Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (2) TMI 160 - AT - Income TaxValidity of assessment framed u/s 153C - Held that:- The documents seized during the course of search and seizure proceedings from the Rajdarbar Group have been referred as “relating to” the assessee, in the satisfaction note recorded by the AO while initiating the proceedings u/s 153C of the Act against the assessee. Finding a reference in the satisfaction note recorded by the AO for initiation of proceedings u/s 153C of the Act against the assessee are certificate of incorporation, e-filing receipt, Form No.-18, Form No.-35 In view of the ratio laid down in the above discussed decisions of Hon’ble High Court in the cases of Pepsico India Holdings Pvt. Ltd. (2014 (8) TMI 898 - DELHI HIGH COURT) and Pepsi Foods Pvt. Ltd. (2014 (8) TMI 425 - DELHI HIGH COURT) the satisfaction of the AO that the said documents “belong to” the assessee is condition precedent to initiate proceedings u/s 153C of the Act. In absence of such finding by the AO, the notice issued u/s 153C in the present case is held invalid. Besides there was no incriminating material found during the course of search and the assessment was not pending or abated to justify the assessment framed u/s 153A r.w.s 153C as well as section 143(3) of the Act against the assessee. The assessment in the question framed in furtherance to the said invalid notice and in absence of incriminating material is thus held as void and the same is quashed as such. - Decided in favour of the assessee.
|