Validity of Assessment u/s 153C - The period of six years would ...

Assessments Void as Six-Year Period u/s 153C Starts from Satisfaction Note, Not Search Date.

May 20, 2024

Case Laws Income Tax AT

Validity of Assessment u/s 153C - The period of six years would have to be reckoned with respect to the date of recording of satisfaction note, not the date of search. The court concluded that assessments made for AY 2012-13 u/s 144 r.w.s. 142(1), consequent to the satisfaction note recorded on 18.11.2013 (AY 2014-15), ought to have been made u/s 153C. Since the provisions of Section 153C were not invoked, the assessment made u/s 144 r.w.s. 142(1) is treated as void ab initio.

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Validity of Assessment u/s 153C - The period of six years would ...

Assessments Void as Six-Year Period u/s 153C Starts from Satisfaction Note, Not Search Date.

May 20, 2024

Case Laws Income Tax AT

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