TaxTMI 
TaxTMI 
2026 (4) TMI 463
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....g of satisfaction under section 153C, reference to special audit under section 142(2A), additions beyond incriminating material, and the action of the Ld. CIT(A) in remanding the matter instead of annulling the assessment. The said grounds are reproduced as under : "1. The assessment order is null and void ab initio because the LAO had no jurisdiction over the assessee. Order passed u/s 127 is illegal, without DIN and by non jurisdictional PCIT etc 2. The assessment is null and void ab initio as satisfaction recorded by LAO of searched person is belated and without DIN and therefore non est in view of Hon'ble SC decision in case of Calcutta Knitwear 3. The assessment is null and void ab initio as the satisfact....
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....lenging the limitation in passing the order u/s 153C of the Act in the case of the assessee. The said additional ground is reproduced as under: "1) On the facts and circumstances of the case as well as in law, the Learned Assessing Officer has erred in passing the assessment order u/s 144 r.w.s 153C of the Income Tax Act, 1961, which is time barred as per the provision of the Act, therefore, the impugned assessment order is bad in law and required to be quash." 3.1 The additional ground being purely legal in nature, going to the root of jurisdiction, and not requiring investigation into fresh facts, is admitted in view of the law laid down by the Hon'ble Supreme Court in National Thermal Power Co. Ltd. v. CIT (229 ITR 383). ....
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....cord. There is no dispute that the satisfaction under section 153C was recorded on 14th October, 2020. The satisfaction note, as reproduced in the assessment records, clearly records that digital data seized during the search contained books of account of the assessee and accordingly proceedings under section 153C were initiated. 5.1 As far as six assessment years to be assessed u/s 153A of the Act is concerned, said six assessment years are taken up from the end of the financial year in which search is conducted. But as far as proceeding u/s 153C of the Act is concerned, the legal position governing computation of limitation under section 153C now stands authoritatively settled by the Hon'ble Supreme Court in CIT v. Jasjit Singh (su....
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.... dis-proportionate. For instance, if the papers are in fact assigned under Section 153C after a period of four years, the third party assessee's prejudice is writ large as it would have to virtually preserve the records for at latest 10 years which is not the requirement in law. Such disastrous and harsh consequences cannot be attributed to Parliament. On the other hand, a plain reading of section 153C supports the interpretation which this Court adopts. " 5.2 Thus, the Hon'ble Supreme Court has held that six years or the ten years, wherever applicable, to be assessed for search assessment has to be reckoned from the date on which the material relevant to the assessee has been transferred to the Assessing Officer by the Assessing....
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....xure A-6 (Samsung Xperia Z5) (i) Details of Panchanama & Annexure through which relevant asset/ document was seized/ requisitioned Panchanama dated 19/11/2017 and Annexure A [List of seized material page] (ii) Date of above Panchnama 19/11/2017 (iii) Address of the place/ premises from where asset/paper/document was seized Residence of Sh. Madhukar C Seth, 1901- Kanakia Aroha, Datapada Road, Near Ambamata Mandir, Borivali (East), Mumbai 400066 iv) Description of relevant asset/paper(s)/document/information As per Annexure A attached. (v) The brief reasons on the basis of which the AO reached to the conclusion that the relevant seized asset/ paper belongs to the oth....