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2018 (5) TMI 2115 - HC - Income TaxValidity of assessment u/s 153A/153C - proof of incriminating material - assessment in case of third party - HELD THAT:- Third party assessments are to be completed in certain other proceedings has been the subject matter in several other Division Bench judgments including the judgments in the cases of ‘Commissioner of Income Tax vs. Super Malls Pvt. Ltd.’ [2016 (11) TMI 1370 - DELHI HIGH COURT], ‘Commissioner of Income Tax vs. Nau Nidh Overseas Pvt. Ltd.’,[2017 (3) TMI 108 - DELHI HIGH COURT] ‘Commissioner of Income Tax-7 vs. RRJ Securities Ltd.’, [2015 (11) TMI 19 - DELHI HIGH COURT]. and ‘ARN Infrastructures India Ltd. vs. Assistant Commissioner of Income Tax’ [2017 (4) TMI 1194 - DELHI HIGH COURT] The Court is of the opinion that the challenge to the provisions of Section 153 of the Act has been rendered academic to an extent since these judgments have tempered in the condition of the use of statutory powers as it were. Consequently, the Revenue is directed to proceed afresh and re-determine the assessment u/s 153A/153C of the Act in accordance with law having regard to the above judgments, within six months from today. At the same time, it is clarified that the assessee is precluded from urging the bar of limitation having regard to the fact that the order had ensured and bound the parties till now. All rights and contentions of the parties are reserved.
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