Section 153A in The Income Tax Act, 1961

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153A. Assessment in case of search or requisition.

(1)Notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A after the 31st day of May, 2003 [but on or before the 31st day of March, 2021], the Assessing Officer shall—

(a)issue notice to such person requiring him to furnish within such period, as may be specified in the notice, the return of income in respect of each assessment year falling within six assessment years and for the relevant assessment year or years referred to in clause (b), in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed and the provisions of this Act shall, so far as may be, apply accordingly as if such return were a return required to be furnished under section 139;

(b)assess or reassess the total income of six assessment years immediately preceding the assessment year relevant to the previous year in which such search is conducted or requisition is made and for the relevant assessment year or years :

Provided that the Assessing Officer shall assess or reassess the total income in respect of each assessment year falling within such six assessment years and for the relevant assessment year or years :Provided further that assessment or reassessment, if any, relating to any assessment year falling within the period of six assessment years and for the relevant assessment year or years referred to in this sub-section pending on the date of initiation of the search under section 132 or making of requisition under section 132A, as the case may be, shall abate :Provided also that the Central Government may by rules made by it and published in the Official Gazette (except in cases where any assessment or reassessment has abated under the second proviso), specify the class or classes of cases in which the Assessing Officer shall not be required to issue notice for assessing or reassessing the total income 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:Provided also that no notice for assessment or reassessment shall be issued by the Assessing Officer for the relevant assessment year or years unless—

(a)the Assessing Officer has in his possession books of account or other documents or evidence which reveal that the income, represented in the form of asset, which has escaped assessment amounts to or is likely to amount to fifty lakh rupees or more in the relevant assessment year or in aggregate in the relevant assessment years;

(b)the income referred to in clause (a) or part thereof has escaped assessment for such year or years; and

(c)the search under section 132 is initiated or requisition under section 132A is made on or after the 1st day of April, 2017.

Explanation 1.—For the purposes of this sub-section, the expression "relevant assessment year" shall mean an assessment year preceding the assessment year relevant to the previous year in which search is conducted or requisition is made which falls beyond six assessment years but not later than ten assessment years from the end of the assessment year relevant to the previous year in which search is conducted or requisition is made.Explanation 2.—For the purposes of the fourth proviso, "asset" shall include immovable property being land or building or both, shares and securities, loans and advances, deposits in bank account.

(2)If any proceeding initiated or any order of assessment or reassessment made under sub-section (1) has been annulled in appeal or any other legal proceeding, then, notwithstanding anything contained in sub-section (1) or section 153, the assessment or reassessment relating to any assessment year which has abated under the second proviso to sub-section (1), shall stand revived with effect from the date of receipt of the order of such annulment by the Principal Commissioner or Commissioner:Provided that such revival shall cease to have effect, if such order of annulment is set aside.Explanation.—For the removal of doubts, it is hereby declared that,—

(i)save as otherwise provided in this section, section 153B and section 153C, all other provisions of this Act shall apply to the assessment made under this section;

(ii)in an assessment or reassessment made in respect of an assessment year under this section, the tax shall be chargeable at the rate or rates as applicable to such assessment year.

Section 153A in The Income Tax Act, 1961

153A. Assessment in case of search or requisition.

(b)the income referred to in clause (a) or part thereof has escaped assessment for such year or years; and

(c)the search under section 132 is initiated or requisition under section 132A is made on or after the 1st day of April, 2017.

(i)save as otherwise provided in this section, section 153B and section 153C, all other provisions of this Act shall apply to the assessment made under this section;

(ii)in an assessment or reassessment made in respect of an assessment year under this section, the tax shall be chargeable at the rate or rates as applicable to such assessment year.

AI Summary

Okay, here's a structured summary based on the provided information about Section 153A of the Income Tax Act, 1961. Note that the provided information is extremely limited, and this summary will be based on general knowledge of Section 153A and common legal principles. A real case summary would require specific details of a court's judgment.

Short Summary

This case likely involves a dispute related to assessment or reassessment of income under Section 153A of the Income Tax Act, 1961, following a search or requisition. Section 153A allows the Assessing Officer to assess or reassess income for six assessment years preceding the assessment year in which the search was conducted. The final holding would depend on the specific facts and legal arguments presented regarding the validity and scope of the assessment/reassessment.

Facts

The facts are not provided. However, generally, cases under Section 153A arise when:

A search or requisition is conducted under Section 132 or 132A of the Income Tax Act.
Based on the seized documents or information, the Assessing Officer initiates assessment or reassessment proceedings under Section 153A for the six assessment years preceding the year of the search.
A dispute arises regarding the validity of the search, the scope of assessment/reassessment, or the computation of income.

Issues

Likely issues could include:

Whether the search or requisition was validly conducted.
Whether the assessment/reassessment under Section 153A was justified based on the seized material.
The scope of assessment/reassessment under Section 153A (i.e., whether it is limited to incriminating material found during the search or extends to all income).
Whether the Assessing Officer followed the correct procedure in conducting the assessment/reassessment.
Whether the reassessment is barred by limitation.

Petitioner's Arguments

The Petitioner (likely the assessee/taxpayer) might argue:

The search was illegal or invalid.
No incriminating material was found during the search to justify the assessment/reassessment.
The assessment/reassessment was beyond the scope of Section 153A and included income unrelated to the search.
The Assessing Officer did not provide sufficient opportunity to be heard.
The reassessment was barred by limitation.

Respondent's Arguments

The Respondent (likely the Income Tax Department) might argue:

The search was validly conducted based on credible information.
Incriminating material was found during the search, justifying the assessment/reassessment.
The assessment/reassessment was within the scope of Section 153A.
Sufficient opportunity was given to the assessee to be heard.
The reassessment was within the prescribed time limit.

Court's Reasoning

The court's reasoning would depend on the specific facts and arguments. Generally, the court would consider:

The validity of the search and seizure operations.
The interpretation of Section 153A and its scope.
The principles of natural justice (fair hearing).
The relevant case law on Section 153A.
Whether there was a direct nexus between the seized material and the income assessed/reassessed.

Conclusion

The final ruling would depend on the court's analysis. The court might:

Uphold the assessment/reassessment if it finds it to be valid and in accordance with the law.
Quash the assessment/reassessment if it finds it to be illegal or beyond the scope of Section 153A.
Direct the Assessing Officer to conduct a fresh assessment/reassessment after providing a proper opportunity to the assessee.