplained investment, alleged excess stock, and interest charged, became irrelevant due to the quashing of the assessment order. The assessee's appeal was partially allowed based on the time-barred assessment, rendering other grounds moot. Case-Laws Income Tax Tue, 29 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68691