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2019 (12) TMI 218 - HC - Income TaxAssessment u/s 153C - HELD THAT:- As submitted that from the satisfaction note it is evident that the gold has been sent to the petitioner for job work. As submitted that the expression “job work” has not been defined in the Income Tax Act but has been defined under sub-section (68) of section 2 of the Central Goods and Services Tax Act, 2017, to mean any treatment or process undertaken by a person on goods belonging to another registered person and the expression “job worker” shall be construed accordingly. It was submitted that, therefore, from the definition of “job work” it is evident that the goods belong to another person and not the person to whom it is sent for job work. It was submitted that, therefore, the question of the seized gold belonging to the petitioner does not arise, and hence, the impugned notice under section 153C lacks validity. Advocate made an alternative submission that in this case the search was conducted on 27.10.2017, that is, in the financial year 2017-18 relatable to assessment year 2018-19. It was submitted that, therefore, if the gold seized is incriminating material against the petitioner, the same relates to assessment year 2018-19 in respect of which proceedings of scrutiny assessment have already been initiated. It was submitted that, therefore also, the impugned notices under section 153C are not sustainable. Having regard to the submissions advanced by the learned advocate for the petitioner, Issue Notice returnable
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