Court held that material collected pursuant to search jointly conducted against three persons and a firm was required to be dealt with under section 153A, and not under section 153C.If material collected in search against such person is used against other person, then proceeding can be taken under section 153C and not under section 153A. Matter was to be remanded back for consideration, if material collected in case of search upon individuals could be considered in hands of firm without following mandate of section 153C of the Act. (AY. 2014-15 to 2017-18)
SRS Mining v. UOI (2022) 328 CTR 510 / 217 DTR 321/141 taxmann.com 272 (Mad.)(HC)/: Notice is issued in SLP filed by the Revenue , ACIT v. SRS Mining (2023) 294 Taxman 604 (SC)
S. 153C : Assessment-Income of any other person-Search-Validity-Jointly conducted-Three persons and firm-Firm would not require to be dealt with under section 153C, but would be under section 153A; however, if material collected in search against such person is used against other person, then proceeding can be taken under section 153C and not under section 153A-Matter remanded. [S. 153A, Art. 226]