TaxTMI 
TaxTMI 
TaxTMI 
2015 (1) TMI 780
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....ssment order passed by the Ld. AO u/s 143(3) of the Income Tax Act, 1961 is illegal and nonmaintainable since the same has to be passed u/s 153C and not u/s 143(3) of the Act. 2. That under the facts and circumstances of the case, the assessment order passed by the Ld. AO deserves to be quashed in toto since it is: a) Not signed by the Ld. AO b) Passed with bias mind c) Passed without recording satisfaction d) Passed without providing opportunity for cross examination e) Passed on the basis of instruments which are defective and not good in the eyes of law. f) Passed on the basis of statements of third parties which were collected at the back of assessee and despite request not being provided to him. g) Passed without making proper ....
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....nvestigation), Unit VI(1), New Delhi, before whom the declaration was admitted, submitted a proposal for centralization of the case. Consequent upon centralization of the case a notice u/s 142(1) was issued on 13.10.2009 to the assessee calling for return of income. The assessee furnished a return of income on 23.03.2010 declaring total income of Rs. 3,83,39,654/- which included income from house property, business and Long Term Capital Gain of Rs. 3,78,13,289/-. The said return was processed u/s 143(1) of the Act on 10.09.2010. Later on, a notice u/s 143(2) was issued and served upon the assessee. The AO framed the assessment u/s 143(3) of the Act at an income of Rs. 14,10,20,905/-by making the various additions. 5. Being aggrieved the as....
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....ation u/s 132 of the Act in the case of Koutons was conducted on 19/02/2009 which is relevant to the F.Y. 01/04/2008 to 31/03/2009 and the relevant assessment year is 2009-10. It is also undisputed that the case of the assessee was centralized by ld. CIT u/s 127 of the Act and the jurisdiction of the assessee from Ward 25(3) to Central Circle 11 was transferred on 16/06/2009, hence previous year would be 01/04/2009 to 31/03/2010 and the A.Y. will be 2010- 11. On the basis of these facts the contention of the assessee in the additional ground is that the assessment order framed u/s 143(3) of the Act for the assessment year in question is not valid and not maintainable. As per him, the date of search in the case of the present assessee would ....
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....erties P. Ltd. (supra) in favour of the assessee accepting the similar contention of the assessee. Similar view has been expressed by the Delhi Bench of the Tribunal in the case of V.K. Fiscal (supra) holding that the date of receiving of the seized documents would become the date of search and six years period would ITA Nos. 1436 & 1707/D/2012 - Jasjit Singh 8 be reckoned from this date. For a ready reference para nos. 19, 21, 22 & 23 of the decision of Delhi Bench of the Tribunal in the case of DSL Properties (supra) are being reproduced hereunder: 19. "We have carefully considered the rival submissions. Proviso to section 153C reads as under: "Provided that in case of such other person, the reference to the date of initiation of the se....
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....assessment year falling within such six assessment years: Provided further that assessment or reassessment, if any, relating to any assessment year falling within the period of six assessment years referred to in this [sub-section] pending on the date of initiation of the search u/s 132 or making of requisition u/s 132A, as the case may be, shall abate." 21. From the above, it is evident that as per clause (b) of subsection (1) of section 153A and second proviso, the AO can be issue notice for assessment or reassessment of total six assessment years immediately preceding the assessment year relevant to previous year in which search is conducted. As per proviso to section 153C, the date of search is to be substituted by the date of receivin....
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....t June, 2010. Accordingly, as per section 153(1), the AO can issue the notice for the previous year in which search is conducted (for the purpose of Section 153C the document is handed over) and six assessment years preceding such assessment year. Now, in this case, the previous year in which the document is handed over is 1st April, 2010 to 31st March, 2011. The assessment year would be A.Y. 2011-12. Six preceding previous years and relevant assessment year would be as under: Previous Year Assessment Year 1.4.2009 to 31.3.2010 2010-11 1.4.2008 to 31.3.2009 2009-10 1.4.2007 to 31.3.2008 2008-09 1.4.2006 to 31.3.2007 2007-08 1.4.2005 to 31.3.2006 2006-07 1.4.2004 to 31.3.2005 2005-06 22. The AO has issued notice u/s 15....