2018 (10) TMI 1805 - HC - Income Tax

Assessment u/s 153C - Delayed recording satisfaction note - HELD THAT - In the present case the Assessing Officer of the search party and the respondent assessee was the same. In such a factual matrix the Assessing Officer could not have been initiated and passed an Assessment Order under Section 153C of the Act for the Assessment Year 2007-08 as the same was beyond the period of six years from the end of the financial year in which the satisfaction note was recorded by the Assessing Officer. We are not required to examine other issues and contentions raised by the Revenue on merits. Recording the aforesaid the appeal is dismissed in limine without any order as to costs.

Summary

The Delhi High Court dismissed the Revenue's appeal under Section 260(A) of the Income Tax Act in the case of M/s Raj Buildworth Pvt. Ltd. The appeal was dismissed based on a judgment by the Division Bench of the Delhi High Court. The Assessing Officer could not initiate proceedings under Section 153C for the Assessment Year 2007-08 as it was beyond the permissible time frame. The appeal was dismissed without any order as to costs.