Tax appeal allowed: AO exceeded s.144C DRP mandate by introducing new findings and recharacterising non-resident receipts as permanent establishment i...
Anonymized petitioner gets partial relief: bank guarantee quashed, PVC-coated fabric released under reduced conditions while valuation proceedings con...
HC held that invocation of section 153C requires concurrent satisfaction by the AOs of the searched person and the non-searched person that seized property or documents relate to a person other than the searched person; no such satisfaction was recorded. The impugned assessment did not rest on incriminating material found against the petitioner during search/seizure, but on information from the investigation unit and evidence collected during and after search proceedings. Consequently, the assessment under section 147 was proper and invocation of sections 153A/153C was unwarranted. The petitioner's challenge to framing proceedings under section 153C was rejected and the assessment under section 147 upheld.
HC held that invocation of section 153C requires concurrent satisfaction by the AOs of the searched person and the non-searched person that seized property or documents relate to a person other than the searched person; no such satisfaction was recorded. The impugned assessment did not rest on incriminating material found against the petitioner during search/seizure, but on information from the investigation unit and evidence collected during and after search proceedings. Consequently, the assessment under section 147 was proper and invocation of sections 153A/153C was unwarranted. The petitioner's challenge to framing proceedings under section 153C was rejected and the assessment under section 147 upheld.
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