TaxTMI 
TaxTMI 
2025 (7) TMI 295
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....the case, Ld. CIT(A) has erred in law and on facts in confirming the action of Ld. AO in framing the impugned reassessment order and that too without assuming jurisdiction as per law without following the due procedure in accordance with law. 2. That having regard to the facts and circumstances of the case, Ld. CIT(A) ought to have quashed the impugned assessment passed by Ld. AO u/s 143(3). Ld. AO having initiated the proceedings u/s 153C which is evident from the following facts but the Ld. AO has erred in not mentioning section 153C in and on the assessment order: (a) Satisfaction in terms of section 153C was recorded by Ld. AO for the AO for the AY 2015-16 to AY 2021-22. (b) Notices u/s 153C were issued for other AYs i.e. 2015-16 ....
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....ion. 6. That in any case and in any view of the matter, action of Ld. CIT(A) in confirming the action of Ld. AO in making aggregate addition of Rs. 4,89,00,000/- by treating it as alleged unexplained investment u/s 69 and taxing the same u/s 115BBE, is bad in law and against the facts and circumstances of the case. 7. That in any case and in any view of the matter, Ld. CIT(A) has erred in confirming the addition made by Ld. AO in the impugned order is beyond jurisdiction and illegal, also for the reason that such order could not have been made since no incriminating material has been found as a result of search. 8. That in any case and in any view of the matter, Ld. CIT(A) has erred in confirming the action of Ld. AO in making the imp....
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.... income of Rs 17,03,960/-. The Learned AO observed in Para 3 of the assessment order that a search and seizure operation under section 132 of the Act was carried out at the premises of Shri Parveen K Jain / M/s Jainco Ltd on 6-1-2021 wherein mobile phone of Shri Vaibhav Jain was seized. On perusal of WhatsApp chats of Shri Vaibhav Jain with Asyush Jain, it was observed that there was an image of agreement to sell relating to sale of property at D-60, Preet Vihar, Delhi-110092 was found. On perusal of the said image, it was observed that total sale consideration of the property was fixed for Rs 7,40,00,000/- and advance payment of Rs 50,00,000/- was received on 26-09- 2020. The Learned AO of the searched person on perusal of the income tax r....
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....hird person. Accordingly, the date of search qua the assessee becomes 25-11-2022 relevant to assessment year 2023- 24. Hence, the year under consideration i.e assessment year 2021-22 falls within the block period of assessments to be framed under Section 153C of the Act, whereas, the learned AO for the assessment year 2021-22 had framed the assessment under Section 143(3) of the Act based on the original date of search of 6-1-2021 (relevant to Assessment Year 2021-22) conducted in Hans group of cases. 4. The Ld AR before us placed on record the orders passed by the Coordinate Benches of Tribunal in connection with the same search wherein similar assessments framed under section 143(3) of the Act on the third person was declared void ab in....
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....Assessment Year 2022-23. Based on such matrix, the assessment upto Assessment Year 2021-22 stood covered within ambit of section 153C of the Act. This being so, domain for assessment qua undisclosed income for Assessment Year 2021-22 falls within sweep of section 153C of the Act. The AO has committed substantive error in proper appreciation of jurisdictional provisions of section 153C of the Act by excluding Assessment Year 2021-22 from the ambit of section 153C of the Act erroneously based on actual date of search rather than based on date of receipts of incriminating documents. In order to frame assessment based on the searched document, the notice ought to have been issued under section 153A r.w.s. 153C of the Act. 15. The regular asse....
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.... same is reproduced as under:- 6. Further, we also refer to the order u/s 7(1) of the Right to Information Act, 2005. The relevant part of this order is reproduced as under:- Sl. No. Information sought Reply To furnish the following information for research purposes a. Whether any Notice u/s 153C was issued for AY 2021-22 and if yes, please provide certified copy of such approval No notice u/s 153C of the Act was issued as the assessment in the instant case was completed u/s 143(3) of the Act. b. Whether any approval u/s 153D was taken for AY 2021-22 and if yes, please provide certified copy of such approval No approval u/s 153D of the Act was taken as the assessment in the instant case was completed u/s 143....