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May 2024

Search and seizure — Assessment of undisclosed income of person searched and third person — Difference between sections 153A and 153C — Conditions more stringent u/s 153C:

By K B Bhujle | Ritu Punjabi, Advocates
Reading Time 6 mins

15 Agni Vishnu Ventures Pvt. Ltd. vs. Dy. CIT

[2024] 460 ITR 438 (Mad)

A.Ys.: 2009–10, 2011–12, 2012–13, 2013–14 to 2019–20

Date of order: 28th January, 2023

Ss. 153A and 153C of ITA 1961

Search and seizure — Assessment of undisclosed income of person searched and third person — Difference between sections 153A and 153C — Conditions more stringent u/s 153C:

Orders u/s. 153C of the Income-tax Act, 1961 were challenged by filing writ petitions. The Madras High Court held as under:

“i) The ingredients of section 153A of the Income-tax Act, 1961, are: (i) initiation of search or requisition under the applicable statutory provisions, (ii) such search or requisition being after May 31, 2003 but before May 31, 2021, (iii) a mandate upon the Assessing Officer who ‘shall’ issue notic

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