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2017 (9) TMI 1593 - HC - Income TaxAdditions made under Section 153C - tangible material of incriminating nature found in search - Revenue submitted that although the amendment to Section 153C bringing on par the period for which the assessments could be reopened in the case of both the searched person and the ‘other person’, was effective from 1st April 2017 it should be viewed as clarificatory and therefore applicable even to the case on hand Held that:- It is seen that as far as AY 2010-11, in terms of Section 153 C, the assessment had to be completed by 31st December 2012. Even the satisfaction note was prepared only on 8th August 2013. The Court is unable to agree with the revenue's submission. It is plain that the amendment to section 153 C of the Act is prospective. In the present case the assessment for AY 2010-11 had abated by the time the satisfaction note was prepared by the AO of the Assessee. The said assessment could not be reopened in the absence of tangible material of incriminating nature relevant for that AY being found. On facts it has been found that there was no tangible material of incriminating nature for the AY in question that could justify the addition made by the AO. See CIT v. RRJ Securities Limited (2015 (11) TMI 19 - DELHI HIGH COURT) - Decided in favour of the Assessee
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