Anil Minda and Others vs Commissioner of Income Tax

Court

Supreme Court of India

Date

24 March 2023

Case No.

Civil Appeal Nos. 345-350 of 2012

Result

Dismissed

Bench

M.R. Shah, C.T. Ravikumar

Citation

[2023] 3 S.C.R. 1150 : 2023 INSC 287

Headnote

Income Tax Act, 1961 – ss. 132, 158, 158BC, 158BE(b) – Period of Limitation – Commencement of – Whether the period of limitation of two years for the block assessment under Section 158BC/158BE would commence from the date of the Panchnama last drawn or the date of the last authorization – Held: Supreme Court in the case of VLS Finance Limited held that the relevant date would be the date on which the Panchnama is drawn and not the date on which the authorization/s is/are are issued – It cannot be disputed that the block assessment proceedings are initiated on the basis of the entire material collected during the search/s and on the basis of the respective Panchnama/s drawn – Therefore, the date of the Panchnama last drawn can be said to be the relevant date and can be said to be the starting point of limitation of two years for completing the block assessment proceedings – Appeal allowed. VLS Finance Limited & Another v. Commissioner of Income Tax & Another, (2016) 12 SCC 32 : [2016] 3 SCR 390 – relied on.

C.Ramaiah Reddy v. Assistant Commissioner of Income Tax, (2011) 244 CTR 126 – referred to.

The Judgment of the Court was delivered by M. R. SHAH, J. 1. Feeling aggrieved and dissatisfied with the impugned common judgment and order dated 14.09.2010 passed by the High Court of Delhi at New Delhi in ITA No. 582 of 2009 and other allied appeals, by which the Division Bench of the High Court has allowed the said appeals preferred by the Revenue and set aside the orders passed by the Income Tax Appellate Tribunal, New Delhi (for short, ‘ITAT’) holding that the assessment orders passed in the case of the respective assessees were time barred as the assessments were not completed within t

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