2019 (1) TMI 414

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....R : HONOURABLE MS.JUSTICE HARSHA DEVANI) 1. Mr. R.K. Patel, learned advocate for the petitioner, submitted that in this case, in case of the searched person, assessment order came to be passed on 31.12.2016 whereas, the Assessing Officer of the searched person has recorded satisfaction, as required under section 153C of the Incometax Act, 1961 on 16.03.2018, i.e. after a period of more than one....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t was submitted that based upon the above judgment, the Central Board of Direct Taxes has issued Circular No.24 of 2015 dated 31.12.2015 stating that several High Courts held that the provisions of section 153C of the Act are substantially similar / pari materia to the provisions of section 158BC of the Act and therefore, the guidelines of the Supreme Court in Calcutta Knitwears's case (supra) app....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ther person. It was submitted that in this case, since the date of receipt of books of account, etc. is 16.03.2018, the Assessing Officer can proceed to assess the petitioner for six years prior to such date, which would be from the Assessment Year 201314 to Assessment Year 201819 whereas, in the facts of the present case, the Assessing Officer has issued notice under section 153C of the Act for s....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....3C of the Act, without recording satisfaction by the Assessing Officer of the petitioner, is invalid. It was further submitted that the Assessing Officer has not independently recorded satisfaction and that the satisfaction note is a reproduction of the satisfaction recorded by the Assessing Officer of the searched person. 5. Lastly, it was submitted that in this case the search took place on 0....