https://www.taxtmi.com/caselaws?id=13615 The HC dismissed the Revenue's appeal, upholding the Tribunal's decision that the assessment order was invalid due to being barred by limitation under section 158BE of the Income-tax Act. The Court determined the search and seizure operations concluded on November 6, 1996, rejecting the Revenue's claim of a later date. It found the seizure of fishing trawlers under section 132(3) inappropriate, emphasizing they should have been seized under section 132(1). The Court ruled that a restraint order under section 132(3) could not extend the time limit for the assessment order, affirming the Tribunal's order. en-us Wed, 02 May 2007 00:00:00 +0530 Wed, 14 Feb 2024 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13615 The HC dismissed the Revenue's appeal, upholding the Tribunal's decision that the assessment order was invalid due to being barred by limitation under section 158BE of the Income-tax Act. The Court determined the search and seizure operations concluded on November 6, 1996, rejecting the Revenue's claim of a later date. It found the seizure of fishing trawlers under section 132(3) inappropriate, emphasizing they should have been seized under section 132(1). The Court ruled that a restraint order under section 132(3) could not extend the time limit for the assessment order, affirming the Tribunal's order. Case-Laws Income Tax Wed, 02 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13615