PCIT- Central-1 Vs Amol Awasthi (Delhi High Court)
Delhi High Court held that since AY 2012-13 falls beyond the block of ten years that are required to be reckoned from the end of the AY 2022-23 assuming jurisdiction u/s. 153C in respect of AY 2012-13 is invalid. Accordingly, appeal of revenue dismissed.
Facts- On 30.06.2019, a search was conducted in the case of one Sh. Sanjay Jain. The Assessee was also considered one of the searched persons and accordingly, a notice u/s. 153A of the Act was issued. While the proceedings pursuant to the notice issued under Section 153A were pending, AO exercising jurisdiction in case of the Assessee received information that a search had been conducted on 30.06.2019 u/s. 132 of the Act in the case relating to one Sh. Rajiv Saxena. The AO exercising jurisdiction in the case of the searched person (Sh. Rajiv Saxena), recorded a satisfaction note stating that the documents or material unearthed during the said search belonged to the Assessee or contained information pertaining to the Assessee.
In view of the above, the AO dropped the proceedings initiated against the Assessee u/s. 153A of the Act under the process of initiating fresh proceedings u/s. 153C of the Act. However, in the meanwhile, searches were also conducted on 18.10.2019 in cases relating to Alankit Group. The AO exercising jurisdiction in respect of such searched person also recorded his satisfaction that the materials found during the search belonged to or contained information pertaining to the Assessee.
