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2016 (1) TMI 1336 - ITAT DELHIProceedings initiated under Section 153C - assessment barred by limitation - period of six assessment year as computed with reference to the date of satisfaction recorded by the Assessing Officer of the searched person - Held that:- The six assessment years for which assessment/re-assessment could be made u/s 153C of the Act would also have to be construed as from the reference date of handing over of assets/documents to the Assessing Officer of the assessee. In the case in hand, it would be the date of recording satisfaction under section 153 of the Act i.e. 2nd November, 2009, and so the six assessment years which would eligible for assessment/re-assessment would be from assessment year 2004-05 to assessment year 2009-10. The assessment/re-assessment in respect of assessment year 2002- 03 and 2003-04 would be beyond the period of six assessment year as computed with reference to the date of satisfaction recorded by the Assessing Officer of the searched person. Accordingly, we, therefore, hold that the assessment for assessment years 2002-03 and 2003-04 are outside the scope of section 153C of the Act and being without jurisdiction, liable to be quashed. - Decided in favour of assessee.
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