2020 (8) TMI 133 - SCH - Income Tax

Assessment u/s 153C - cogent materials between the documents seized and the assessee satisfaction - Tribunal interpreting the term 'belongs to' as 'ownership' in Section 153C - whether intention of the legislature is always that section 153C is applicable when documents seized in a searched premise belongs to or its content thereof pertains to some other person in view of amendment by Finance Act, 2015 - as per HC in the documents, which were seized during the course of search, there may be some reference of the assessee, but that itself would not be sufficient. It is necessary to show some nexus on the basis of some cogent materials between the documents seized and the assessee - HELD THAT - SLP is dismissed. However, question of law is kept open.

Summary

The Supreme Court of India dismissed the special leave petition but kept the question of law open. Delay was condoned and pending applications were disposed of.