https://www.taxtmi.com/caselaws?id=277127 The Tribunal dismissed the revenue appeals and allowed the cross objections of the assessee, holding that the block assessment order passed under section 158BD was barred by limitation and therefore quashed. The Tribunal emphasized the need for a reasonable period for issuing notice under section 158BD, citing precedents and the scheme of the Income-tax Act. It was held that issuing such notice after three years from the completion of assessment in the searched person's case is beyond a reasonable period, rendering the block assessment order invalid. en-us Fri, 06 Jan 2012 00:00:00 +0530 Mon, 26 Nov 2018 16:20:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277127 The Tribunal dismissed the revenue appeals and allowed the cross objections of the assessee, holding that the block assessment order passed under section 158BD was barred by limitation and therefore quashed. The Tribunal emphasized the need for a reasonable period for issuing notice under section 158BD, citing precedents and the scheme of the Income-tax Act. It was held that issuing such notice after three years from the completion of assessment in the searched person's case is beyond a reasonable period, rendering the block assessment order invalid. Case-Laws Income Tax Fri, 06 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277127