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2019 (11) TMI 33 - AT - Income TaxValidity of initiation of proceedings u/s.153C - without having incriminating material and without recording the reasons for initiation of proceedings in the case of the searched person - HELD THAT:- In the instant case, there is no dispute that there is no satisfaction recorded by the AO of the searched person. No material was placed before us to show that the satisfaction was recorded by the AO of searched person before transfer of the material to the officer having jurisdiction over such other person in this case, the assessee. Hence we hold that the assumption of jurisdiction without recording the reasons in the case of searched person is invalid. Accordingly, we quash the notices issued u/s.153C of the Act and cancel the assessments framed u/s.143(3) r.w.s. 153C - Decided in favour of assessee Agricultural income in the hands of the HUF - assessee stated that the lands situated at Vattinagulapally village does not belong to HUF and belonged to individual and acquired by inheritance through gift deed from his mother - HELD THAT:- There is no case for considering the same as agricultural income in the hands of the HUF. Further it is seen from the orders of ITAT that the said lands were given to M/s.Dakshin Shelters Pvt. Ltd.[2012 (5) TMI 649 - ITAT HYDERABAD] for the purpose of development and the assessee came to know that the developer already started real estate project and incurred substantial expenditure for development of the same. The lands were stated to be mountainous lands. This fact finding was given by the ITAT in its order (supra). Except the land revenue authorities, no other evidence brought by the assessee for establishing the agricultural income. Therefore, we find no reason to interfere with the orders of the authorities below and accordingly, we, dismiss this appeal of assessee.
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