9911796707
TMI Blog2024 (7) TMI 1634X X X X Extracts X X X X X X X X Extracts X X X X ..... come Tax Act, 1961 (hereinafter referred as 'the Act'), by the ACIT, Central Circle- 16, Delhi (hereinafter referred to as the Ld. AO). 2. A search u/s 132 of the Act was conducted in the case of Shri Rakesh Jain group on 02.11.2017 and Shri Prahlad Kumar Agarwal was also covered under the search operation. During the course of assessment proceedings u/s 153A in case of Shri Prahlad Kumar Agarwal and on perusal of the seized data/documents in case of Rakesh Jain group of cases, certain documents were found pertaining to the assessee and information contained in search documents allegedly pertaining to the assessee were considered and the AO of the searched person recorded his satisfaction on 29.06.2021 and handed over the seized ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t order dated 27.12.2022 is bad in law in view of the latest Judgement of Jurisdictional High Court i.e. Hon'ble High Court of Delhi in the case of Pr. CIT vs. Ojjus Medicare Pvt. Ltd. & Ors., ITA No.52/2024 & Ors., dated 03.04.2024 in which Hon'ble court have held that preceding ten years for reopening the case would be seen from the end of the assessment year in which books of account etc. pertaining to the assessee company were handed over to the AO of assessee company. Since, admittedly in the instant case books of account were handed over to the AO of Assessee Company in AY 2022-23, hence ten years period would not cover the year under consideration. Since the above ground of appeal is purely legal, does not require fresh fac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the end of the AY pertaining to the previous year in which the search was conducted as distinct from the preceding year which is spoken of in the case of the six relevant AYs'. 90. Viewed in that light, and while keeping the period of 01 April 2021 to 31 March 2022 as the constant, the relevant AY would be AY 2022-23. The ten AYs' would have to be computed from 31 March 2023 with the said date indubitably constituting the end of the AY relevant to the previous year of search. Viewed in light of the above, the block period of 10 AYs' would be as follows :- Computation of the ten-year block period as provided under Section 153C read with Section 153A of the Act No. of years AY 2022-23 1 AY 2021-22 2 AY 2020-21 3 AY 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
