Section 153C Amendment not applicable to searches before June 1, 2015: SC

ITO Vs Vikram Sujitkumar Bhatia (Supreme Court of India) The Supreme Court of India recently delivered a significant judgment in the case of ITO Vs. Vikram Sujitkumar Bhatia, addressing the retrospective application of an amendment to Section 153C of the Income Tax Act, 1961. The ruling clarifies that the amended provisions, which expanded the scope of assessing third parties following a search and seizure operation, will not apply to searches conducted prior to the amendment’s effective date of June 1, 2015. The Revenue (Income Tax Department) had challenged a common judgment from the G...