Validity of assessment u/s 153C - Period of limitation - ...

Income Tax

March 21, 2024

Validity of assessment u/s 153C - Period of limitation - Assessment of income of any other person in search proceedings - The proviso in Section 153C(1) includes not only the question of abatement but also determines the date from which the six-year limitation period should be calculated. - The High court analyzed the relevant legal provisions and case law, emphasizing the need to prevent prejudice to affected parties due to delayed proceedings. It concluded that the assessment orders were indeed barred by limitation, highlighting the unjustified delay in recording satisfaction. Considering the statutory limitation period and lapse of time for completing the assessment, the court quashed the assessment orders.

View Source

← Previous Next →

Validity of assessment u/s 153C - Period of limitation - ...

Income Tax

March 21, 2024

You may also like:

Validity of assessment proceedings initiated u/s 153C - In case of other person u/s 153C of the Act, the starting point for computation of the block period would be the...

Validity assessment proceedings u/s 153C - recording of satisfaction - The ITAT examined the language of Section 153C and referenced the judgment in Ganpati Fincap...

Assessment u/s 153A r.w.s. 153C - Block period - Period of limitation - Where two assessments may result, in the case of a searched entity and the related person, both...

Validity of the assessment order passed u/s 153C read with Section 153A and 143(3) - satisfaction of the AO of the person searched is essential for assuming the...

Assessment u/s 153A or u/s 147/148 - any incriminating information of any undisclosed income of the person not searched which was found during the course of a search...

Validity of Initiation of proceedings u/s 153C - as argued satisfaction note of the searched person and satisfaction note of the petitioner (other than the searched...

Assessment u/s 153C - Period of limitation - although the Assessing Officer of the searched person and the other person(the assessee) was the same, satisfaction was...

Validity of Assessment u/s 153C - whether AO of the searched person has not recorded satisfaction note that the books of accounts/material belongs to the assessee ? - In...

Assessment u/s 153C - Now supposing a search is conducted in one year and documents of other person are handed over to the Assessing Officer, of other person or to the...

Validity of Assessment u/s 153C - recording satisfaction note - In the present case there is neither the recording of satisfaction by the AO of the searched person that...

Assessment u/s 158BD - section 158BD enables assessment of any person, other than the searched person.section 158BC prescribes the procedure for making block assessment...

Additions on the basis of material seized during the search in case of third party without adhering to the provisions of section 153C - The tribunal found that the AO...

Assessment completed u/s 153C - Limitation for completion of assessment - Correct date of search - once it is held that the present assessment year i.e., A.Y 2014-15 is...

Validity of assessment u/s 153C - it is necessary that the satisfaction must be recorded by the AO of the searched person and thereafter the documents are to be handed...

Period of limitation for passing the block assessment order - limitation period is to be counted from the last date of search when the search operation completed - SC

Quick Updates: