VLS FINANCE LTD. & ANR. vs COMMISSIONER OF INCOME TAX & ANR.

Authority: Supreme Court Date: 2016-04-28 AY: 1994-95, 1995-96, 1996-97, 1997-98, 1998-99 Section: 158BC(c), 158BE, 132, 132A, 142(2A), 158BE(1), 153, 142(1), 139, 14 Acts: Income Tax Act 1961 Result: Revenue Citation: (2016) 286 CTR 0146 (SC) : (2016) 134 DTR 0305 (SC) : (2016) 384 ITR 0001 (SC) Justices: A.K. SIKRI & ROHINTON FALI NARIMAN, JJ Appeal No: CIVIL APPEAL No. 2667 OF 2007
Whether the period during which an interim stay of special audit under Section 142(2A) was in operation should be excluded from the limitation period for completing block assessment under Section 158BE --- Held Yes; Whether the limitation period for block assessment should be calculated from the date of first search or last search --- Held from last search (5th August 1998).

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