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Commissioner of Income Tax-14 Versus Shree Jasjit Singh

2015 (8) TMI 982 - DELHI HIGH COURT

Assessment u/s 153C - Held that:- It may be noted that in the present case satisfaction note was prepared by the AO on 25th February 2010. Consequently, the finding of the ITAT in the present case that the assessment made under Section 143(1) of the .....

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ant : Ms Suruchi Aggarwal, Senior Standing Counsel with Ms Lakshami Gurung, Junior Standing counsel For the Respondents : Mr Kapil Goel, Adv. with Mr Ankit Gupta, Advs. ORDER 1. This appeal by the Revenue under Section 260A of the Income Tax Act, 196 .....

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ted in the case of M/s Koutons Group on 19th February 2009. Allegedly certain documents belonging to the Respondent Assessee were found. As a result, the assessment of the Assessee was centralized to the ACIT, Central Circle XI on 16th June 2009. The .....

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ned the assessments for the AYs 2003-04 to 2008-09. 3. The question raised before the ITAT was with reference to the first proviso to Section 153C (1). The ITAT has relied upon the judgment of this Court in SSP Aviation Ltd. v. Deputy Commissioner of .....

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years shall abate shall be the date of initiation of the search under Section 132 or the requisition under Section 132A, in the case of the other person (like the Assessee in the present case) "such date will be the date of receiving the books o .....

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e six assessment years will be examined with reference to such date". 4. Although, the ITAT has also referred to its own decision in the case of DSL Properties Pvt. Ltd., which decision is pending consideration in ITA No. 585 of 2013 in this Cou .....

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T, containing the guidelines regarding Section 153C of the Act. Para 2.5 of the said circular clarifies as under: "The AO of the other person assumes jurisdiction under Section 153C with the receipt of the relevant seized material from the AO of .....

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AO of such other person to record any satisfaction/reason before issuing notice under Section 153C and proceeding further, considering the above aspects, it is advisable for maintaining institutional memory that the AO records receipt of the seized .....

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