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2015 (8) TMI 1286 - HC - Income TaxAssessment u/s 153C - Whether the hard disc found in the premises of the searched entity i.e. GLOBAL HERITAGE VENTURE PVT. LTD belonged to the Assessee for the purposes of Section 153 C of the Act as it stood prior to its amendment with effect from 1st June 2015? - Held that:- Assessing Officer failed to record his satisfaction in that regard in terms of the law as explained by the Court in Pepsico India Holdings (P) Ltd. v. ACIT [2014 (8) TMI 898 - DELHI HIGH COURT] The finding of photocopies in the possession of a searched person does not necessarily mean and imply that they “belong” to the person who holds the originals - Possession of documents and possession of photocopies of documents are two separate things. The AO should not confuse the expression “belongs to” with the expressions “relates to” or “refers to” - Decided in favour of assessee.
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