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2016 (6) TMI 1220 - AT - Income TaxAssessment u/s 153C - absence of satisfaction - Held that:- This is not the case of AO of the assessee in the reason recorded that documents found during search belonged to the assessee. ‘Documents belonging to a person’ and ‘transactions contained in some documents made by a person’ are two different things. Section 153C can be invoked only if the finding is there that documents etc. found during search belonged to the third person which is not the case made out by AO in the present case. Therefore, we hold that the jurisdiction assumed u/s 153C was lacking in the instant case and therefore the notice issued u/s 153C is held not in accordance with law and the assessment made is quashed. Since we have held that assumption of jurisdiction u/s 153C itself is bad, we do not propose to dispose the other grounds of appeal. In the result, appeal is allowed in favour of assessee.
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