The Tax PublishersCivil Appeal No. 777 of 2018
2020 TaxPub(DT) 1578 (SC)

INCOME TAX ACT, 1961

Section 261 Section 153A

Where the Department preferred SLP to appeal against the judgment of Delhi High Court in Pr. CIT Central-3 v. Surya Vinayak Industires Ltd, J.H. Business India (P) Ltd., Sanjay Jain, PPC Business and Products (P) Ltd. [ITA Nos. 290, 605 to 610, 637 to 641 & 850/2016, dt. 17-7-2017] : 2018 TaxPub(DT) 4840 (Del-HC), whereby the High Court held that in the present case, Court was satisfied that second visit by search party to Ashok Vihar premises on 15-5-2007 did not result in anything new being found that belonged to any of the searched parties. Second visit and Panchnama drawn up on that date could not lead to postponement of the period for completion of assessment with reference to section 153B(2)(a), the Supreme Court granted two week further time to the counsel for the appellant to file an affidavit of valuation and Ad valorem court fee, failing which, the appeal would stand dismissed for non-prosecution automatically without further reference to the court.

Appeal (Supreme Court) - Special leave petition - Search and seizure - Assessment under section 153A--Postponement of limitation period under section 153B(2)

Department preferred SLP to appeal against the judgment of Delhi High Court in Pr. CIT Central-3 v. Surya Vinayak Industires Ltd, J.H. Business India (P) Ltd., Sanjay Jain, PPC Business and Products (P) Ltd. [ITA Nos. 290, 605 to 610, 637 to 641 & 850/2016, dt. 17-7-2017] : 2018 TaxPub(DT) 4840 (Del-HC), whereby the High Court held that in the present case, Court was satisfied that second visit by search party to Ashok Vihar premises on 15-5-2007 did not result in anything new being found that belonged to any of the searched parties. Second visit and Panchnama drawn up on that date could not lead to postponement of the period for completion of assessment with reference to section 153B(2)(a). Held: The Supreme Court granted two week further time to the counsel for the appellant to file an affidavit of valuation and Ad valorem court fee, failing which, the appeal would stand dismissed for non-prosecution automatically without further reference to the court.

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