2018 (11) TMI 1330

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.....59/COCH/2007. The assessment pertains to two assesses for the block period from 1.4.1989 to 27.7.1993. 2. The facts in brief are thus: Consequent to a search on 27.7.1999 at the residential and business premises of an assessee named M.Raghunathan and a block assessment made pursuant to the search on 31.7.2001, notices were issued under Section 158BD of the Income Tax Act, 1961 ('Act' for brevity) to the present assesses, who are sons of the aforesaid Raghunathan. The block assessment was completed on 2.2.2007, and assessment order at Annexure-A was made against M. Raghunathan @ Raghupanicker, who is the father of the present assesses, namely R.Sunil Das and R.Anil Das. 3. Aggrieved by the assessment order, Sri.Raghunathan filed an appe....

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....n of CIT (Appeals) and hence, there was no time limit, and that the reasonableness of the time should have been calculated from the date of the order of CIT (Appeals). 7. We have heard the learned Standing Counsel for the appellant-Revenue as well as the learned Senior Counsel appearing for the assessees. 8. The question that arises for consideration is whether the order passed by the Assessing Officer (AO) under Section 158BC read with Section 158BD pursuant to the direction of the Commissioner of Income Tax (Appeals) is barred by limitation, and whether the time for completion of assessment should have been calculated from the date of the direction of the appellate authority as alleged? 9. What has to be borne in mind is that the searc....