Tribunal held that the impounded documents had been received by the AO when satisfaction under S. 153C had been recorded. The first proviso to S.153C provides that six assessment years in respect of which assessment or reassessments could be made under S.153C would also have to be considered with reference to the date of handing over of the assets or documents to the AO of the assessee. Therefore, the six assessment years under s. 153C in the case of the assessee would be the assessment years 2008-09 to 2013-14. The AO had to pass the assessment order under S.153C. Further, he had not issued any notice under S.153C. In the satisfaction note he had initiated the proceedings under S.153C only for the AY. 2006-07 to 2011-12 and not for the AY. 2008-09 to 2013-14. Thus the assessment order was illegal and bad in law and could not be sustained in law. Accordingly the additions are deleted. (AY. 2012-13)
Bina Fashions N Foods (P.) Ltd. v. Dy. CIT (2020) 77 ITR 68 (SN) (Delhi)(Trib.)
S. 153C : Assessment-Income of any other person-Search-Six Assessment years to be considered with reference to date of handing over of assets or documents to AO of Assessee-AO initiating proceedings only for AY. 2006-07 to 2011-12,instead of AYs 2008-09 to 2013-14-Assessment order is not valid.