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TMI Blog2017 (12) TMI 1744X X X X Extracts X X X X X X X X Extracts X X X X ..... 9,41,584/ was made on account of Short Term Capital Gain relating to the sale consideration over and above the sale consideration of Rs. 4 lacs, as shown by the assessee in his return of income of the house located at Oswal Street, Ludhiana and further addition of Rs. 3,56,900/- was made on account of excess jewellery found during search action. 3. The brief facts of the case are that a search and seizure operation under the provisions of section 132 of the Income-tax Act, 1961 (in short 'the Act') was conducted on the premises of the assessee on 12.10.2006. Pursuant to the aforesaid search and seizure action, notice u/s 153A of the Act was issued to the assessee for the six assessment years immediately preceding the relevant a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the search in this case was conducted on 12.10.2006 and, therefore, the assessment u/s 153A of the Act could have been made only for 06 assessment year immediately preceding the assessment year relevant to searched year i.e. for the assessment years 2001-02 to 2006-07 only and not for the assessment year under consideration i.e. assessment year 2007-08. He, therefore, has contended that the assessment framed u/s 153A for assessment year 2007-08 was not valid and was void abinitio. He in this respect has relied upon the decision of the Coordinate Chandigarh Bench of the Tribunal in the case of 'Rajiv Kumar Vs. ACIT' (2017) 152 DTR (Chd) (Trib.) 233 and of the Hon'ble Allahabad High Court, Lucknow Bench in the case of 'CIT (Central) Vs. S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n such substantive provision, then this defence is not open that it may be treated as a mere mistake of wrong provision of the statute. Notice was specifically served under Section 153A. Assessment order clearly says that it is being passed under Section 153A. Moreover, jurisdiction for making assessment under Section 153A read with Section 153C apparently is quite different than requirement of notice under Section 143(2) of Act, 1961 and assessment made under Section 143(3). 17. We find that this aspect has also been discussed by Tribunal and it has observed as under:- "16................The provisions of section 153A read with section 153C empower the AO to proceed with the assessment in search cases mentioned therein me ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evant to the previous year in which search is conducted under section 132 or requisition is made under section 132A of the Act, but there being no provision as to under which provision of law, the assessee can be called upon to furnish its return for that assessment year only under the provisions of section 139 and it is only in case of failure of the assessee to furnish the return under section 139 that the AO can call for return of income for the previous year either under section 142(1) or under section 147 of the Act, as the case may be, and if it is so, then the assessment for assessment year relevant to that previous year can be made only under section 143(1) or 143(3) or 144 or 147 of the Act but cannot be made under section 153A of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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