Dismissing the appeal of the Revenue the Court held that\u00a0 the Tribunal was right in law in holding that the AY. relevant to the financial year in which satisfaction note was recorded under section\u00a0153C\u00a0of the Act, would be taken as the year of search for the purposes of clauses\u00a0(a)\u00a0and\u00a0(b)\u00a0of sub-section\u00a0(1)\u00a0of section\u00a0153A\u00a0of the Act by making reference to the first proviso to sub-section\u00a0(1)\u00a0of section\u00a0153C. Therefore, the Tribunal was right in law in holding that no satisfaction was recorded by the Assessing Officer of the searched person and the notice issued by the Assessing Officer under section\u00a0153C\u00a0of the Act would be taken as the year of search for the purpose of clauses\u00a0(a)\u00a0and\u00a0(b)\u00a0of sub-section\u00a0(1)\u00a0of section\u00a0153A. The Tribunal was right in law in setting aside the assessment order passed for the AY. 2011-12 under the facts and circumstances of the case holding that there was no satisfaction recorded by the Assessing Officer of the searched person in so far as section\u00a0153A\u00a0in the case of the assessee. Referred, CIT v. Gopi Apartment (2014) 365 ITR 411 (All)(HC) (AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 153C : Assessment-Income of any other person-Search-Satisfaction note-Limitation-Where no satisfaction is recorded year of search has to be considered. [S. 132, 153A] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-38938","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-a82","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=38938"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38938\/revisions"}],"predecessor-version":[{"id":45741,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38938\/revisions\/45741"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=38938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=38938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=38938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}