https://www.taxtmi.com/caselaws?id=202369 The court held that the Income Tax Appellate Tribunal (ITAT) erred in interpreting Section 132(1) of the Income Tax Act, finding that the assessment orders were not time-barred under Section 158BE. The court emphasized that the limitation period starts from the conclusion of the search as recorded in the last Panchnama, as per Explanation 2 to Section 158BE. Consequently, the court set aside the ITAT's decision and remitted the cases for further consideration on the merits. en-us Tue, 14 Sep 2010 00:00:00 +0530 Sat, 06 Jul 2013 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202369 The court held that the Income Tax Appellate Tribunal (ITAT) erred in interpreting Section 132(1) of the Income Tax Act, finding that the assessment orders were not time-barred under Section 158BE. The court emphasized that the limitation period starts from the conclusion of the search as recorded in the last Panchnama, as per Explanation 2 to Section 158BE. Consequently, the court set aside the ITAT's decision and remitted the cases for further consideration on the merits. Case-Laws Income Tax Tue, 14 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202369