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2016 (10) TMI 626 - DELHI HIGH COURT

2016 (10) TMI 626 - DELHI HIGH COURT - TMI - Validity of assessment u/s 153C - Held that:- Two documents stated to have been recovered during the search which did not belong to the Assessee and, therefore, could not form the basis for initiating proceedings against the Assessee under Section 153 C of the Act. - Even in the satisfaction note recorded by the AO, the said documents were stated to “pertain” to the Assessee and not belong to it. It is further pointed out by Mr. Arvind Kumar, and .....

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dhar And Vibhu Bakhru, JJ. For the Appellant : Mr Rahul Chaudhary, Senior Standing counsel with Mr Raghvendra Singh, Junior Standing counsel and Mr Anup Kumar Kesari, Advocate For the Respondent : Mr Arvind Kumar, Advocate ORDER CM No. 21925/2016 1. Since the amendment application is filed at an initial stage of the appeal i.e. before notice is issued, the application is allowed. The amended memo of appeal is taken on record. ITA 323/2016 2. The Revenue has filed this appeal against the order da .....

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a notice dated 12th April, 2012 under Section 153C of the Act was issued to the Assessee, which is a partnership firm. In the ensuing assessment proceedings, the AO made an addition of ₹ 1,12,60,413/- on account of bogus purchases of raw materials and of ₹ 1,71,85,440/- on account of notional interest on the interest free loan. 5. Before the Commissioner of Income Tax (Appeal) [ CIT(A) ], the question of validity of the assessment was also challenged by the Assessee apart from the me .....

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