Case Law Details
Supreme Court held that an operative period of interim stay order by High Court which affects passing of Assessment Order by the Assessment Officer is also to be excluded for purpose of computing Limitation Period under Section 158BE(2) of Income Tax Act.
Relevant Extract from Supreme Court Judgment
In effect the central issue is one of limitation, which has the following two facets, viz.;
(a) Whether the period of limitation expired on 31 st August, 2000 or the last date for completing block assessment was 30th June, 2000?
(b) Whether the period between 24th August, 2000 to 15th December, 2006, when interim stay was in operation, required to be excluded for the purposes of counting limitation period?
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Author Bio
what is section 195LB/LC/LD mentioned above???