2016 (9) TMI 1657 - HC - Income Tax

Validity of assessment u/s 153A/ 153C - subsequent search and seizure operations - HELD THAT - As in these proceedings in view of the subsequent search and seizure operations, issuance of notice under Section 153A/153C for the assessment years in question stands abated. The revenue relies on the recent decision of V.L.S. Finance Limited 2016 (4) TMI 1133 - SUPREME COURT . This position is not disputed by the counsel for the petitioner. WP dismissed as infructuous.

Summary

The Delhi High Court dismissed the writ petitions as infructuous due to subsequent search and seizure operations, which led to the abatement of the notice under Section 153A/153C for the assessment years in question. The decision was based on the Supreme Court case V.L.S. Finance Limited vs. Commissioner of Income Tax [2016] 68 taxmann.com 368 (SC).