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2015 (3) TMI 605 - ITAT KOLKATAUndisclosed income of the assessee on account of the value of seized precious stones - whether the impugned Assessment Order passed by the AO under sec. 143(3)/153A on 28th December 2006 is without jurisdiction, illegal and void an-initio? - when the AO assumed his jurisdiction, when the Income Tax department issued search warrant on 28-02-2001, which was communicated on 5-3-2001 or whether the AO has assumed jurisdiction on 9-9-04 when the seized materials were handed over to the Income Tax department? - Held that:- Thus on plain reading the provisions of section 132A, 153A, 158BI of the Act, it is clear that the assumption of jurisdiction depends on the date of requisition u/s. 132A. In the Act it has nowhere been provided that assumption of jurisdiction depends on supply of requisitioned materials. Pursuant to the requisition u/s. 132A on 28.2.2001 the jurisdiction could have been assumed only under Chapter XIVB i.e from the date on which the authorized officer has made the requisition and not the date when he received the records/assets pursuant thereto. It is evident that AO assumed jurisdiction on 28.2.2001 when requisition was issued. Section 153A also postulates that action should be initiated as per this section from the date on search u/s. 132 or section 132A by requisition. In the present case, since requisition was made prior to 31-05-2003 when section 153A was not in existence, the assumption of jurisdiction u/s. 153A of the Act by the AO is bad in law and the same is liable to be quashed.AO was not correct in assuming his jurisdiction u/s. 153A of the Act inasmuch as the requisition u/s. 132A was made in this case prior to 31-05-2003. Since we have already quashed the assumption of jurisdiction - Decided in favour of assessee.
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