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TMI Blog2024 (9) TMI 1281X X X X Extracts X X X X X X X X Extracts X X X X ..... ified under Section 149 (1) (b), Section 153A or Section 153C as the case may be and on the anvil of those provisions as they existed prior to the commencement of Finance Act 2021. Viewed in that light, it is manifest that the assessment for AYs 2012-13 and 2013-14 could not have been reopened. The record would reflect that pursuant to a search and seizure operation conducted in respect of a third party on 09 February 2022, the petitioner was served with the notices under Section 148 on 30 March 2023. Undisputedly and for the purposes of reopening, bearing in mind the Proviso to Section 149 (1), action could have been initiated only up to AY 2014-15. As ex facie evident that AYs 2012-13 and 2013-14 falls beyond the ten-year block period as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relevant assessment year unless the Assessing Officer has in his possession books of account or other documents or evidence which reveal that the income chargeable to tax, represented in the form of (i) an asset; (ii) expenditure in respect of a transaction or in relation to an event or occasion; or (iii) an entry or entries in the books of account, which has escaped assessment amounts to or is likely to amount to fifty lakh rupees or more:] Provided that no notice under Section 148 shall be issued at any time in a case for the relevant assessment year beginning on or before 1st day of April, 2021, if [a notice under Section 148 or Section 153-A or Section 153-C could not have been issued at that time on account of being beyond the time li ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... take note of our decisions in Filatex India Ltd. vs. Deputy Commissioner of Income Tax Anr. 2023 SCC OnLine Del 5913 and Flowmore Limited vs. Deputy Commissioner of Income Tax 2024 SCC OnLine Del 6344, where while dealing with an identical question and upon taking note of the manner in which the relevant period under Section 153C is liable to be reckoned, and which we had otherwise dealt with in some detail in our decision rendered in Principal Commissioner of Income Tax-1 vs. Ojjus Medicare Pvt. Ltd. 2024 SCC OnLine Del 2439, we had observed as follows:- 3. As is evident from the prima facie observations which came to be rendered by us on that occasion, the reassessment which is sought to be initiated for Assessment Year [ AY ] 2012-13 wou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of the Supreme Court in Jasjit Singh. The aforesaid legal position also stood reiterated by the Supreme Court in Vikram Sujitkumar Bhatia. The submission of the respondents, therefore, that the block periods would have to be reckoned with reference to the date of search can neither be countenanced nor accepted. E. The reckoning of the six AYs' would require one to firstly identify the FY in which the search was undertaken and which would lead to the ascertainment of the AY relevant to the previous year of search. The block of six AYs' would consequently be those which immediately precede the AY relevant to the year of search. In the case of a search assessment undertaken in terms of Section 153C, the solitary distinction would be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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