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2014 (7) TMI 638 - AT - Income TaxValidity of proceedings u/s 153C of the Act – Assessment of income of any other person - Held that:- The provisions contained u/s. 153C of the Act can only be invoked where there was satisfaction by the AO having jurisdiction over the person searched or requisitioned u/s. 132A during the course of assessment proceedings - the proceedings u/s. 153A of the Act always precede the proceedings u/s. 153C of the Act and without recording satisfaction note by the AO initiating proceedings for completion of assessment u/s. 153A of the Act cannot be proceeded u/s. 153C of the Act in the case of such other person not searched - initiation of proceedings u/s. 153C of the Act in the case of the assessee for these two assessment years is not proper as there is no satisfaction recorded by the AO having jurisdiction over the person searched or requisitioned u/s. 132A of the Act during the course of assessment proceedings of searched party or later before issue of notice u/s. 153C of the Act – thus, the assessment framed u/s 153C of the Act is set aside – Decided in favour of Assessee.
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