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2016 (5) TMI 1127 - AT - Income TaxValidity of assessment under section 153C - addition made under section 69A on account of unexplained gift received by the assessee - Held that:- In the absence of the recording of satisfaction by the AO of the searched person before initiating proceedings against third person u/s 153C, the condition of section 153C has not been satisfied in the present case and there is no jurisdiction to sustain the proceeding under section 153C initiated by the authorities below against the assessee. The order passed under section 153C is therefore set aside and the proceedings under section 153 C are directed to be quashed. Therefore all the additions made in the assessment order also stands deleted. - Decided in favour of assessee
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