https://www.taxtmi.com/caselaws?id=435814 The High Court held that in block assessment proceedings under the Income Tax Act, the limitation period of two years should start from the date of the last Panchnama drawn, not the last date of authorization. The Court emphasized that the material collected during the search and recorded in the Panchnama is crucial for determining the limitation period. Therefore, the appeals were dismissed, affirming the High Court's decision that the date of the last Panchnama drawn is the relevant starting point for the limitation period in such cases. en-us Fri, 24 Mar 2023 00:00:00 +0530 Mon, 15 May 2023 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435814 The High Court held that in block assessment proceedings under the Income Tax Act, the limitation period of two years should start from the date of the last Panchnama drawn, not the last date of authorization. The Court emphasized that the material collected during the search and recorded in the Panchnama is crucial for determining the limitation period. Therefore, the appeals were dismissed, affirming the High Court's decision that the date of the last Panchnama drawn is the relevant starting point for the limitation period in such cases. Case-Laws Income Tax Fri, 24 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435814