9911796707
TMI Blog2025 (4) TMI 613X X X X Extracts X X X X X X X X Extracts X X X X ..... ner would submit that in this case, previously, the search was conducted by the respondent on 09.11.2017, subsequent to which, the petitioner approached the Interim Board for Settlement (IBS) and arrived at settlement. Thereafter, another search was conducted on 10.11.2020. The materials were collected from the petitioner and the satisfaction notes were issued by the Authorities on 30.06.2022. Under these circumstances, once again the petitioner had approached the IBS vide application dated 28.12.2023. In spite of the same, the impugned notice dated 30.12.2024 under Section 153C and another notice dated 28.02.2025 under Section 142(1) came to be issued by the respondent, for which, the petitioner filed their reply/objection dated 03.03.2025 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the case of Omaxe Ltd., vs. Assistant Commissioner of Income Tax reported in [2012] 25 taxmann.com 190. Therefore, she requests this Court to pass appropriate orders. 6. In reply, the learned Senior Standing counsel appearing for the respondent would submit that when the settlement was arrived before the IBS, the respondent was granted liberty to raise a similar issue in future, if any material is found against the petitioner. 7. Further, he would submit that in this case, the search was conducted on 10.11.2020 and the documents/materials were handed over by the petitioner, who is the other person, only on 30.06.2022. By referring the proviso to Section 153C(1), he would contend that the limitation starts only from the date on which the m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll be handed over to the Assessing Officer having jurisdiction over such other person] 1 [and that Assessing Officer shall proceed against each such other person and issue notice and assess or reassess the income of the other person in accordance with the provisions of section 153A, if, that Assessing Officer is satisfied that the books of account or documents or assets seized or requisitioned have a bearing on the determination of the total income of such other person [for six assessment years immediately preceding the assessment year relevant to the previous year in which search is conducted or requisition is made and] for the relevant assessment year or years referred to in sub-section (1) of section 153A. Provided that in case of such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20. Thereafter, the documents or assets were seized or requisitioned by the Assessing Officer on 30.06.2022 and the show cause notice dated 30.12.2024 was issued. 11. The claim of the petitioner is that the date of issuance of show cause notice should be considered as the date of initiation of proceedings as far as the other person is concerned and hence, the limitation period of 6 year has to be calculated from the said date, in which case, the present proceedings are barred by limitation. In this case, on 10.11.2020, the search was not conducted in the petitioner's premises. The petitioner is the other person, from whom the documents or assets were seized or requisitioned on 30.06.2022 and thus, the said date, i.e., 30.06.2022, only ..... X X X X Extracts X X X X X X X X Extracts X X X X
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