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2012 (5) TMI 294 - AT - Income TaxSearch and Seizure - block assessment - authorization u/s 132A - Held that:- action under section 153C of the Act was initiated on the basis of information received by the Additional CIT, Range IV, Kanpur on 22.12.2004 which is not permissible under the law. The right course available with the Revenue if they intends to initiate action on the basis of information received from some person, they could initiate action under section 153A of the Act requiring the assessee to furnish the requisite information, but action under section 153C of the Act is not permissible under the law. Therefore, we are of the considered opinion that action initiated by the Assessing Officer under section 153C of the Act by issuing notice under section 153C read with section 153A of the Act is not sustainable in the eyes of law.
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