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2015 (1) TMI 1108 - AT - Income TaxUnexplained investment - validity of proceedings u/s.153C - CIT(A) deleted addition considering the additional evidence and that proceedings u/s.153C are invalid and consequently, the assessment made in pursuance of the same was also invalid - Held that:- Primary requirement of invoking the provisions of section 153C of the I.T.Act was absent in this case. The requirement of recording the satisfaction that the impugned documents belonged to a person other than the person searched was not met in form and in substance. Consequently, the proceeding initiated by the AO u/s 153C in this case was void ab initio and the assessment made by him in pursuance of the same was also invalid. The appropriate course of action in the given facts and circumstances of the case was for him to treat the copy of the impugned documents as a source of information and initiate proceedings u/s 147 of the I.T.Act on the basis of the same. Since assessment under appeal is annulled. - Decided in favour of assessee.
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