Case Law Details
Estate of Late Smt. Jayanthi Krishnamurthy Vs ACIT (ITAT Chennai)
The Estate of Late Smt. Jayanthi Krishnamurthy Vs ACIT case by ITAT Chennai brings to light several important legal facets pertaining to the Indian Income Tax Act. Specifically, the ruling touches upon the intricacies of Section 153A, and when additions to income can be made following a search operation. This article aims to provide a comprehensive analysis of the case, its implications, and its alignment with prior legal precedents.
The Core Issue
The primary issue centers around whether additional income can be assessed under Section 153A, particularly if no incriminating material was found during a search operation and if the assessment has been concluded or is ‘unabated’. The assessee argued that the assessment for AY 2005-06 was unabated as of the date of search, which was 16.05.2007. Importantly, the deadline for the issuance of notice under Section 143(2) had expired much earlier on 31.07.2006.
Previous Legal Precedents
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