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BHARGAV D. KARIA, D. N. RAY
Bhavin Kishorebhai Zinzuwadia – Appellant
Versus
Assistant Commissioner Of Income Tax Central Circle 2(3), Ahmedabad – Respondent
JUDGMENT :
(Bhargav D. Karia, J.)
1. Heard learned advocate Mr. B.S.Soparkar for the petitioner. Learned Senior Standing Counsel Mr. Varun Patel for the respondent.
2. The petitioner has challenged the notice dated 06.11.2019 issued under section 153C of the Income Tax Act,1961 [for short ‘the Act’] for the Assessment Years 2009-10 to 2014-15.
3. The notice under section 153C of the Act was originally issued on 05.08.2019 for A.Y. 2011-12 to 2017-18. However, on 23.10.2019, the respondent withdrew the same and issued fresh notices for A.Y. 2009-10 to 2014-15 on 06.11.2019.
4.The petitioner, on receipt of the notices, vide letter dated 18.11.2019 requested the respondent assessing officer for documents relied upon by the respondent along with satisfaction recorded under section 153C of the Act. The respondents supplied satisfaction recorded by the Assessing Officer of the searched person on 31.03.2018 as well as the satisfaction recorded by the respondent vide letter dated 25.11.2019. As per the satisfaction note, for initiation of the assessment proceedings under section 153C of the Act, it is revealed that during the course of search at the office premises of M/s. Venus Infrastruct
The court held that notices under Section 153C are valid despite delays in recording satisfaction, as the extended assessment period allows for ten years from the previous year of the search.
The court established that unreasonable delays in recording satisfaction notes under Section 153C of the Income Tax Act invalidate subsequent notices, emphasizing the imperative for timely procedural....
Consolidated satisfaction note under section 153C without year-wise segregation of incriminating material for each assessment year is invalid, quashing jurisdiction and assessment proceedings.
S.153C proceedings invalid without specific, dated satisfaction that seized material bears on assessee's total income.
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