Allowing the petition, the Court held that the satisfaction note dated June 22, 2022, of the Assessing Officer of the searched entities had recorded that the documents and information relating to the assessee had been handed over to the Assessing Officer having jurisdiction over the case of the assessee. Therefore, the period of limitation, as stipulated under section 153B, for passing the assessment order was to be reckoned from that date. In terms of section 153B, the Assessing Officer was required to have passed an assessment order within a period of twelve months from the end of the financial year in which the documents were received from the end of the financial year 2022-2023. Therefore, the last date for completion of the assessment had expired on March 31, 2024.\u00a0 No order of assessment had been passed as of the date of filing of the petition on March 26, 2025. The proceedings commenced pursuant to the notice under section 153C were set aside. (AY.2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 153C: Assessment-Income of any other person-Search-Satisfaction note-Time limit for passing assessment order to be reckoned from 22-6-2022-Last date for passing assessment order has expired on 31-3-2024-Proceedings barred by limitation-Notice quashed and set aside.[S. 132, 153B, 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_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":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-60508","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fJW","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60508","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=60508"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60508\/revisions"}],"predecessor-version":[{"id":60509,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60508\/revisions\/60509"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=60508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=60508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=60508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}