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TMI Blog2015 (6) TMI 477X X X X Extracts X X X X X X X X Extracts X X X X ..... ent year under consideration. - Decided in favour of revenue. X X X X Extracts X X X X X X X X Extracts X X X X ..... the fact that a search was conducted on certain group entities of Flex Industries. It has not been denied that the assessee was not the person searched. There is further no dispute on the fact that the documents claimed to be belonging to the assessee as per Annexures A-1, A-9 and A-10 were found during the course of search on Shri Manvinder Singh and M/s Flex Industries Ltd. These documents have been placed on record by the ld. DR. It can be seen from the Departmental paper book that these documents find place on pages 1-36. Pages 26-30 are the copies of assessee's Bank book which were found from the premises of the persons searched. When we peruse these documents, it can be easily noticed that the Bank books bear the name of the assessee and relate to financial years starting from 1.4.2004. Pages 31-35 is a print-out of the Trial balance of the assessee as on 31.3.2004 which was again found from the premises of the person searched. There is another document on page No.36 which is a certificate issued by the assessee confirming that it had given a sum of ` 10 lac to Mr. S.A. Hashmi vide cheque No.995233 dated 2.6.2004. A close scrutiny of these documents belonging to the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has to be done in accordance with the provisions of section 153A, let us examine the prescription of the relevant parts of section 153A(1), which is as under :- "Notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A after the 31st day of May, 2003, the Assessing Officer shall- (a) issue notice to such person requiring him to furnish within such period, as may be specified in the notice, the return of income in respect of each assessment year falling within six assessment years referred to in clause (b), in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed and the provisions of this Act shall, so far as may be, apply accordingly as if such return were a return required to be furnished under section 139; (b) assess or reassess the total income of six assessment years immediately preceding the assessment year relevant to the previous year in which such search is conducted or requisition i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sment years immediately preceding the assessment year relevant to the previous year in which such search is conducted or requisition is made. Further, the use of the word 'shall' in section 153A immediately before clause (a) has left nothing to doubt that the assessment is required to be made for all the six assessment years immediately preceding the assessment year relevant to the previous year in which such search is conducted or requisition is made. As the legislature has not made the making of such assessment or reassessment for all the six assessment years subject to any condition of finding of any incriminating material or otherwise, we are unable to accept such contention of the ld. AR which, if accepted, would lead to legislating, a proposition which is obviously not tenable. 8. We can reject the contention of the assessee from another angle as well. It is relevant to note that the expression 'books of account or documents' employed in section 153C(1) is accompanied by the words 'money, bullion, jewellery or other valuable articles or thing'. It is axiomatic that 'money or jewellery' etc. belonging to the other person found from the premises of the person searched cannot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under sub-section (2) of section 143 has expired, or (c) assessment or reassessment, if any, has been made, before the date of receiving the books of account or documents or assets seized or requisitioned by the Assessing Officer having jurisdiction over such other person, such Assessing Officer shall issue the notice and assess or reassess total income of such other person of such assessment year in the manner provided in section 153A." 11. On going through the plain language of sub-section (2) of section 153C, it becomes manifest that this deals with the assessment for the assessment year relevant to the previous year in which search is conducted under section 132 or requisition is made under section 132A. This subsection simply provides that where books of account or documents, etc., have been received by the AO having jurisdiction over such other person after the due date for furnishing the return of income for the assessment year relevant to the previous year in which search is conducted u/s 132, etc., then, the AO shall issue notice and assess or reassess total income of the other person 'of such assessment year in the manner provided in section 153A.' The expression ..... X X X X Extracts X X X X X X X X Extracts X X X X
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