| |
| The Tax Publishers2020 TaxPub(DT) 0956 (Kol-Trib) INCOME TAX ACT, 1961
Section 153C
Since date of recording of satisfaction is to be construed as AO having jurisdiction to assess searched person under section 153C, therefore CIT(A) was justified in holding assessment framed under section 153C as barred by limitation on that basis.
|
Search and seizure - Assessment under section 153C - Whether date of recording of satisfaction is to be construed as AO having jurisdiction to assess searched person under section 153C - Time barred assessment
Issue arose as to whether CIT(A) was justified in holding assessment framed under section 153C, was barred by limitation in facts and circumstances of case. Held: AO recorded satisfaction on 29.05.2017 and determined block period as 2010-11 to 2015-16 taking into consideration date of search. In terms of decision of High Court of in case of RRJ Securities Ltd. [2015 TaxPub(DT) 4278 (Del-HC)], date of recording of satisfaction is to be construed as AO having jurisdiction to assess searched person under section 153C. In Sarwar Agency (P.) Ltd., Court declined to admit substantial question of law raised by the Revenue challenging the decision in the case of RRJ Securities (P.) Ltd. Therefore, no infirmity in order of CIT(A) was found.
Followed:RRJ Securities Ltd. [2015 TaxPub(DT) 4278 (Del-HC)]
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
IN THE ITAT, KOLKATA BENCH
 SUBSCRIBE FOR FULL CONTENT
|