2006 (1) TMI 187

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....IDENT: The appeal is by the Department and the cross-objections are by the assessee. They arise out of the block assessment made on the assessee pursuant to the search carried out in his premises under s. 132 of the IT Act on 23rd June, 1999. 2. At the very outset, the learned counsel for the assessee raised an additional ground to the following effect: "1. That on facts and circumstances of th....

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....he search was concluded, which will be 30th June, 2001 and since the AO has passed the order only on 31st Aug., 2001 it is the beyond the period of limitation and hence void in law. It has further been stated that since no surcharge is leviable in respect of the block assessment made pursuant to a search carried out on or before 31st May, 2002, the levy of surcharge is invalid. It is prayed that t....

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....V. Rao, after consulting the record drew our attention to p. 36 of the paper book filed by the assessee, which is the copy of the block return filed by the assessee and pointed out that the assessee, which is a company, has itself stated that the date of execution of the last search warrant was 24th Aug., 1999 and if that is the correct position, then the assessment completed on 31st Aug., 2001 wa....

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....that the search which took place on that date was in respect of a locker in the name of the director. 5. On a careful consideration of the above, we are of the view that the block assessment was completed beyond the period of limitation and hence invalid. There is no search in the case of the assessee-company on 24th Aug., 1999. The search which took place on that date was in the case of Anil Ver....