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of <h1>Assessment dated 29.12.2022 for AY 2011-12 time-barred as section 153C search date and section 153D approval invalid</h1> <h3>DCIT, Central Circle-15, Delhi Versus Geeta Arora</h3> ITAT DELHI - AT held the assessment dated 29.12.2022 for AY 2011-12 is unsustainable as time-barred, since the satisfaction under section 153C must be ... Validity of initiation of section 153C proceedings - Period of limitation - Validity of approval obtained u/s 153D - HELD THAT:- Assessment year involved herein is 2011-12 i.e. beyond the maximum time period of 10 assessment years from the date of section 153C satisfaction i.e. 01.02.2022 relevant to assessment year 2022-23. Various recent judicial precedents in RRJ Securities Ltd. [2015 (11) TMI 19 - DELHI HIGH COURT], Ojjus Medicare (P) Ltd. [2024 (4) TMI 268 - DELHI HIGH COURT] and Jasjit Singh [2023 (10) TMI 572 - SUPREME COURT] have already settled the issue against the department that the date of satisfaction u/s 153C(1) first proviso which has to be construed as the date of search for the purpose of computing the corresponding assessment years in question as the case herein. We thus hold the impugned assessment dated 29.12.2022 as not sustainable in law in very terms. AO had obtained section 153D common approval in assessee’s case on 29.12.2022 which is not sustainable in law in light of PCIT Vs. Shiv Kumar Nayyar [2024 (6) TMI 29 - DELHI HIGH COURT] that such a failure vitiates the entire assessment itself. Assessment framed on 29.12.2022 under section 153C r.w.s. 144 for AY 2011-12 held invalid as time-barred. The Tribunal found the relevant 'date of satisfaction u/s 153C(1) first proviso which has to be construed as the date of search for the purpose of computing the corresponding assessment years' is 01.02.2022, so proceedings cannot reach back to AY 2011-12 beyond the maximum 10 assessment years. Reliance placed on precedents (CIT-7 v. RRJ Securities Ltd.; PCIT v. Ojjus Medicare (P) Ltd.; CIT v. Jasjit Singh) settling that construction. Further, the Assessing Officer's obtaining of a common approval under section 153D on 29.12.2022 was held 'not sustainable in law' in light of PCIT v. Shiv Kumar Nayyar, which treats such failure as vitiating the entire assessment. Consequent to these findings, departmental appeal dismissed and assessee's cross-objection allowed; other pleadings rendered academic.
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