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2018 (3) TMI 1174 - AT - Income TaxAssessment u/s 153C - Held that:- AO of the searched person and the other person is the one and the same, then also the Assessing Officer has to record his satisfaction in the case of the other person i.e., other than the searched person. In view of the facts in entirety and the dictum of Hon'ble Supreme Court in the case of CIT Vs. Calcutta Knitwears – [2014 (4) TMI 33 - SUPREME COURT] which was further adopted by CBDT vide Circular No.24/2015 dated 31st December, 2015, respectfully following the same, we are of the view that in the present case, the assumption of jurisdiction by the Assessing Officer for issuance of notice u/s 153C of the Act and consequent assessment framed is bad in law. Consequently, we hold that the assessment order passed by the Assessing Officer was bad in law - Decided in favour of assessee.
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