Power to Assess Block Period of 10 Years Not Applicable for Searches Before 1-4-2017

Rupesh Kantilal Savla Vs ACIT (ITAT Mumbai) Power to assess block period of ten years could not be attracted in case of a Income Tax search which had taken place prior to 1-4-2017 In the case of Rupesh Kantilal Savla Vs ACIT Circle 20(3), the Income Tax Appellate Tribunal (ITAT) Mumbai addressed the issue of the block period for assessments in cases of search conducted prior to 1st April 2017. The tribunal ruled that the extended block period of ten years, introduced by the Finance Act of 2017, would not apply to searches that occurred before this date. The case centered on the applicability o...