https://www.taxtmi.com/caselaws?id=57647 A block assessment was held time-barred where the search was treated as concluded on 19 January 1996; the Tribunal found the search had been prolonged without valid justification and that the retrospective explanation to the time-limit provision did not cure the defect. The opening capital addition and the additions relating to loan liabilities were set aside for fresh examination because the Assessing Officer had not properly tested the supporting cash-flow, asset details, seized material and confirmations. The profit from the land development transaction was deleted from the block period because the composite contract was incomplete, no registered sale deed had been executed, and income could not be brought to tax in part before completion. en-us Wed, 26 May 1999 00:00:00 +0530 Sat, 11 Dec 2010 13:12:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57647 A block assessment was held time-barred where the search was treated as concluded on 19 January 1996; the Tribunal found the search had been prolonged without valid justification and that the retrospective explanation to the time-limit provision did not cure the defect. The opening capital addition and the additions relating to loan liabilities were set aside for fresh examination because the Assessing Officer had not properly tested the supporting cash-flow, asset details, seized material and confirmations. The profit from the land development transaction was deleted from the block period because the composite contract was incomplete, no registered sale deed had been executed, and income could not be brought to tax in part before completion. Case-Laws Income Tax Wed, 26 May 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57647