Section 153A of ITA, 1961 : Section 153A: Assessment In Case Of Search Or Requisition

Explanation using Example

Imagine a scenario where the Income Tax Department suspects that Mr. Sharma, a businessman, has undisclosed income. On June 15, 2023, they conduct a search and seizure operation at his premises under Section 132 of the Income-tax Act, 1961. During the search, they find evidence suggesting that Mr. Sharma has not reported all of his income for the past several years.

Under Section 153A of the Income-tax Act, 1961, the Assessing Officer (AO) issues a notice to Mr. Sharma. This notice requires him to file income tax returns for the six assessment years immediately preceding the assessment year in which the search took place. Additio...

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