Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (4) TMI 1099 - AT - Income TaxValidity of proceedings u/s 153C - amendments inserted in Section 153C vide Finance Act, 2014 - HELD THAT:- As per section 153C along with Section 153A of the Act, which was introduced by Finance Act, 2014 w.e.f. 01.10.2014, the six assessment years immediately preceding the AY relevant to the previous year in which search is conducted or requisition is made will come into the purview of block assessment years. In the present case the date of search being 10.03.2015 (previous year 2014-15) and the assessment year being 2015-16 the six assessment years immediately preceding the assessment year relevant to the previous year in which search is conducted or requisition is made are the AY 2014-15, 2013- 14, 2012-13, 2011-12, 2010-11, 2009-10. The year under consideration being 2009-10 indeed falls within the purview of law in view of the amendments inserted in Section 153C vide Finance Act, 2014. As date of search is post- amendment of Section 153A and 153C i.e. on 10.03.2015 therefore, CIT(A) has committed an error in quashing the assessment order. Accordingly, by upholding the validity of proceedings u/s 153C of the Act on the legal issue and we direct the ld CIT(A) to decide the appeal filed by the assessee on merit. Appeal filed allowed for statistical purposes.
|