https://www.taxtmi.com/caselaws?id=215463 The High Court upheld the Tribunal's decision deeming the assessment order under Section 158BE as time-barred. The Court agreed that the assessment order should have been passed within one year from the last valid panchanama, which was dated 19.2.1996. As there was no seizure after that date, subsequent actions were deemed invalid. The Court dismissed the revenue's appeal, finding no legal flaw in the Tribunal's reasoning. Consequently, the assessment order was held to be time-barred. The connected appeal by the assessee challenging findings on merits was also dismissed due to the limitation issue, concluding the legal proceedings in the case. en-us Wed, 22 Feb 2012 00:00:00 +0530 Tue, 07 Aug 2012 07:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215463 The High Court upheld the Tribunal's decision deeming the assessment order under Section 158BE as time-barred. The Court agreed that the assessment order should have been passed within one year from the last valid panchanama, which was dated 19.2.1996. As there was no seizure after that date, subsequent actions were deemed invalid. The Court dismissed the revenue's appeal, finding no legal flaw in the Tribunal's reasoning. Consequently, the assessment order was held to be time-barred. The connected appeal by the assessee challenging findings on merits was also dismissed due to the limitation issue, concluding the legal proceedings in the case. Case-Laws Income Tax Wed, 22 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215463