2023 (5) TMI 552

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....lak Mitra, Adv. ...for the appellant Mr. S. Kejriwal, Adv. Mr. N. Mittal, Adv. ...for the respondent ORDER The Court :- It appears that there is a delay of twenty days in filing this appeal. We have perused the affidavit filed in support of the delay condone petition and we find that sufficient cause has been shown for not preferring the appeal within the period of limitation. Hence, the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e petition in respect of the similar issue in (2017) 79 Taxman 115 (SC) CIT -vs-RRJ Securities Ltd.? iii) WHETHER the Ld. Tribunal was unjustified in law in adjudicating the matter in favor of the assessee by citing the case of Veer Prabhu Marketing where notice was issued u/s 153 C and not u/s 153A as in this instant case ? iv) WHETHER ld tribunal has committed a gross error in ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... involved in the instant case is the scope of assessment under Section 153A of the Income Tax Act. The legal issue which has been raised by the revenue has been answered by the Hon'ble Supreme Court in the case of Principal Commissioner of Income Tax, Central-3 vs. Abhisar Buildwell [P] Ltd. reported in [2023] 149 taxmann.com 399 [SC]. The Hon'ble Supreme Court has summarised the legal position in....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....; ii] all pending assessments/reassessments shall stand abated; iii] in case any incriminating material is found/unearthed, even, in case of unabated/completed assessments, the AO would assume the jurisdiction to assess or reassess the 'total income' taking into consideration the incriminating material unearthed during the search and the other material available with the AO inclu....