TaxTMI 
TaxTMI 
2026 (2) TMI 1456
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..../s 144 r.w.s. 153C of the Income Tax Act, 1961 (hereinafter 'the Act') vide order dated 16.03.2024. 2. At the outset, the ld counsel for the assessee drew our attention to the first ground that the order passed by the ld AO u/s 144 r.w.s. 153C of the Act is barred by limitation and hence, without jurisdiction. The relevant grounds reads as under:- "1. That, the notice dated 29.06.2022 issued under Section 153C of the Income Tax Act, 1961 ('the Act') and the assessment order dated 16.03.2024 passed under Section 144 r.w.s. 153C of the Act by the Assessing Officer ('AO') are illegal, bad in law, barred by limitation and without jurisdiction." 3. The ld counsel for the assessee explained that search u/s 132 of th....
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.... 153B(1)(b)(ii) of the Act, there are two limbs provided in this Clause (ii). Ld counsel for the assessee explained that as per Clause (ii), there are two limbs that provides the time limit for completion of assessment u/s 153C of the Act and the first limb of Clause (ii) of the said provision provides the time limit for completion of assessment within 12 months from the end of the Financial Year in which last authorization of search u/s 132 of the Act is executed. According to the ld counsel, as per this, time limit of assessment u/s 153C of the Act in the assessee's case should have been completed by 31.03.2022 as date of search u/s 132 of the Act is dated 06.01.2021. The second limb of Clause (ii) of the said provision provides that time....
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....Pvt. Ltd. (supra As held, before issuing notice under Section 153C of the Act, the Assessing Officer of the searched person must be "satisfied" that, inter alia, any document seized or requisitioned "belongs to" a person other than the searched person. That thereafter, after recording such satisfaction by the Assessing Officer of the searched person, he may transmit the records/documents/things/ papers etc. to the Assessing Officer having jurisdiction over such other person. After receipt of the aforesaid satisfaction and upon examination of such other documents relating to such other person, the jurisdictional Assessing Officer may proceed to issue a notice for the purpose of completion of the assessment under Section 158BD of the....
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....nder Section 153C of the Act against the other person. At the same time, the satisfaction note by the Assessing Officer of the searched person that the documents etc. so seized during the search and seizure from the searched person belonged to the other person and transmitting such material to the Assessing Officer of the other person is mandatory. However, in the case where the Assessing Officer of the searched person and the other person is the same, it is sufficient by the Assessing Officer to note in the satisfaction note that the documents seized from the searched person belonged to the other person. Once the note says so, then the requirement of Section 153C of the Act is fulfilled. In case, where the Assessing Officer of the searched....
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.... No. Particulars ITANo. 5149/DEL/2025 Remarks, if any 1 Search under Section 132 of the Income Tax Act, 1961 ('the Act') 06.01.2021 2. Order passed under Section 127 of the Act 06.01.2021 3. Date of Satisfaction note drawn in the present case 28.06.2022 Issued by DCIT, Central Circle-31, Delhi 4 Notice issued under Section 153C of the Act 29.06.2022 Issued by ACIT, CentralCircle- 31, Delhi 5. Assessment order passed under Section 153C/144 of the Act 16.03.2024 Passed by DCIT, CentralCircle-31, Delhi 5. From the above chart, the ld counsel explained that once the order u/s 127 of the Act is passed and the assessee's case is transferred to the AO with whom t....