TaxTMI 
TaxTMI 
2015 (8) TMI 214
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.... appeals in both years reads as under : "The learned Assessing Officer as well as Commissioner of Income-tax (Appeals) have erred in not declaring the assessment barred by limitation, the search having been conducted in December 13, 2005 and assessment having been completed in December 2007, the learned Assessing Officer had correctly requested in the first week of February, 2008 to the Assessing Officer having jurisdiction over M/s. R.L. Industries for taking the records which consisted in only 4files. Even the Assessing Officer's Additional Commissioner wrote to him on March 4, 2008 to take the record and necessary action but no action was take....
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....receding to the year of search. He, therefore, submitted that as per the proviso to section 153C, the date of receiving the books of account would be the date of search and, therefore, the notice under section 153C could not have been issued for the assessment years 2001-02 and 2002-03. Accordingly, the issue of notice under section 153C was barred by limitation and consequently, the assessment for these two years is non est and void ab initio. 4. The learned Departmental representative, on the other hand, relied upon the orders of authorities below and submitted that the notice has been validly issued on the basis of search which took place in the year 2005. He, therefore, submitted that the orders of authorities below should be sustained....
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....t in the case of the assessee, assessment has been completed on the basis of notice under section 153C which was issued on March 24, 2009 and the seized material pertaining to the assessee was received on March 12, 2009 from the Assistant Commissioner of Income-tax, Central Circle-17. In the light of these facts, let us examine the relevant provisions of the Income-tax Act. Section 153C reads as under : "153C.(1) Notwithstanding anything contained in section 139, sec tion 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that any money, bullion, jewellery or other valuable article or thing or books o....
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.... in the notice, the return of income in respect of 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." 8. Thus, as per section 153A(1)(b), the Assessing Officer is empowered to assess or reassess the total income of the six assessment years immedi....
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.... section 153C is also quashed. 9. Since we have quashed the assessment order, the other grounds raised by the assessee in both years, which are against the merits of the additions, do not survive for adjudication. 10. I.T.A. Nos. 4814/Del/2012 and 4816/Del/2012 are the assessee's appeals for the assessment years 2001-02 and 2002-03 respectively against the levy of penalty under section 271F amounting to Rs. 5,000 each. As we have quashed the issue of notice under section 153C, the levy of penalty upon the assessee for failure to furnish the return in pursuance of such notice cannot be sustained. The same are also cancelled. 11. I. T. A. Nos. 4813/Del/2012 and 4815/Del/2012 are the assessee's appeals for the assessment years 2001-....