2025 (2) TMI 1362

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....022 of the Commissioner of Income Tax (Appeals)-28, New Delhi [CIT(A)] passed under s. 250(6) of the Income Tax Act, 1961 [the Act] emanating from assessment order dated 28.12.2018 passed under s. 153C r.w.s 143(3) of the Act. 2. When the matter was called for hearing, the Ld. Counsel for the assessee adverted to the grounds raised and contended that certain legal grounds touching the jurisdictional aspects have been raised and therefore calls for primacy in adjudication. 3. The issues also stated to be common, interlinked and similar in all appeals arising by the assessee for AYs 2010-11 to 2015-16 and by the Revenue for AY 2010-11. Hence, all these cases have been heard together and accordingly adjudicated by a common order. ITA ....

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....nd therefore, the amendment shall not apply in view of the fact that search date under s. 132 in the instant case is 23.07.2015 and on that day, the amendment under s. 153C relating to extended limitation period was not in force. The Ld. Counsel for the assessee referred to the judgment rendered by the Hon'ble High Court in the case of Pr.CIT vs Ojjus Medicare (P.) Ltd. [2024] 161 taxmann.com 160 (Del.) and several other decisions of the Co-ordinate Benches to support the case of the assessee towards exclusion of AY 2010-11 & AY 2011-12 from the ambit of limitation. 6. The Ld. Counsel for the assessee thereafter pointed out that without prejudice to the plea that AY 2010-11 & AY 2011-12 are grossly time barred, the 'Satisfaction Note' it....

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.... lower authorities. The Ld.CIT DR further pointed out that the limitation period should be reckoned as the date of 'Satisfaction Note' falls in AY 2018-19 on which date the limitation period for search assessment stood enhanced from six years basket to ten years basket for the purposes of s. 153A of the Act. 9. We have considered the rival submissions and perused the material available on record. 10. The 'Satisfaction Note' being germane to determination of challenge to assumption of jurisdiction under s. 153C is reproduced hereunder:- 11. We shall first address ourselves to the objections raised by the assessee seeking to challenge the propriety and legality of assessment for AY 2010-11 & AY 2011-12 in question having regard to th....

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....os. 2065 & 2066/Del/2022 are allowed. ITA Nos.2067 to 2070/Del/2022 [Assessment Years : 2012-13 to 2015-16] [Assessee's appeals] 13. With respect to the remaining AYs 2012-13 to 2015-16, the assessee contends that 'Satisfaction Note' recorded for the purposes of jurisdiction of assumption under s. 153C of the Act which is the genesis of assessment framed under s. 153C is clearly vague and non-descript. It is not known from the 'Satisfaction Note' as to what is the quantum of undisclosed income qua different Assessment Years mentioned in the 'Satisfaction Note'. The 'Satisfaction Note' recorded is evidently generic and encompasses several years from AY 2010-11 upto AY 2015-16 in a composite manner. No seized material has been identifie....

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....the grounds of appeal, the Revenue has challenged the relief granted by the CIT(A) towards addition of INR 11,95,50,000/- under s. 68 of the Act on account of receipts of share capital and share premium and estimated 2% commission under s. 69C thereon. 16. As discussed in above-mentioned paras 4 to 12(supra), the AY 2010-11 is outside the ambit of provisions of s.153C as AY 2010-11 in question do not fall within the basket of six years when computed from the year in which the AO of the assessee received 'Satisfaction Note' together with books, documents etc. pertaining to the assessee from the AO of the searched person. The AY 2010- 11 being outside the sweep of s. 153C of the Act, the assessment order giving rise to the additions in que....