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2022 (8) TMI 784
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....e assessee was also covered in the search. During the course of search carried out at the different premise located in India in M.M Aggarwal Group of cases, documents and data storage devices, etc. belonging to the assessee were found and seized. 3. Consequent upon search and centralization, a notice u/s 153A of the Income-tax Act, 1961 was issued to the assessee on 17.11.2016 which was duly served on the assessee. The return of income u/s 153A of the Act was filed by the assessee on 26.11.2016 declaring loss of Rs.1,56,533/-. 4. Grounds of the revenue pertains to the adjudication by the ld. CIT(A) that no search u/s 132 was undertaken in this case. 5. The operative para of the order of the Ld. CIT(A) is as under: "I have ....
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....dia Pvt. Ltd." has been duly mentioned. The relevant part of the warrant of authorization u/s 132 of the Income Tax Act, 1961 is as under: ----------------If summons under sub-section (1) of Section 37 of the Indian Income-tax Act, 1922 or under sub-Section (1) of Section 131 of the Income Tax Act, 1961, or a notice under sub-section (4) of Section 22 of the Income Income-tax Act, 1922, or under subsection (1) of section 142 of the Income Tax Act, 1961 is issued to xxxx, yyyy, zzzz, ,MSG Finance India Pvt. Ltd., mmmm, gggg...... [name of the person] to produce, or cause to be produced, books of accounts or other documents which will be useful for, or relevant to, proceedings under the Indian Income-tax Act, 1922, or under ....
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....f Section 131 of the Income Tax Act, 1961 are issued. The assessee would produce the documents as required. The warrant is also based on the satisfaction that the assessee company is in position of material which has not been disclosed for the purpose of Income Tax Act, 1961. The warrant reveals that the issuing authority has reason to suspect that such valuable things are kept and are to be found at Plot No. 237/238, Udyog Vihar, Phase-1, Gurgaon and authorized the Officers of the Department to enter and search such place. The 9. Further, we have also gone through the provisions of Section 132 of the Income Tax Act, 1961 which is as under: "Search and seizure. 132. (1) Where the Principal Director General or Director G....
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....922 (11 of 1922), or this Act (hereinafter in this section referred to as the undisclosed income or property), then,- (A) the Principal Director General or Director General or Principal Director or Director or the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner, as the case may be, may authorise any Additional Director or Additional Commissioner or Joint Director, Joint Commissioner, Assistant Director or Deputy Director, Assistant Commissioner or Deputy Commissioner or Income-tax Officer, or (B) such Additional Director or Additional Commissioner or Joint Director, or Joint Commissioner, as the case may be, may authorise any Assistant Director or Deputy Director, Assistant Comm....
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....xamination of any person under this sub-section may be not merely in respect of any books of account, other documents or assets found as a result of the search, but also in respect of all matters relevant for the purposes of any investigation connected with any proceeding under the Indian Income-tax Act, 1922 (11 of 1922), or under this Act." 10. The fundamentals behind the issue of authorization u/s 132 of the Income Tax Act, 1961 and Rule 112(1) of the Income Tax Rules, 1962 can be summarized as under: a. The warrant issuing authority has reasons to believe that issue of notice u/s 131 would not result in fruitful outcome. b. The warrant issuing authority has reasons to believe that issue of notice u/s 142(1) would no....