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2016 (2) TMI 1208 - AT - Income TaxAssessment u/s 153C - non recording of reasons - Held that:- Proceedings initiated under S.153C of the Act for the two years deserve to be quashed in as much as the concerned Assessing Officer has admittedly not recorded any satisfaction before forwarding the files to the Assessing Officer in whose charge, the assessee herein is assessed. The assessments made under S.153C of the Act are hereby quashed. In this view of the matter, the other grounds urged by the Revenue as well as the assessee have no legs stand, since the assessments for both the years are quashed. - decided in favour of assessee.
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