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2014 (1) TMI 1242 - AT - Income TaxValidity of notice u/s 153C r.w.s. 153A - Held that:- the AO must be satisfied that documents, money bullion etc belonged to other person and on being recording satisfaction the case record/seized material is required to be forwarded to the AO of such other person - This is not the question of an incompetency in the jurisdiction but if a satisfaction is not recorded then this is an irregular exercise of assumption of jurisdiction - The learned CIT(A) had given ample opportunity to the Revenue Department to place the required “satisfaction” if available on record - The Revenue Department had failed to place on record any such “satisfaction note” - The learned CIT(A) was justified in quashing the asessment order. Undisclosed income - Held that:- No evidence was detected at the time of search through which it could have been demonstrated that the assessee had earned the impugned unaccounted income so assessed - The AO had taxed merely on presumption that the assessee might have earned some professional income being an architect pertaining to the project supervised by him - The provisions of Section 68 were not related to the seized material but based upon the books of account of the assessee, hence, out of the purview of the search assessment - Decided against Revenue.
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