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2022 (10) TMI 1119 - HC - Income TaxAssessment u/s 153C - Necessity of recording satisfaction - HELD THAT:- Assessees' grievance is that the said proceedings are without jurisdiction because recording satisfaction which is a condition precedent before making over it to the jurisdictional Officer even though the AO and the Searching officer are one and the same, is mandatory. This position of law is not disputed by the Revenue. Admittedly, the assessees have filed rectification application before the ITAT with a prayer to call for records and to examine whether satisfaction as required under Section 153C was recorded. The said applications have been rejected. In Calcutta Knitwears, [2014 (4) TMI 33 - SUPREME COURT] it is held that satisfaction note is sine qua non and must be proved by the Assessing Officer before he transmits the records to the jurisdictional Assessing Officer. The Apex Court, in that case was considering Section 158BD of the Act, which is pari materia with Section 153C of the Act. In view of the law laid down in Calcutta Knitwears (supra) and the facts and circumstances of this case, we are of the considered opinion that the matter requires a re-look in the hands of the Tribunal
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