Tag Archive: Statement of third party

Q. What will happen when the revenue seized a documents, which is computer generated loose sheet and found during the search of third party who is neither assessee nor any authorized person of the assessee. The HIGH COURT OF DELHI in the case of PCIT vs. STC DEVELOPER PVT. LTD. Decided on Dec 15, 2021 on similar issue. Section 153C. Search & Seizure.

Q.Section 153C. What will happen when the revenue seized a documents, which is computer generated loose sheet and found during the search of third party who is neither assessee nor any authorized person of the assessee. The HIGH COURT OF…
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153C, Delhi High Court, Delhi Tribunal, In Favour of Assessee, ITAT Delhi

December 22, 2021

Section 153A, 153C, 132(4). If no incriminating material is found during search, no addition could be made in respect of the assessments that had become final. Statements recorded under Section 132(4) of the Act do not by themselves constitute incriminating material. PCIT Vs. ANAND KUMAR JAIN (HUF) & ORS. HIGH COURT OF DELHI on Feb 12, 2021. If any statement was to be construed as an incriminating material belonging to or pertaining to a person other than person searched (as referred to in Section 153A), then the only legal recourse available to the department was to proceed in terms of Section 153C of the Act by handing over the same to the AO who has jurisdiction over such person.

Section 153A, 153C, 132(4). If no incriminating material is found during search, no addition could be made in respect of the assessments that had become final. Statements recorded under Section 132(4) of the Act do not by themselves constitute incriminating…
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132, 132(4), 153A, 153C, AY 2010-11, Delhi High Court, In Favour of Assessee, incriminating material, Statement, Statement under section 132(4)