9911796707
TMI Blog2018 (9) TMI 886X X X X Extracts X X X X X X X X Extracts X X X X ..... ther and are being disposed of by this consolidated order for the sake of convenience. 3. The assessee has raised several grounds of appeal but we are first adjudicating the jurisdictional issue raised by the assessee by way of ground of appeal No.4, which reads as under:- "Assessment is Time Barred 4. failed to appreciate that six years prior to the assessment year in which documents were received by the jurisdictional Assessing Officer of the Appellant, which can be reassessed to tax, start from AY 2002-03 and hence reassessment made for AY 1999-00 is time barred;" 4. Briefly, in the facts of the case, the assessee had originally filed return of income on 31.08.2009. Search and seizure operation under section 132 of the Act was ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... period of six years starting from assessment year 2008-09 since the information was received by the Assessing Officer, Incharge of assessee on 15.06.2007. 8. The learned Departmental Representative for the Revenue on the other hand, placed reliance on the orders of Assessing Officer and CIT(A). 9. We have heard the rival contentions and perused the record. Briefly, in the facts of the case, search under section 132 of the Act was carried out at the premises of Shri Shreeram H. Soni on 29.07.2003, wherein certain documents relating to the assessee were found and seized. The said information was received by the Assessing Officer, Incharge of assessee on 15.06.2007, which is clearly mentioned in the assessment order at page 5 of the said or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r re-assess the total income in respect of each assessment year falling within such six assessment years. In other words, period of assessment or re-assessment has to be within a period of six years from the year of receipt of information by the Assessing Officer, Incharge of such other person. In the case of assessee, the year of receipt of information is assessment year 2008-09 and in case the period of six years is counted from that year, then it would be up to assessment year 2002-03; whereas the assessee is in appeal before us for the assessment completed relating to assessment years 1999-2000 to 2001-02. The learned Authorized Representative for the assessee has placed heavy reliance on the ratio laid down by the Hon'ble High Court of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tiation of the search under Section 132, would abate. 6. The case of the Revenue is that the first proviso to Section 153 C refers only to the second proviso to Section 153 A(1) of the Act, which only indicates that any assessment relating to any AY falling within the period of six AYs which is pending as of the initiation of search shall abate. Therefore, the second proviso to Section 153 C is also concerned only with the aspect of abatement of pending assessments. According to the Revenue, this makes no difference to the computation of the block of six years preceding the AY relevant to the previous year /in which the search was conducted. In other words, according to the Revenue, the block period for both the searched person and the & ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of income of the other person has to proceed in accordance with provisions of Section 153A of the Act. Section 153A requires that where a search has been initiated under Section 132 of the Act, the AO is required to issue notice requiring the noticee to furnish returns of income in respect of six assessment years relevant to the six previous years preceding the previous year in which the search is conducted. As discussed hereinbefore, by virtue of second proviso to Section 153A, the assessment/reassessment pending on the date of initiation of search abate. In the context of proceedings under Section 153C of the Act, the reference to the date of initiation of the search in the second proviso to Section 153A has to be construed as the date o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trued with reference to the date of handing over of assets/documents to the AO of the Assessee." 9. The said decision in RRJ Securities (supra) has been followed by this Court subsequently in ARN Infrastructure India Ltd. v. Assistant Commissioner of Income-tax, Central Circule-28, New Delhi [2017] 394 ITR 569 (Del.)." 13. The Hon'ble High Court also considered the amendment to section 153C of the Act by Finance Act, 2017 and held that the said amendment in effect stated that block period for searched person as well as other person would be the same six years immediately preceding year of search. It was further held by the Hon'ble High Court that the said amendment was prospective. The Hon'ble High Court also noted the fact that the Re ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
