There was search action on assessee on 2-3-2021.Search covered various premises and lockers, including certain Lockers with numbers 299, Locker 2070, and Locker 1320. Subsequent searches on 29/30-4-2021, revealed no seizures, and panchnamas were issued. An assessment order pertaining to assessment year 2015-16 was framed by ACIT on 31-3-2023.  Principal Commissioner invoked section 263 and issued a notice on 24-8-2023, observing that assessment order passed by ACIT was erroneous and prejudicial to interest of revenue. on writ the Assessee contested, said notice by asserting that as per panchnamas dated 29-4-2021 and 30-4-2021 framed in respect of aforesaid lockers, no seizures were made and in absence of any seizure, search stood concluded on 2-3-2021, when first panchnamas were drawn up and therefore, period of limitation for passing an order under section 153A expired on 31-3-2022 and this delay of one year in passing reassessment orders could not be condoned. Dismissing the petition the Court held that   restraint and revocation orders pertaining to Locker 299 unequivocally established that Locker 299 underwent its initial search on 29-4-2021, even though it resulted in no recoveries and that date marked onset of limitation period prescribed under section 153B. therefore, assessee’s assertion, which suggested that searches spanning through 2nd to 6-3-2021, as logged in panchnamas, should be viewed as execution of last authorization under section 132, did not align with factual reality.   Search operation being an ongoing process that definitively concluded on 29-4-2021, when Locker 299 was inspected that rendered assessment under section 153A, which culminated on 31-3-2023, within time limit prescribed under section 153B.  (AY. 2015-16)