High Court held that section 153C as amended with effect from 1-6-2015 would apply to search initiated on or after 1-6-2015 and thus, it is date of search that has been considered to be relevant date for purpose of applying amended provisions of section 153C(1). Supreme Court in case similar to assessee held that proviso to section 153C as inserted vide Finance Act, 2005 creates a deeming fiction wherein any reference made to date of initiation of search is deemed to be a reference made to date when Assessing Officer of non-searched person receives books of account or documents or assets seized etc.. Following the order in ITO v. Vikram Sujitkumar Bhatia (2023) 453 ITR 417 (SC), amendment brought to section 153C vide Finance Act, 2015 shall be applicable to searches conducted under section 132 before 1-6-2015, i.e., date of amendment. (AY. 2008-09 to 2014-15)
ACIT v. Anilkumar Gopikishan Agrawal (2023) 454 ITR 531 /294 Taxman 68 / 334 CTR 220 (SC) Editorial : Anilkumar Gopikishan Agrawal v. ACIT (2019) 418 ITR 25 (Guj)(HC), reversed.
S. 153C : Assessment-Income of any other person-Search-Belongs or belongs to-Pertains or pertaining-Search conducted prior to date of amendment-Prior to and after amendment by Finance Act, 2015, with effect from 1-6-2015-Amendment brought to section 153C vide Finance Act, 2015 shall be applicable to searches conducted under section 132 before 1-6-2015, i.e., date of amendment. [S. 132, Art. 136]