9911796707
TMI Blog2025 (5) TMI 287X X X X Extracts X X X X X X X X Extracts X X X X ..... initiated pursuant to the notice dated 19.12.2023 [impugned notice] issued under Section 153C of the Income Tax Act, 1961 [the Act] in respect of Assessment Year [AY] 2015-16. 2. The Assessee had filed the return of income for the relevant AY 2015- 16, on 30.09.2015, declaring a total income of Rs. 32,61,010/-. On 18.10.2019, search and seizure operation were conducted under Section 132 of the Act in respect of persons belonging to the Alankit Group. Thereafter, on 19.12.2023, the notice under Section 153C of the Act was issued which is impugned in present petition. 3. The Assessing Officer [AO] of the searched person had recorded a satisfaction note dated 24.06.2022 [the satisfaction note] to the effect that he was satisfied that the do ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the satisfaction note clearly records that the documents have been handed over to the AO of the other person [in this case the Assessee]. The relevant extract of the satisfaction note is set out below: "In view of the above, I am satisfied that these documents also contain information which relates to above referred 'other person' and have a bearing on the determination of its total income. Accordingly, these documents are handed over to the AO of other person, for necessary action in the case of the above referred 'other person' under Section 153C of the I.T. Act 1961 for the relevant assessment years as per the seized documents." [emphasis added] 8. We also consider it apposite to refer to sub-section (1) of the Section 153C of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quisition under section 132A in the second proviso to 51 subsection (1) of section 153A shall be construed as reference to the date of receiving the books of account or documents or assets seized or requisitioned by the Assessing Officer having jurisdiction over such other person: Provided further that the Central Government may by rules made by it and published in the Official Gazette, specify the class or classes of cases in respect of such other person, in which the Assessing Officer shall not be required to issue of notice for assessing or reassessing the total income for six assessment years immediately preceding the assessment year relevant to the previous year in which search is conducted or requisition is made [and for the releva ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ver person other than the searched person. In terms of Section 153B (1) of the Act read with third proviso to said Section, in case of the search executed during the financial year commencing on or after 01.04.2019, the period of limitation for assessment or reassessment under Section 153C of the Act has been specified as twelve months from the end of financial year during which the last authorisation to search under section 132 of the Act or requisition under section 132A of the Act, was executed. 11. In terms of proviso to Section 153C of the Act, the date of receiving of the documents or material by the AO having jurisdiction over the other person [the person other than the one searched] from the AO having jurisdiction over the searched ..... X X X X Extracts X X X X X X X X Extracts X X X X
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