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The document outlines a series of legal proceedings involving the Alankit Group, including a search and seizure under the IT Act in 2019, the filing of returns, and subsequent notices issued to the respondent. The High Court quashed a notice citing lack of incriminating evidence for the assessment year 2020-21, leading to an appeal filed by the assessing officer. Grounds for the appeal include the ability to assess prior years without incriminating material and claims of incorrect legal interpretation by the High Court.

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29 views3 pages

Date

The document outlines a series of legal proceedings involving the Alankit Group, including a search and seizure under the IT Act in 2019, the filing of returns, and subsequent notices issued to the respondent. The High Court quashed a notice citing lack of incriminating evidence for the assessment year 2020-21, leading to an appeal filed by the assessing officer. Grounds for the appeal include the ability to assess prior years without incriminating material and claims of incorrect legal interpretation by the High Court.

Uploaded by

Aman
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Date Details

18.10.2019 Search and seizure


Conducted under
Section 132 of IT AcT,
1961 on Alankit Group.
Documents in name of
the respondent were
found which showed
bogus short-term loss
to take on long-term
gain. Case centralized
to Central Circle-28.

09.01.2021 @pg. 601 The respondents


Return filed under
Section 139(1) for AY
2020–21. Declared
returned income of
₹3,98,500/-

15.11.2022 (annex Notice No.


p1) pg 598 - 599 ITBA/AST/S/153C/2022-
23/1047329487(1)
issued. Return required
within 30 days.

14.09.2023 Further a detailed


questionnaire u/s
142(1) of the act was
issued and served upon
the assessee through
ITBA. That the assessee
on 14.09.2023 vide
issue letter was
supplied with the copy
of satisfaction note
dated 22.06.2022
which was recorded by
the assessing Issued via
ITBA.
27.09.2023 Additional queries
raised; final satisfaction
note dated 04.11.2022
received on
17.11.2023.

28.11.2023 Filed in response to


15.11.2022 notice.
Declared income
₹3,98,500/-

16.03.2024 (annex A true typed copy of


p2) pg 600-605 the assemet order. No
addition made. AO
cited material seized
from Alankit group.

NIL (annex p3) Respondent filed WP(C)


No. 559/2024 in Delhi
HC challenging notice
u/s 153C.

06.05.2024 HC quashed notice.


Held no incriminating
Pg 1-13 material for AY 2020–
21. Cited Saksham
Commodities case.

17.04.2025 SLP (Diary No.


20464/2025) filed with
256 days delay.

21.05.2025 IA No. 133890/2025


filed to condone delay
Pg - 647-656 in filing SLP.

Grounds

Pg. 220 - 1. AO can assess six


prior years under
Sections 153A/153C,
even without
incriminating material.

2. High Court wrongly


restricted assessments
based on absence of
incriminating evidence.

3. Law doesn’t require


detailed reasoning in
the satisfaction note for
each year.

4. High Court's order


dated 06.05.2024 is
based on incorrect legal
interpretation.

5. Denial of stay will


cause irreparable harm;
strong case for
appeal exists.

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