VLS Finance Ltd. v. CIT (Del)

289 ITR 286High Court2007#1579 most cited

What is VLS Finance Ltd. v. CIT (Del) authority for?

Income tax authorities are not faulted for following a less drastic procedure during a search, such as passing a restraint order instead of seizing all books of accounts, and seizing only necessary documents. Such an action does not render the subsequent assessment time-barred.

72

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2022.

Also referred to as

VLS Finance Ltd. v. CIT · section 153A · section 153(1) · search and seizure assessment · limitation period assessment · restraint order instead of seizure · less drastic procedure search · panchnama validity · time barred assessment search

Issues it is cited on

time barred assessmentcasus omissussection 153a(1)(b)section 2(22)section 153(1)deemed dividendsection 2(22)(e)section 40a(2)kelvinatormere change of opinionpanchnamasection 194a

Judgments citing VLS Finance Ltd. v. CIT (Del)

DCIT, COIMBATORE vs. O.ARUMUGASAMY, COIMBATORE

ITA 777/CHNY/2017[2012-13]Status: DisposedITAT Chennai28 Sept 2022AY 2012-13

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

O.ARUMUGASAMY,CHENNAI vs. DCIT, COIMBATORE

ITA 763/CHNY/2017[2012-13]Status: DisposedITAT Chennai28 Sept 2022AY 2012-13

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT, COIMBATORE vs. SHRI A. SENTHILKUMAR, COIMBATORE

ITA 2707/CHNY/2016[2011-12]Status: DisposedITAT Chennai28 Sept 2022AY 2011-12

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

A. SENTHIL KUMAR,COIMBATORE vs. DCIT, COIMBATORE

ITA 2570/CHNY/2016[2011-12]Status: DisposedITAT Chennai28 Sept 2022AY 2011-12

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT, COIMBATORE vs. O.ARUMUGASAMY, COIMBATORE

ITA 1833/CHNY/2015[2011-12]Status: DisposedITAT Chennai28 Sept 2022AY 2011-12

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT, COIMBATORE vs. O.ARUMUGASAMY, COIMBATORE

ITA 1398/CHNY/2015[2008-09]Status: DisposedITAT Chennai28 Sept 2022AY 2008-09

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT, COIMBATORE vs. O.ARUMUGASAMY, COIMBATORE

ITA 1011/CHNY/2015[2010-11]Status: DisposedITAT Chennai28 Sept 2022AY 2010-11

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT, COIMBATORE vs. A.SENTHIL KUMAR, COIMBATORE

ITA 1010/CHNY/2015[2010-11]Status: DisposedITAT Chennai28 Sept 2022AY 2010-11

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT, COIMBATORE vs. SENTHIL ENTERPRISES, COIMBATORE

ITA 709/CHNY/2014[2010-11]Status: DisposedITAT Chennai28 Sept 2022AY 2010-11

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT, COIMBATORE vs. SHRI T.M.MUTHUKUMAR, COIMBATORE

ITA 150/CHNY/2013[2005-06]Status: DisposedITAT Chennai28 Sept 2022AY 2005-06

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT, COIMBATORE vs. SHRI O.ARUMUGASAMY, COIMBATORE

ITA 144/CHNY/2013[2009-10]Status: DisposedITAT Chennai28 Sept 2022AY 2009-10

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT, COIMBATORE vs. SHRI O.ARUMUGASAMY, COIMBATORE

ITA 143/CHNY/2013[2008-09]Status: DisposedITAT Chennai28 Sept 2022AY 2008-09

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT, COIMBATORE vs. SHRI M.PALANISAMY, COIMBATORE

ITA 142/CHNY/2013[2009-10]Status: DisposedITAT Chennai28 Sept 2022AY 2009-10

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT, COIMBATORE vs. SHRI M.PALANISAMY, COIMBATORE

ITA 141/CHNY/2013[2008-09]Status: DisposedITAT Chennai28 Sept 2022AY 2008-09

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT, COIMBATORE vs. SHRI A.SENTHILKUMAR, COIMBATORE

ITA 140/CHNY/2013[2009-10]Status: DisposedITAT Chennai28 Sept 2022AY 2009-10

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT, COIMBATORE vs. SHRI A.SENTHILKUMAR, COIMBATORE

ITA 139/CHNY/2013[2008-09]Status: DisposedITAT Chennai28 Sept 2022AY 2008-09

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT,, COIMBATORE vs. SHRI. O. ARUMUGASAMY,, COIMBATORE

ITA 860/CHNY/2012[2007-08]Status: DisposedITAT Chennai28 Sept 2022AY 2007-08

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT,, COIMBATORE vs. SHRI. O. ARUMUGASAMY,, COIMBATORE

ITA 859/CHNY/2012[2006-07]Status: DisposedITAT Chennai28 Sept 2022AY 2006-07

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT,, COIMBATORE vs. SHRI. O. ARUMUGASAMY,, COIMBATORE

ITA 858/CHNY/2012[2005-06]Status: DisposedITAT Chennai28 Sept 2022AY 2005-06

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

DCIT,, COIMBATORE vs. SHRI. O. ARUMUGASAMY,, COIMBATORE

ITA 857/CHNY/2012[2004-05]Status: DisposedITAT Chennai28 Sept 2022AY 2004-05

Bench: Shri Mahavir Singh & Shri Manoj Kumar Aggarwalassessment

Section 132Section 153A

…Hence, Assessing officer's action of completing assessment on 31.12.2008 is, in my view, in order. 7.3. In the following cases, it has been held that authorities could not be faulted for following a less drastic procedure. "a) VLS Finance Ltd. Vs. CIT (Del) 289 ITR 286 b) Krishna Verma Vs. ACIT (1TAT, SB-Del) 113 ITD 655 Search during 29.6.98 to 5.8.98Last panchanama drawn on 5.8.98 ie within 60 days of initiation of search- Limitation of two year period would come to an end on 30.8.2000 – No ulterior motives could be attributed to the authorities in failing to seize the books of accounts and instead passing a…

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