2023 (5) TMI 500 - SCH - Income Tax

Assessment u/s 153C - Scope of amendment brought to Section 153C introduced vide Finance Act, 2015 w.e.f. 01.06.2015 - Division Bench of the High Court 2019 (8) TMI 461 - GUJARAT HIGH COURT has quashed the notice under Section 153C - HELD THAT - Revenue preferred Appeal with other allied Appeals and by a common judgment 2023 (4) TMI 296 - SUPREME COURT this Court has allowed the appeals preferred by the Revenue and has quashed and set aside the judgment and order passed by the High Court, which has been relied upon while passing the impugned judgment and order. In that view of the matter, the present Appeal stands disposed of in terms of the judgment and order passed by this Court above.

Summary

Issues involved:
The issues involved in the judgment are the quashing of a notice under Section 153C of the Income Tax Act, 1961 by the High Court of Gujarat and the subsequent appeal by the Revenue against this decision.

Quashing of Notice under Section 153C:
The Supreme Court granted leave in an appeal where the Revenue challenged the High Court's decision to quash a notice issued under Section 153C of the Income Tax Act, 1961 to the respondent-assessee. The Court noted that in a related case, the Revenue had successfully appealed against a judgment relied upon by the High Court in the present case. Consequently, the Supreme Court allowed the appeal by the Revenue and set aside the impugned judgment and order of the High Court, thereby quashing and setting aside the notice under Section 153C. The appeal was disposed of in line with the decision in the related case, and the High Court's judgment was quashed and set aside with no costs imposed.