2017 (9) TMI 670

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....ellate Tribunal (ITAT) in ITA Nos. 4566 to 4568/Del/2009 for Assessment Year (AY) 2002-03. By an order dated 15th November 2011, while admitting these appeals, the following questions were framed for consideration by this Court: "1. Whether the Income Tax Appellate Tribunal is correct in annulling the block assessment order? 2. Whether the Income Tax Appellate Tribunal has erred in law in presuming that the seized document did not belong to the respondent? 3. Whether the order of Income tax Appellate Tribunal is perverse in the facts and circumstances of the case?" 2. ITA Nos. 41 and 125 of 2017 are directed against a common order dated 10th December 2015 in ITA Nos. 41 and 42/Del/2010 for AYs 2000-01 and 2002-03. While admittin....

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....l Commissioner of Income Tax Central Circle-II v. Satkar Fincap Ltd. [2017] 393 ITR 378 and Principal Commissioner of Income Tax (Central-2) v. Nau Nidh Overseas Pvt. Ltd. [2017] 394 ITR 753 (Delhi) to urge that, notwithstanding the fact that the search in the present case took place prior to the amendment to Section 153C of the Act with effect from 1st June 2015, it is sufficient, for the purpose of initiation of proceedings under Section 153C of Act, that the seized documents pertained to the Assessee and did not have to be shown at that stage to be belonging to the Assessee. 7. Learned counsel for the Respondents-Assessees, on the other hand, pointed out that this Court has, in Principal Commissioner of Income Tax (Central-2) v. Vinit....