TaxTMI 
TaxTMI 
2026 (4) TMI 29
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....perated during the course of search on 21.02.2019 & 03.04.2019. We find that admittedly, the search assessment was framed in pursuant to search action initiated in the case of Avtar Singh Kochar, Gagandeep Singh Kochar, Hari Singh Kochar, M/s H.L. Forex Pvt. Ltd. in the residential premises of appellant son Sh. Sanjay Jain at H. No. 17, Road No. 71, Punjabi Bagh West, New Delhi, was also searched where locker in his name jointly held with his wife were found and restrain order u/ 133(3) of the Act was passed. However, subsequently, on operation of lockers jewellery was found and seized and addition was made which has been deleted by the ld. CIT(A) quashing the assessment proceedings u/s 143(3) of the Act holding that assessment has been completed invoking incorrect provisions of the Act. The relevant para 6.3 & 6.5 of the findings of ld. CIT(A) are reproduced below: "6.3 I have perused the assessment order, submission of the appellant and the facts of the case. It is seen that the last authorization of search u/s 132 of the Act was executed on 03.04.2019. Appellant has submitted a copy of panchnama dated 03.04.2019 in the paper book filed during the appellate proceedings w....
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....he Principal Commissioner or Commissioner: Provided that such revival shall cease to have effect, if such order of annulment is set aside. Explanation .- For the removal of doubts, it is hereby declared that,- (i) save as otherwise provided in this section, section 153B and section 153C, all other provisions of this Act shall apply to the assessment made under this section; (ii) in an assessment or reassessment made in respect of an assessment year under this section, the tax shall be chargeable at the rate or rates as applicable to such assessment year." 6.4.1 Reference is further made to provisions of section 153B of the Act which mention about them last of the authorization as conclusion of search, as under: "Notwithstanding anything contained in section 153, the Assessing Officer shall make an order of assessment or reassessment,- - (a) in respect of each assessment year falling within six assessment years and for the relevant assessment year or years referred to in clause (b) of sub-section (1) of section 153A, within a period of twenty-one months from the end of the financial year in which the last of the authoris....
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....2019-20 should have been framed u/s 153A of the Act as against u/s 143(3) of the Act. Thus, conclusion of the assessment without issuing of jurisdictional notice u/s 153A of the Act vitiates assessment and the conclusion of ld. CIT(A) needs no interference. 5. When aforesaid is considered in the light of approval granted u/s 153D of the Act, on 22.04.2021 we find that on 22.04.2201 itself assessing officer had requested for granting approval by letter F. No. DCIT/CC-25/2020-21/81 dated 22.04.2021 and approval was granted on 22.04.2021 by letter F. No. Addl.CIT/CR-7/2021-22/102. 6. The consolidate approval for 7 Assessment Years 2013-14 to 2019-20 has been granted. It also comes up from the approval that there is a very general observation which has no bearing in the case of assessee as has been mentioned as it is not a case of reliance electronic evidences as for convenience that part of the approval in para 3 of the approval letter is reproduced below: "3. Copies of the final assessment orders should be forwarded to this office immediately after passing the orders. Proposal for retention of seized material should also be forwarded to this office within time as per I....
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....ve, to search the place mentioned at (B) above and duly signed and bearing the seal of the Director General of Income taxflow) Director of Income tax (v.). V. 1, 300Li to Stal/Sm/M. Nesva Jain who was present in the said place at the time and who after reading the said authorisation/after the authorisation was explained in local language viz Hindi by Shrismer Lobech Keren Nueva, 170. signed it, in our presence and along with us in token of having persued the same. 2. As today's search was in continuance of the proceedings of 26/02/2019 we, along with the aforesaid / authorized officers, before the commencement of proceedings today inspected the seals which had been placed on that date and found them to be intact ampored will as narrated in the enclosure. 3. The above mentioned search party ofered themselves for personal search before commencing the search, which was taken/declined- 4. A search of the above mentioned place was carried out by the said party in our presence in an orderly manner without hurting the sentiments of any of the occupants of the premises. Nothing untoward/tho-events-parated-in-the- enclosure, happened in the course of the search. 5. In the cou....