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| The Tax Publishers2020 TaxPub(DT) 3501 (Bang-Trib) INCOME TAX ACT, 1961
Section 153C
As material belonging to assessee was found during course of search in case of third party from searched premises and same had been handed over to AO of assessee subsequently who recorded due satisfaction for initiating proceedings under section 153C. Notice issued under section 153C was valid though assessee was also residing at the same premises.
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Search and seizure - Assessment under section 153C - Validity - Material belonging to assessee was found during course of search in case of third party from searched premises—Assessee being one of the family members also residing at the same premises
Search was conducted at residential premises of said 'G'. Assessee was the family member of said 'G' and stayed the same residential premises with other family members. During the course of search, cash amounting to Rs. 14,80,000 and 1970 gm of gold jewellary were seized as unaccounted from assessee's residence. After completion of search the case was centralised and AO issued notice under section 153C calling upon assessee to file return of income for assessment years under consideration. Assessee raised objection on issuance of notice under section 153C contending that section 153C was applicable only when there was a search in the premises of the third party. Held: As material belonging to assessee was found during course of search in case of third party from searched premises and same had been handed over to AO of assessee subsequently who recorded due satisfaction for initiating proceedings under section 153C. Notice issued under section 153C was valid though assessee was also residing at the same premises.
REFERRED :
FAVOUR : Against the assessee
A.Y. : 2013-14 to 2015-16
INCOME TAX ACT, 1961
Section 145
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