2025 (12) TMI 1183

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....ibunal) in ITA No. 4772/Del/2024 in respect of Assessment Year 2013-14, whereby the Tribunal had dismissed the appeal filed by the Revenue against the order of Commissioner of Income Tax (Appeal)-26, New Delhi. 2. The facts, which are required to be noted are, that a search and seizure operation under Section 132 of the Income Tax Act, 1961 (the Act) was carried out at the residential premises of Prahlad Kumar Aggarwal in the case of Rajesh Jain Group on 02.11.2017, wherein the Assessing Office (A.O.) of the searched person recorded satisfaction and found certain documents pertaining to the Assessee i.e. the respondent herein, which have bearing on determination of total income for the Assessment Year under consideration and handed over ....

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.... six Assessment Years from preceding year in which satisfaction was recorded, accordingly, the notice u/s 153C of the Act can be issued for Assessment Year 2016-17 to 2021-22 and not for the Assessment Year under consideration i.e. 2013-14. Therefore, the assessment year under consideration i.e. 2012-13 of the Assessee is outside the purview of Section 153C of the Act. The said issue is also not res-integra, as the various High Courts have laid down the ratio in favour of the Assessee and also the Hon'ble Supreme Court in the case of Commissioner of Income Tax Vs. Jasjit Singh [2023] 155 taxmann.com 155(S.C) in SLP Appeal (C) No. 6566 of 2023 vide order dated 26/09/2023. Thus, we find no error or infirmity in the order of the Ld. CIT(A) in ....

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....elevant assessment year or years referred to in sub-section (1) of section 153A He contends that the six Assessment Years shall be the one preceding the Assessment Year relevant to the previous year in which the search was conducted or requisition is made. In other words, it is the submission, the search having been carried out on 02.11.2017, the six years shall also include the Assessment Year 2013-14. 6. We are unable to agree with the said submission made by Mr. Rai in view of the first proviso to the said Section, which reads as under : Provided that in case of such other person, the reference to the date of initiation of the search under section 132 or making of requisition under section 132A in the second proviso to sub....