https://www.taxtmi.com/caselaws?id=456129 The HC dismissed the appeal challenging the ITAT's order for the Assessment Year 2008-09 under Section 143(3), affirming that assessments under Section 153C should be based on the date when the AO of the person other than the searched individual assumes possession of seized assets. The Court emphasized that the assessment period should not exceed six years from the date of satisfaction recorded by the AO of the searched person. The decision aligned with the Supreme Court's dismissal of a similar Revenue appeal, reinforcing the interpretation that the date of document transfer, not the search date, is pivotal. en-us Fri, 22 Jul 2022 00:00:00 +0530 Mon, 01 Jul 2024 20:03:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456129 The HC dismissed the appeal challenging the ITAT's order for the Assessment Year 2008-09 under Section 143(3), affirming that assessments under Section 153C should be based on the date when the AO of the person other than the searched individual assumes possession of seized assets. The Court emphasized that the assessment period should not exceed six years from the date of satisfaction recorded by the AO of the searched person. The decision aligned with the Supreme Court's dismissal of a similar Revenue appeal, reinforcing the interpretation that the date of document transfer, not the search date, is pivotal. Case-Laws Income Tax Fri, 22 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456129