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of <h1>Assessing officers can assess third-party income under Section 153C when seized materials belong to others</h1> Section 153C of the Income Tax Act, 1961 empowers assessing officers to assess income of persons other than those directly subject to search or requisition proceedings. When seized assets, documents, or books of account belong to or pertain to a third party, they must be transferred to the appropriate assessing officer with jurisdiction over that person. The receiving officer can then initiate assessment proceedings covering six assessment years preceding the search year plus relevant assessment years. Special provisions apply when materials are received after due dates for filing returns, allowing assessment even in cases where normal limitation periods have expired. The section includes exemptions for certain classes of cases as specified by government rules and does not apply to searches initiated after April 1, 2021.
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