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2018 (2) TMI 434 - AT - Income TaxAssessment u/s 153C - Unexplained purchase u/s. 69C - satisfaction note eligibility - Held that:- No reason to accept the contention of the assessee that the said satisfaction note was recorded in the case of assessee and not in the case of person searched as required by law. Besides, no specific ground has been has been raised in the cross objection on the satisfaction note in particular. Accordingly, this issue is decided against the assessee and we find no justification to disturb the findings reached by the ld. CIT(A) on this count. Assessment barred by limitation - Held that:- The assessments made by the Assessing Officer u/s. 153C of the Act for A.Yrs. 2003-04 and 2004-05 are beyond the scope of section 153C and the same being void ab initio deserve to be quashed. Accordingly, the cross objections of the assessee for A.Yrs. 2003-04 and 2004-05 deserve to be allowed on this legal issue only and since the assessments for these years are held as void, the appeals of the Revenue for these years deserve to fail. See CIT Versus RRJ Securities Ltd. And Vica-Versa [2015 (11) TMI 19 - DELHI HIGH COURT] Also remit the issue of additions on merits back to the file of the Assessing Officer to decide the same afresh in the light of directions/observations given by ITAT, Bench ‘B’ in the case of DCIT vs. M/s. Devi Dayal Petro Chemicals Pvt. Ltd [2014 (10) TMI 216 - ITAT DELHI] wherein held AO will first verify the years to which the seized documents belonged - There would be no justification for continuation of the proceedings under Section 153C to which the seized documents do not belong. If the transactions are duly accounted for in the books of account, as contended by the learned counsel, the AO will drop the proceedings initiated u/s 153C
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