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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 provides as under:- Notwithstanding anything contained in section 139/147/148/149/151/153. In case of any person where search is initiated under section 132, Then the Assessing Officer shall issue a notice to such person (Notice under section 153A) requiring him to furnish within such period, as may be specified in the notice. The return of income in respect of each assessment year falling in the specified p .....

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section 153A for Assessment year 2009-10 to Assessment Year 2014-15. If the assessment/ reassessment relating to any assessment year falling within the specified period of 6 years is pending under section 143(3)/ 144/ 147 on the date of initiation of search under section 132, then such pending assessment/ reassessment shall abate i.e. come to an end. The assessment/ reassessment shall be made under section 153A only. It has been clarified in the CBDT Circular that the appeal, revision or rectif .....

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