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2016 (10) TMI 1378 - AT - Income TaxValidity of the assessment order passed u/s 153C - necessity of recording satisfaction - Whether satisfaction was recorded by the A.O. in the case of searched person that the incriminating material found during the course of search belongs to the assessee? - HELD THAT:- As decided in assessee husband case SHRI GALI JANARDHANA REDDY [2016 (11) TMI 530 - ITAT BANGALORE] no satisfaction was recorded by the AO in his capacity as AO of the searched person because it is seen that the so-called satisfaction note prepared by the AO is in his capacity as AO of assessee, although he happens to be the AO of the searched persons also, it could not be shown by the revenue that any satisfaction note was prepared by him as AO of searched persons and therefore, under these facts, this is to be accepted that no satisfaction was recorded by the AO of searched person. As case of M/s. Gopi Apartment [2014 (5) TMI 158 - ALLAHABAD HIGH COURT] and case of Calcutta Knitwears [2014 (4) TMI 33 - SUPREME COURT] and Manish Maheshwari [2007 (2) TMI 148 - SUPREME COURT] are applicable and therefore, respectfully following these judgments, we hold that in the present case, notice issued by the AO u/s. 153C of the I.T. Act deserves to be quashed - Decided in favour of assessee.
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