TaxTMI 
TaxTMI 
2025 (1) TMI 701
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....t request of the parties, they are analogously heard and decided by this common order. Facts of the Writ Petition No.37114 of 2024 are narrated hereunder: - 01. The petitioner has filed the present petition under Article 226 of the Constitution of India challenging the notice dated 15.12.2023 issued by the office of Assistant Commissioner of Income Tax, Central Circle - Indore under Section 153C of the Income Tax Act, 1961, whereby the petitioner has been called upon to prepare true and correct return of income tax for the Assessment Year - 2014 - 15 in the prescribed format as per Rule 12 of the Income Tax Rules, 1962. 02. Facts of the case, in a nutshell, are that the Income Tax Department conducted a search and seizure operation under ....
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....ity for assessment / reassessment in respect of the relevant year, the petitioner chose to file this petition seeking quashment of said notice inter alia on the ground that the initiation of proceedings under Section 153C of the Income Tax Act depends of the circumstances; firstly that the incriminating material pertaining to the person for the relevant years found during the search of the concerned third party's premises; secondly the satisfaction notes in respect of the same have been prepared by the Assessing Officer of the concerned third party's premises during the course of assessment and the same was forwarded to the Assessing Officer of the person; and thirdly that upon receipt of such information / material with satisfactio....
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....y, learned counsel further placed reliance upon a judgment delivered in the case of Commissioner of Income Tax - III v/s Calcutta Knitwears, Ludhiana reported in (2014) 6 SCC 444. Reliance has also been placed upon a judgment delivered by the Division Bench of the High Court of Delhi in the case of Commissioner of Income Tax - 7 v/s RRJ Securities Limited reported in (2016) 380 ITR 612 (Delhi) = MANU/DE/3306/2015. 07. Per contra, Shri Harsh Parashar, learned counsel for the respondents submits that the assessment under Section 153C of the Income Tax Act in respect of other persons must be completed in a timely manner as prescribed under Section 153B of the Income Tax Act i.e. 12 months. In the present case, the assessment will be completed....
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....y objection of the petitioner is that the satisfaction note is undated and unsigned. The petitioner can raise this objection before the Assessing Officer. The issue of limitation is also a mixed question of facts and law. As pointed out by Shri Harsh Parashar, learned counsel for the respondents, the proceedings are bound to be completed within 12 months which is going to be ended on 31.03.2025. The petitioner approached this Court at the very fag end of the period in the month of November - December 2025, therefore, at this belated stage, the petition cannot be entertained. 10. So far as the objections in respect of the satisfaction note recorded by the Assessing Officer of the concerned third party as well as the assessment note in respe....