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ASSESSMENT IN CASE OF SEARCH AND SEIZURE [Section:-153A]

Income Tax - Search and Seizure - Procedure, Consequences and Impact - 08 - SECTION 153A - ASSESSMENT IN CASE OF SEARCH AND SEIZURE (1) Section153A provides as under:- Notwithstanding anything contained in section 139/147/148/149/151/153 in case of a .....

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sment year falling within 6 assessment years and for the relevant assessment year or years [Inserted by FA, 2017, w.e.f. 1-4-2017] in the prescribed form and verified in the prescribed manner Immediately preceding the assessment year relevant to the .....

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sessment/ reassessment shall be made separately for the six assessment years and for the relevant assessment year or years u/s 153A Provided further that assessment or reassessment, if any, relating to any assessment year falling within the period of .....

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been clarified in the CBDT Circular that the appeal, revision or rectification proceedings pending on the date of initiation of search u/s 132 shall not abate but shall continue. Provided also that no notice for assessment or reassessment shall be i .....

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resented in the form of asset, which has escaped assessment amounts to or is likely to amount to fifty lakh rupees or more in the relevant assessment year or in aggregate in the relevant assessment years b) the income referred to in clause (a) or par .....

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levant assessment year shall mean an assessment year preceding the assessment year relevant to the previous year in which search is conducted or requisition is made which falls beyond six assessment years but not later than ten assessment years from .....

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r and instead of complying with requirement of section 153A regarding issue of notice the AO proceeded with the pending assessment proceedings and passed an assessment order, it was held that the entire action of AO to proceed with assessment proceed .....

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