On the basis of \u00a0search conducted in case of searched person, a satisfaction note was recorded by Assessing Officer which indicated that a pen-drive was found containing information regarding transactions entered into by assessee with companies that had provided accommodation entries through generation of bogus invoices. The Assessing Officer issued notice under section 153C for the Assessment Year 2021-22. On writ the Court held that\u00a0\u00a0 information allegedly found was regarding a purported transaction pertaining to financial year 2014-15, therefore\u00a0 pen drive found could not be considered as containing any incriminating material pertaining to assessee in respect of relevant assessment year. Accordingly\u00a0\u00a0 assessment for the AY. 2021-22\u00a0 could not be reopened under section 153C of the Act. Notice was quashed and set aside. (AY. 2021-22)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 153C : Assessment-Income of any other person-Search-Cash credits-Accommodation entries-Pen drive-Transaction pertaining to financial year 2014-15-Satisfaction note for the Assessment year 2021-22-Pendrive cannot be considered as incriminating documents for the AY. 2021-22-Notice was quashed.[S.68, 132, 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-59328","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fqU","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59328","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=59328"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59328\/revisions"}],"predecessor-version":[{"id":59329,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/59328\/revisions\/59329"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=59328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=59328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=59328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}