Dev Technofab Ltd v. Dy.CIT ( [2024] 166 taxmann.com 514 (Delhi)( HC) Editorial : SLP of Revenue is dismissed , Dev Technofab Ltd. v. DCIT, [2024]301 Taxman 72 (SC)

S. 153C : Assessment – Income of any other person – Search and seizure – Satisfaction note pertained to non-searched entity and material which was alluded to pertained to assessment year 2019-20 only- Notice pertaining to AYs 2014-15, 2015-16, 2016-17, 2017-18, 2018-19 and 2020-21 is quashed and set aside. [S. 132 , Art. 226 ]

The assessee filed writ petition for  the quashing of notices issued under section 153C for the assessment years 2014-15 to 2020-21,on the ground that the proceedings were illegal and without jurisdiction. It contended that the satisfaction note revealed that the incriminating material pertained only to the assessment year 2019-20, yet the action under section 153C encompassed assessment years 2014-15 to 2020-21. Allowing the petition the Court held that the satisfaction note pertained to non-searched entity, and material which was alluded to pertained to assessment year 2019-20 only.  Accordingly  the action under section 153C, pertaining to AYs 2014-15, 2015-16, 2016-17, 2017-18, 2018-19 and 2020-21 were  quashed and set aside .However, insofar as Assessment Year 2019-20 was concerned, same was left untouched and all rights and contentions of respective parties were kept open to be addressed in ongoing assessment proceedings for Assessment Year 2019-20. (AY. 2014-15, 2015-16, 2016-17, 2017-18, 2018-19 and 2020-21 )

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