Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (8) TMI 1125 - AT - Income TaxValidity of assessment u/s 153C - AO jurisdiction - reliance on statement recorded under Sec. 132(4) - Held that:- As find ourselves to be in agreement with the ld. A.R that the ‘Statement’ of Sh. Abhinandan Lodha (supra) recorded under Sec. 132(4) in the course of search and seizure proceedings conducted in the case of Lodha group (supra) cannot be construed as a ‘seized document’, therefore, the reliance placed by the A.O on the same to justify the validity of jurisdiction assumed under Sec. 153C in the hands of the assessee company, cannot be accepted. We are further of the considered view that even otherwise as the disclosure of additional income of ₹ 110.25 lacs made by Sh. Abhinandan Lodha (supra) in his statement recorded under Sec. 132(4), in the hands of the assessee company is relatable to A.Y. 2011-12, and does not pertain to any of the years in respect of which jurisdiction had been assumed by the A.O under 153C in the case of the assessee company, therefore, the same on the said count also shall in no way go to confer validity to the assumption of jurisdiction by the A.O under Sec. 153C. We thus of the considered view that the A.O had clearly traversed beyond the scope of his jurisdiction u/s. 153C and therein proceeded with and framed assessment u/s. 153A r.w.s. 153C/143(3) in the hands of the assessee company. We thus finding no infirmity in the order of the CIT(A), therefore, uphold the same and dismiss the appeal of the revenue.
|