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2023 (1) TMI 216 - AT - Income TaxValidity of assessment u/s 153C - no incriminating material for issuance of notice - HELD THAT:- Satisfaction which has been recorded is not based on incriminating assets/documents found as a result of search and that there does not exist any incriminating document which “belongs to” or “pertains to” or “relates to” the assessee. On identical facts in the case of one of the group concern of the assessee, on issuance of notice u/s. 153C arising out of the same search was held to be not legally sustainable and therefore assessment was annulled. Before us, Revenue has not pointed to any distinguishing feature in the facts of the present case and in the case of group concern nor has pointed to any fallacy in the findings of Ld. CIT(A). Further the decisions relied upon the Revenue are distinguishable on facts and are therefore not applicable to the facts of the present case. Considering the totality of the aforesaid facts we find no reason to interfere with the order of Ld. CIT(A) on this issue and thus the grounds of Revenue are dismissed.
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