Section 153C Six-Year Period Runs From Receipt of Seized Material: SC

CIT Vs Jasjit Singh (Supreme Court of India) The Supreme Court considered a batch of appeals concerning the interpretation of Sections 153A and 153C of the Income-tax Act, 1961 in cases where documents belonging to a person other than the searched person were found during a search under Section 132. The Revenue challenged Delhi High Court orders that had upheld the ITAT’s view that, for such third-party assessees, the six assessment years for which returns are required under Section 153C are to be reckoned from the date on which the books of account, documents or assets are received by t...