TaxTMI 
TaxTMI 
2024 (7) TMI 22
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.... upholding the assumption of jurisdiction u/s 153C of the Act and, framing of assessment u/s 153C/143(3) of the Act 1.1. That both the notice issued u/s 153C of the Act and assessment framed u/s 153C of the Act were without satisfying the statutory preconditions contained in the Act and therefore without jurisdiction and therefore deserves to be quashed as such .. 1.2. That while upholding the assumption of jurisdiction the learned Commissioner of Income Tax (Appeals) has failed to appreciate that since neither money, bullion, jewellery or other valuable article or thing belonging to the appellant and nor any books of accounts or documents pertaining to the appellant or any information contained therein relating to the appellant were se....
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.... which are party to the collaboration agreement has denied any kind of payment/receipt of cash under the agreement in their respective statement recorded during post search proceedings. 3.3 That the learned Commissioner of Income Tax (Appeals) has appreciate that the burden is on revenue U/S 69 of the Act such not been discharged on the facts of the Appellant 4. That the learned Commissioner of Income Tax (Appeals) has also in law and on facts in upholding the levy of of Rs. 1,07,2601- U/S 234A of the Act, interest of Rs. 49,87,598/- U/S 234B of the Act 1,2301- U/S 234D of the Act which are not leviable on the facts of the appellant It is therefore, prayed that, it be held that assessment made by the learned Assessing Officer and sust....
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....f the Act at Rs. 1,63,99,140/-. 8. Challenge is validity of this assessment order framed u/s 153C of the Act for the reason that it is invalid because the impugned A.Y is beyond the block of six A.Ys, as per provisions of the Act. 9. It is a settled proposition of law that as per provisions of section 153C of the Act, for taking action u/s 153C of the Act, date of search in the case of the other person would be date of receiving books of account or documents or assets allegedly belonging to the other person and seized in the course of search of the searched person. In other words, date of recording of the satisfaction in the case of the searched person qua the other person becomes date of search in the case of other person [the assessee i....