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2011 (7) TMI 593 - AT - Income TaxBlock Assessment - Notice u/s 153C - recording of satisfaction while assuming jurisdiction u/s 153C of the Act. - unexplained investment - unexplained expenditure - held that:- The legal requirement of recording of such satisfaction cannot be substituted by appraisal note which is prepared by the search party after completion of search insofar as such appraisal note is a secret document prepared by the department for their internal use, contents of which are not conveyed to the assessee nor its copy is supplied to the assessee even on making a written request. - we are not inclined to agree with the proposition that the appraisal note prepared by the department should be treated as a satisfaction note as required to be recorded in terms of section 153C of the Act so as to empower the Assessing Officer to assume jurisdiction to issue notice and thereafter frame assessment u/s 153A read with section 143(3) of the Act. - In view of the decision of Hon'ble Delhi High Court in the case of CIT v. Radhey Shyam Bansal (2011 - TMI - 207857 - DELHI HIGH COURT) decided in favor of assessee.
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