IN THE GUJARAT HIGH COURT
BIREN VAISHNAV & BHARGAV D. KARIA, JJ.
Pr. CIT v. Siddhi Vinayak Developers
R/T.A. No. 369 of 2023
21 August, 2023
Appellant(S) by: Varun K. Patel
Opponent(S) by: B.S. Soparkar
Bhargav D. Karia, J.
1. This Tax Appeal is filed under section 260A of the Income Tax Act,1 961 (For short the Act) arising out of the Judgment &Order dated 23-11-2022 passed in IT(SS) A No. 269/AHD/2017 for A.Y. 2011-12 by the Income Tax Appellate Tribunal, Ahmadabad Bench D (Tribunal for short).
2. The Revenue has raised the following substantial question of law arising from the impugned judgement and order passed by the Tribunal:
Whether in the facts and circumstances of the case and in law, the learned Income Tax Appellate Tribunal has erred in quashing the assessment proceedings under section 153C of the Act by holding that the amended provision would not apply to those proceedings emerging from searches initiated prior to 1-6-2015 without appreciating that when the assessing officer assumed jurisdiction for initiation of proceedings under section 153C of the Act, the amended provisions had already been brought into effect?
3. At the outset, learned advocate Mr. Varun Patel appearing for the appellant revenue submitted that the issue raised in this appeal is not res integra in view of the decision of the Honble Supreme Court in case of ITO v. Vikram Sujitkumar Bhatia reported in (2023) 149 taxman.com 123 (SC) : 2023 TaxPub(DT) 2189 (SC).
4. Brief facts of the case are as under:
The assessee is engaged in construction organization/development work. A search was conducted at the premises of the members of Soham Group on 13-6-2013 during which certain incriminating loose papers were found and seized. Search was also carried out of Sakar Group on 12-7-2013 and simultaneous survey action under section 133A of the Act was also carried out at the business premises of the said group.