Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (10) TMI 1242 - ITAT HYDERABADAssessment u/s 153A - Absence of satisfaction as needed foregoing alleged section 153C - HELD THAT:- As in the 2nd proviso to sub-section (1) of section 153A that all assessments pending on the "date of initiation of search" shall abate. We hold in view of the foregoing statutory provisions that the AO's foregoing alleged section 153C satisfaction only incorporated the expression; whilst dealing with the alleged seized material, it only "relates to" than "belongs to" as on the date of search and therefore also, section 153C satisfaction are found not same is not sustainable qua the instant latter aspect as well. We wish to make it clear that we are dealing with a "search" wherein the corresponding statutory provisions have to be given stricter interpretation only in light only in light of Commissioner of Customs Vs. Dilip Kumar & Co. [2018 (7) TMI 1826 - SUPREME COURT] - We accordingly affirm the CIT(A)'s action under challenge holding the impugned 143(3) r.w.s. 153C assessment as lacking proper satisfaction. - Decided in favour of assessee.
|