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2022 (6) TMI 69 - AT - Income TaxAssessment u/s 153C - year of search conducted - Whether jurisdiction under section 153C and the procedure thereof as per the assessee has not been followed? - HELD THAT:- We note that this assessment order passed by the assessing officer is under section 143(3) - The search was conducted on 09.10.2013. The assessment year in this case is 2014-15 and the previous year being 2013-14. Hence the search was conducted during the financial year itself. In this view of the matter, the provisions of section 153C are not at all attracted. The issue raised by the assessee is totally misplaced and not at all applicable in this case. In this regard, we may gainfully refer to the provisions of section 153C which provide that assessment under this section shall be done for 6 assessment years immediately preceding the assessment year relevant to the assessment year in which search is conducted. Hence, the present assessment year is relating to the year of search and hence, assessment procedure for section 153C is not at all applicable. Moreover the provisions of these sections provide that pending assessments shall abate. In this case, since the financial year was itself not over there is no question of assessee having filed a return and assessment proceedings being abated. In this view of the matter, the additional ground raised by the assessee is frivolous without any legal basis and hence the same is dismissed. Unexplained cash found in search - Addition has been made on the basis of seizure of cash at the residence of the assessee and the assessee’s submission is that the same belongs to company is totally self-serving statement de hors any cogent evidence. Hence, we do not find any infirmity in the well reasoned order of the Revenue authorities in this regard. Therefore, the ground raised by the assessee stands dismissed.
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