Delay and lack of Section 153C satisfaction sink Revenue appeals on quashed reassessment notices for past years SC dismissed the Revenue's Special Leave Petitions challenging the HC's quashing of notices issued under Section 153C. It upheld the HC's view that mere ...
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Delay and lack of Section 153C satisfaction sink Revenue appeals on quashed reassessment notices for past years
SC dismissed the Revenue's Special Leave Petitions challenging the HC's quashing of notices issued under Section 153C. It upheld the HC's view that mere existence of power to assess six or ten preceding assessment years does not permit indiscriminate invocation of Section 153C; the AO must first be satisfied that seized material has a bearing on the total income of those years. SC found gross, unexplained delay in filing the SLPs and, finding no ground to interfere with the HC's reasoning, dismissed the petitions on delay as well as on merits.
There is a "gross delay" in filing the Special Leave Petitions which has not been satisfactorily explained by the Revenue. The Court further finds no good ground to interfere with the impugned orders passed by the High Court. The Special Leave Petitions are, accordingly, "dismissed on the ground of delay as well as on merits." Pending applications, if any, also stand disposed of.
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