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2015 (3) TMI 607 - AT - Income TaxValidity of the initiation of proceedings u/s 153C - whether in absence of any incriminating seized document in the case of respondents, assessment framed u/s. 153C of the I.T Act for the year under consideration, is time barred, bad in law and deserve to be quashed? - Held that:- Since the facts of the present case are identical to the facts involved in the case of M/s Tanvir Collections Pvt. Ltd. Vs ACIT wherin [2015 (3) TMI 345 - ITAT DELHI] wherein held that the AO did not record any satisfaction that some money, bullion, jewellery or books of accounts or other documents found from these persons belonged to the assessee. The absence of such satisfaction, in our considered opinion, failed to confer any valid and lawful jurisdiction on the AO of the assessee to proceed with the matter of the assessment u/s 153C of the Act. - Decided in favour of assessee.
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