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TMI Blog2022 (7) TMI 1522X X X X Extracts X X X X X X X X Extracts X X X X ..... search would have to be construed as the reference to the date of recording of satisfaction. It would follow that the six assessment years for which assessments/reassessments could be made u/s 153C of the Act would also have to be construed with reference to the date of handing over of assets/documents to the AO of the Assessee. In this case, it would be the date of the recording of satisfaction u/s153C of the Act, i.e., 8th September, 2010. In this view, the assessments made in respect of assessment year 2003-04 and 2004- 05 would be beyond the period of six assessment years as reckoned with reference to the date of recording of satisfaction by the AO of the searched person. It is contended by the Revenue that the relevant six assessment y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... date of search or not in the case of Raj Buildworth Pvt. Ltd. (Diary No. 21284/2019). The Supreme Court in the said case vide Order dated 14th October, 2019 dismissed the appeal filed by the Revenue on account of delay leaving all the questions of law open. 3. This Court is of the view that the proposed question of law, namely, whether in a case where Section 153C is applicable, date of receiving documents is to be taken as date of search or not has been answered by a Coordinate Division Bench of this Court in Commissioner of Income-tax- 7 Vs. RRJ Securities Ltd., [2016] 380 ITR 612. The relevant portion of the said judgment is reproduced hereinbelow: 24. As discussed hereinbefore, in terms of proviso to Section 153C of the Act, a reference ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... preceding the year in which the search takes place can be reopened but in case of any other person, who is not searched but his assets are seized from the searched person, the period for which the assessments could be reopened would be much beyond the period of six years. This is so because the date of handing over of assets/documents of a person, other than the searched person, to the AO would be subsequent to the date of the search. This, in our view, would be contrary to the scheme of Section 153C(1) of the Act, which construes the date of receipt of assets and documents by the AO of the Assessee (other than one searched) as the date of the search on the Assessee. The rationale appears to be that whereas in the case of a searched person ..... X X X X Extracts X X X X X X X X Extracts X X X X
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