Section 153A of Income Tax Act, 1961—We find that the assessee company filed its return of income for Assessment Year on 23.12.2005 and for Assessment Year 2006-607 on 16.03.2008. Return for Assessment Year 2005-06 was processed u/s 143(1) vide intimation dated 27.03.2006 and for Assessment Year 2006-07 on 12.03.2009. As per the provisions of section 143(2) of the Act, notices could have been issued by 31.12.2006 for Assessment Year 2005-06 and by 31.03.2009 for Assessment Year 2006-07. Since the date of search and seizure operation is 20.11.2009, it can be safely concluded that since no notice was issued and served upon the assessee u/s 143(2) of the Act, assessment is complete.

Held that—. Respectfully following the ratio laid down by the Hon'ble High Court of Delhi and Hon'ble Supreme Court [supra], we are of the considered view that the assessment framed u/s 153A of the Act for both the Assessment Years under appeal deserves to be set aside.[M/S HBN INSURANCE AGENCIES VERSUS THE A.C.I.T CENTRAL CIRCLE - 4 NEW DELHI][2019] 20 ITCD Online (24) [ITAT DELHI]