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2017 (3) TMI 108 - HC - Income TaxSatisfaction Note u/s. 153C - assessment of third party - cash found during search - Held that:- In the present case too Jatinder Pal Singh was one of the Directors of the assessee. In the course of the search of his residential and other premises, he clearly stated that some cash seized in those premises belonged to the assesse. For the purposes of Section 153C, the satisfaction of the AO recorded was, in this Court’s opinion sufficient. Like in Super Malls [2016 (11) TMI 1370 - DELHI HIGH COURT] the AO considered the totality of the statement to conclude - undoubtedly facially, that the cash seized belonged to the third party, i.e., the assesse in the present case. Such statement also constitutes as material because it is made in the course of the search under Section 132 (4) and is also in consonance with the ruling of this Court in Dayawanti (2016 (11) TMI 211 - DELHI HIGH COURT ). - Decided in favour of revenue
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