https://www.taxtmi.com/caselaws?id=267210 DELHI HC held that the AO of a searched person initially assumes possession of seized assets/documents and the AO of any other person acquires possession only once the former is satisfied the items do not belong to the searched person; accordingly assessments for AY 2003-04 and AY 2004-05 fell outside the scope of Section 153C and the AO lacked jurisdiction to assess the assessee for those years. The court further found the seized documents bore no relevance to the assessee's income, so no investigation under Section 153C was warranted and reassessment was impermissible, decision for the assessee. en-us Fri, 30 Oct 2015 00:00:00 +0530 Fri, 22 Aug 2025 13:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267210 DELHI HC held that the AO of a searched person initially assumes possession of seized assets/documents and the AO of any other person acquires possession only once the former is satisfied the items do not belong to the searched person; accordingly assessments for AY 2003-04 and AY 2004-05 fell outside the scope of Section 153C and the AO lacked jurisdiction to assess the assessee for those years. The court further found the seized documents bore no relevance to the assessee's income, so no investigation under Section 153C was warranted and reassessment was impermissible, decision for the assessee. Case-Laws Income Tax Fri, 30 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267210