Supreme Court · 2016 INSC 351 · Decided 28 April 2016
VLS Finance LTD. & ANR. v. Commissioner of Income Tax & ANR.
- Court
- Supreme Court of India
- Citation
- 2016 INSC 351 · [2016] 3 S.C.R. 390
- Case number
- CIVIL APPEAL No. 2667/2007
- Decided
- 28 April 2016
- Bench
- A.K. SIKRI, R.F. NARIMAN (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 158BE(2)
Headnote
Income Tax Act, 1961 - s. 158BE(2). explanation 1 - Completion of block assessment - Computation of two years period of limitation - Period during which assessment proceedings are stayed by order of a court - Exclusion of - Held: Period during which interim stay of the court is in operation has to be excluded while computing the period of two years as limitation period prescribed for completing the block assessment - On facts, special audit and its report was an integral step towards assessment proceedings - Assessing officer formed an opinion that there was a
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