Period taken to approach Settlement Commission & its rejection is to be excluded for block assessment

HIGH COURT OF MADRAS Super Cloth versus Assistant Commissioner of Income-tax  TAX CASE (APPEAL) NOS. 1169 to 1171 OF 2005 JUNE 6, 2012 JUDGMENT Mrs. Chitra Venkataraman, J. These tax case appeals have been filed by the assessees against the order of the Income Tax Appellate Tribunal in respect of the block assessment period 1991-92 to 2001-02 raising the following questions of law:-  1.  Whether the Tribunal was right in upholding the block assessment made under Section 158BC of the Act by holding that the period taken to approach the Settlement Commission and its rejection...