TaxTMI 
TaxTMI 
2010 (3) TMI 770
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....t under section 153C of the Income-tax Act, 1961 (the Act) directing the petitioner to furnish the return of income under section 153C for the assessment years 2001-02 to 2006-07. 3. The petitioner, an individual, purchased a plot of land in one Samut karsh Co-operative Housing Society being developed by one Savvy Infrastructure Ltd. It appears that a search came to be conducted under section 132 of the Act at the premises of the said Samutkarsh Co-operative Housing Society as well as at the office of the builder - Savvy Infrastructure Ltd. in the year 2008. Subsequently, on the basis that certain documents pertaining to the petitioner have been found and seized during the search, the impugned notices came to be issued against the....
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.... issue the impugned notices for reassessing the petitioner's income under the provisions of section 153C of the Act. 6. Mr. M. R. Bhatt, learned senior advocate for the respondent has invited attention to the averments made in the affidavit-in-reply dated February 22, 2010 made by the respondent and has placed reliance upon the same. 7. A perusal of the impugned notices dated October 7, 2009 indicates that a search was conducted under section 132 of the Act at the premises of Samutkarsh Co-operative Housing Society and Savvy Infrastructure Limited, Ahmedabad. During the course of search, certain documents pertaining to the petitioner were also found and seized. It is on the basis of these documents that notices under sec....
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.... each assessment year falling within six assessment years referred to in clause (b), in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed and the provisions of this Act shall, so far as may be, apply accordingly as if such return were a return required to be furnished under section 139 ; (b) assess or reassess the total income of six assessment years immediately preceding the assessment year relevant to the previous year in which such search is conducted or requisition is made : Provided that the Assessing Officer shall assess or reassess the total income in respect of each assessment year falling within such six assessment years : Provided f....
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....ed over to the Assessing Officer having jurisdiction over such other person and that Assessing Officer shall proceed against each such other person and issue such other person notice and assess or reassess income of such other person in accordance with the provisions of section 153A." 12. On a plain reading of the aforesaid provisions it is apparent that sections 153A, 153B and 153C lay down a scheme for assessment in case of search and requisition. Section 153A deals with procedure for issuance of notice and assessment or reassessment in case of the person where a search is initiated under section 132 or books of account, other documents or assets are requisitioned under section 132A after the 31st day of May, 2003. Section 153B ....