9911796707
TMI Blog2025 (5) TMI 364X X X X Extracts X X X X X X X X Extracts X X X X ..... r alia, impugning the separate notices dated 26.12.2019 [impugned notices] issued under Section 153C of the Income Tax Act, 1961 [the Act] in respect of Assessment Years [AYs] 2012-13, 2013-14, 2014-15, 2015-16, 2016-17, and 2017-18. The petitioner also impugns an order dated 17.03.2021 [impugned order] passed by the Assessing Officer [AO] disposing of the petitioner's objections and prays that the respondent be restrained from proceeding further pursuant to the aforesaid impugned notices. 2. The petitioner seeks to impugn the notices, inter alia, on the ground that no incriminating material was found pursuant to the search conducted under Section 132 of the Act or a requisition made under Section 132A of the Act in respect of any other pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thirty-one parcels, two parcels contained bills and therefore, no questions were raised regarding the said parcels. Further enquiry was conducted in respect of the remaining parcels and notices under Section 131 of the Act were issued to the aforesaid two individuals. Statements were also recorded under Section 131 (1) (a) of the Act. The said proceedings were converted into a search under Section 132 of the Act on the warrant of authorization being received from the concerned authorities. During the search, the statement of Sh. Suresh Kumar Jaikishan Bangarwa was recorded under Section 132 (4) of the Act. During the search proceedings a parcel (parcel no. J-9) containing Fine Gold weighing 49 gms. valued at Rs. 1,32,288/- was seized. It w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elating to AYs 2012-13, 2013-14, 2014-15, 2015-16, 2016-17 and 2017-2018. Further the AO having jurisdiction in case of the petitioner had not recorded any satisfaction to the said effect. 4. A plain reading of the satisfaction note dated 03.09.2019 indicates that the AO did not record any finding to the effect that the material handed over had bearing on the income of the petitioner for AYs 2012-13 to 2017-18. Concededly, absent any incriminating material for the relevant assessment years, the proceedings under Section 153C of the Act could not be initiated for the said years. 5. The aforesaid issue is covered by the decision of this court in Saksham Commodities Ltd. v. Income Tax Officer: [2024] 161 taxmann.com 485 (Delhi) and the decis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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