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| The Tax Publishers2020 TaxPub(DT) 1260 (Del-Trib) INCOME TAX ACT, 1961
Section 153C
Six assessment years for which assessments or re-assessments could be made under section 153C, had to be construed with reference to the date of handing-over of assets or documents to AO of assessee i.e. 23-2-2016. Therefore, six assessment years under section 153C in case of assessee would be assessment year 2010-11 to 2015-2016 and therefore, assessment years under consideration i.e. 2008-09 & 2009-10 were beyond the period of six years and AO had no jurisdiction to make section 153C assessment for those years.
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Search and seizure - Assessment under section 153C - Determination of period of six years -
Search was conducted on 20-1-2014 in case of M/s Mapsa Logistics Pvt. Ltd. AO of M/s Mapsa Logistics Pvt. Ltd., recorded his satisfaction on 23-2-2016 that certain document pertaining to assessee i.e. M/s Mapsa Tapes Pvt. Ltd. had been seized during search and seizure operation carried out in case of M/s Mapsa Logistics Pvt. Ltd., AO of assessee also recorded his satisfaction note on 23-2-2016 for initiating proceeding under section 153C read with section 153A and accordingly issued notice under section 153C dt. 23-2-2016 for assessment years 2008-2009 to 2013-2014. Assessee challenged exercise of jurisdiction in relation to assessment years 2008-09 & 2009. Held: Six assessment years for which assessments or re-assessments could be made under section 153C, had to be construed with reference to the date of handing-over of assets or documents to AO of assessee i.e. 23-2-2016. Therefore, six assessment years under section 153C in case of assessee would be assessment year 2010-11 to 2015-2016 and therefore, assessment years under consideration i.e. 2008-09 & 2009-10 were beyond the period of six years and AO had no jurisdiction to make section 153C assessment for those years.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. :
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