2024 (5) TMI 1689

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....it Jain and Mr. Saksham Singhal, Advocates. For the Respondents Through: Mr. Gaurav Gupta, SSC with Mr. Shivendra Singh and Mr. Yojit Pareek, JSC with Mr. Namit Gupta, Advocate. ORDER 1. These writ petitions have been preferred against the impugned notices dated 12 September 2022 issued under Section 153C of the Income Tax Act, 1961 ["Act"] for Assessment Years' ["AYs"] 2015- 16 [W.P.(C) 2268/2024], 2017-18 [W.P.(C) 2321/2024], 2019-20 [W.P.(C) 2324/2024], 2018-19 [W.P.(C) 2325/2024], 2020-21 [W.P.(C) 2326/2024], 2016-17 [W.P.(C) 2327/2024] and 2014-15 [W.P.(C) 2328/2024], and all consequential proceedings. 2. Bearing in mind the undisputed fact that the Satisfaction Note dated 12 September 2022 issued by the jurisdictional Asse....

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....for a particular AY or AYs' that may form part of the block of ten AYs'. Abatement would be triggered by the formation of that opinion rather than the other way around. This, in light of the discernibly distinguishable statutory regime underlying Sections 153A and 153C as explained above. While in the case of the former, a notice would inevitably be issued the moment a search is undertaken or documents requisitioned, whereas in the case of the latter, the proceedings would be liable to be commenced only upon the AO having formed the opinion that the material gathered is likely to inculpate the assessee. While in the case of a Section 153A assessment, the issue of whether additions are liable to be made based upon the material recove....

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....x AYs' or the "relevant assessment year" would follow the formation of that opinion and satisfaction in that respect being reached. 67. On an overall consideration of the aforesaid, we come to the firm conclusion that the "incriminating material" which is spoken of would have to be identified with respect to the AY to which it relates or may be likely to impact before the initiation of proceedings under Section 153C of the Act. A material, document or asset recovered in the course of a search or on the basis of a requisition made would justify abatement of only those pending assessments or reopening of such concluded assessments to which alone it relates or is likely to have a bearing on the estimation of income. The mere exist....