https://www.taxtmi.com/caselaws?id=797164 Assessment against a person other than the searched person under the search-assessment framework depends on the date seized material is handed to that person's Assessing Officer. Where handover and satisfaction occur on or after 1 April 2021, that framework is excluded and reassessment is the prescribed route; the notice and consequential assessment were quashed for lack of jurisdiction. Penalty limitation for a matter not linked to assessment proceedings begins when the Assessing Officer refers the matter for penalty action. As the penalty order was passed after the applicable six-month period, the penalty for accepting prohibited loans or deposits was time-barred and quashed. en-us Wed, 12 Aug 2026 00:00:00 +0530 Tue, 18 Aug 2026 08:35:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797164 Assessment against a person other than the searched person under the search-assessment framework depends on the date seized material is handed to that person's Assessing Officer. Where handover and satisfaction occur on or after 1 April 2021, that framework is excluded and reassessment is the prescribed route; the notice and consequential assessment were quashed for lack of jurisdiction. Penalty limitation for a matter not linked to assessment proceedings begins when the Assessing Officer refers the matter for penalty action. As the penalty order was passed after the applicable six-month period, the penalty for accepting prohibited loans or deposits was time-barred and quashed. Case-Laws Income Tax Wed, 12 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797164