Search on 10-03-2015 at Venus Infrastructure and Developers Pvt Ltd\u00a0 group premises led to seizure of documents relating to the assessee. Satisfaction was recorded on 23-10-2019 by the jurisdictional AO. The assessee argued notices were time-barred. The Court held that with satisfaction recorded on 23-10-2019, the first AY was 2018-19 and the tenth AY 2009-10. Applying the extended 10-year limit under section 153C r.w.s. 153A (as amended by Finance Act, 2017) for escaped income exceeding Rs. 50 lakhs, the notices were within time. Petition dismissed. (S. 153C)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 153C : Assessment-Income of any other person-Recording of satisfaction on 23-10-2019-First AY 2018-19, tenth AY 2009-10-Notices for AYs 2009-10 to 2014-15 not time-barred.[S. 153A, Art. 226]<\/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-55998","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-ezc","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55998","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=55998"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55998\/revisions"}],"predecessor-version":[{"id":55999,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/55998\/revisions\/55999"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=55998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=55998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=55998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}