TMI Blog2022 (5) TMI 1282X X X X Extracts X X X X X X X X Extracts X X X X ..... alls in the previous F.Y. 2016-17 relevant to Assessment Year 2017-18, the immediately preceding six years are Assessment Years 2011-12 to 2016-17. Thus, the year under appeal clearly falls in the block of six years covered by section 153C of the Act. Thus, the assessment for Assessment Year 2015-16 could have been made only u/s 153C of the Act after compliance of provisions of that section. We draw support from the decisions of the Hon'ble High Court of Delhi in the case of RRJ Securities Ltd [ 2015 (11) TMI 19 - DELHI HIGH COURT] and ARN Infrastructure India Ltd [ 2017 (4) TMI 1194 - DELHI HIGH COURT] Assessment order dated 31.12.2016 is framed u/s 143(3) of the Act for the impugned Assessment Year 2015-16. In our considered v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed by the assessing officer is liable to be quashed and CIT(A) erred in not holding so. (c) On the facts and circumstances of the case and in law, the assessment order passed by the assessing officer is without jurisdiction and CIT(A) erred in not holding so. 2. On the facts and circumstances of the case and in law, the CIT(A) has erred in confirming addition of unsecured loans of Rs.4,41,71,480/- made by the assessing officer as alleged unexplained cash credits u/s 68 of Income Tax Act. 1961. 3. On the facts and circumstances of the case and in law, the various alleged adverse inferences drawn / reasons given by the CIT(A) for making / confirming additions are erroneous and not sustainable in law. 4. On the facts and circumsta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orporate office Headquarters are located), Bellary (Karnataka), Anantpur ( Andhra Pradesh), Hyderabad, Mumbai etc. M/s Apple Sponge Power Limit is one of the Group companies. During the course* of search operation, various incriminating documents belonging to M/s Apple Sponge Power Limit was found seized. 2. Search action under section 132 of the Income Tax Act, 1961 has been conducted on F-22, Model Town-II, New Delhi-110009 on 11.11.2014. During the course of search action, consolidated stock statement of (Power Division) for the period 01.4.2014 to 31.08.2014 was found and seized and marked as Page 28 of Annexure A-l. The said page shows the consumable stores amounting to Rs. 39(00,000/- in power plant which was held by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ties of Apple Group. But, no reply was Hied. As the allegation of ploughing back the unaccounted cash in various group companies from bogus and non-existant Kolkata, Muzzafnagar and delhi based companies in the form of unsecured loans has been proved by conducting the spot investigation too. 2,3. The hard disks found from the office premises of Apple Group at B-16, Sector-2, Noida on 11:11.2014 were scanned. On scanning of the hard disks (namely Hard disk no -AW-5/A- 7/HDD of Sh. Amit Choudhary computer), the books of accounts of few companies were found. On perusal of. the books of account of the group companies/entities, it has seen found that like the other Apple Group Companies, the other group entities have also received huge amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T Crossing, Hauzkhas, Delhi-16 No.43 Balaji Nilaya, Opposite Police Quarter, Raghavendra Colony, 1st stage, Bellalry- 583101 The cases of this group are interconnected and required deep investigation to arrive at a logical conclusion. As such for taking a logical conclusion in this group of cases, every single seized document and entry appearing in the seized documents requires deep scrutiny and has its impact on the other cases of the group. Considering the above facts, I am satisfied that it is a fit case for initiation of proceedings u/s 153C of ^ p investigation and to plug the leaked revenue. 4. Before us, the ld. counsel for the assessee vehemently stated that since satisfaction note is dated 02.12.2016, the block period c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the Section does not save complete absence of notice. For Section 292BB to apply, the notice must have emanated from the department. It is only the infirmities in the manner of service of notice that the Section seeks to cure. The Section is not intended to cure complete absence of notice itself. 7. The ld. DR strongly supported the findings of the Assessing Officer. 8. Having heard the rival contentions, we have carefully perused the orders of the authorities below. We are of the considered view that in the case of a person other than a Searched Person , provisions of section 153C of the Act are applicable and in such a case, the date of search or date of requisition, as referred to in Section 153A of the Act is substituted by t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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