Block Period Of Six AYs For Purpose Of Sec 153C Has To Be Reckoned From Date Of Receipt Of Documents By AO: Delhi ITAT

In a recent decision, Delhi ITAT clarified that the block period under Sec. 153C starts from the date of receipt of seized documents by the AO. The tribunal emphasized that this date determines the limitation period for issuing assessment orders under the Income Tax Act. The case underscores the criticality of the AO's possession date in initiating proceedings under Sec. 153C, impacting assessment timelines significantly. This ruling provides clarity on procedural timelines and statutory compliance for tax assessments post-seizure.