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Principal Commissioner of Income-Tax- 8 Versus M/s. Super Malls Pvt. Ltd.,

2016 (11) TMI 1370 - DELHI HIGH COURT

Assessment u/s 153(C) - whether ITAT findings that the satisfaction note was flawed and could not withstand scrutiny under Section 153(C)? - Held that:- A plain reading of the note clearly shows that search in the business premises of two individuals was carried out; equally, survey of premises of the assessee was also carried out. In the course of this search of Shri Ved Prakash Bharti who also was a director and assessee, some pen drives were found and seized. Further documents listed in Ann .....

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r any other term. Plainly put, the AO was satisfied that the documents belonged to the assessee in view of what was contained or brought out on a fair reading of their contents. It must not to be overlooked that while construing a document, expressions should not be interpreted too literally as if they are, words, carved in stone or in a Statute - as the ITAT did in this case. For these reasons, we are of the opinion that the ITAT should not have allowed the appeal only on this hyper technical g .....

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6 - MR. S. RAVINDRA BHAT & MR. NAJMI WAZIRI JJ. Respondent Through: Shri Dileep Shivpuri, Senior Standing Counsel, Shri Sanjay Kumar and Shri Vikrant A. Maheshwari, Advocates for Appellants. Mr. Arvind Kumar, Advocate for Respondent M/s Super Malls Pvt. Ltd. O R D E R CM Nos.26463, 26464 & 26466/2016 (for exemption) 1. Allowed, subject to all just exceptions. 2. The applications are disposed off. ITA Nos. 449-451 & 453 of 2016 3. Admit. 4. The question of law urged is whether in the .....

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assessee. As a consequence of that, notice was issued to the assessee under Section 153C of the Act by the Assessing Officer (AO), who also co-incidentally happened to be the AO of the searched party i.e Tejwant Singh and Ved Prakash Bharti and had issued notice under Section 153A of the Act. The assessments and additions finally made in the block period were the subject matter of an appeal to the CIT(A), which upheld that. In the circumstances, the assessee s appeal to the ITAT, which upheld it .....

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action i.e. that the documents belonged to the assessee , should be sustained. For this, learned counsel relied upon the subsequent amendment to Section 153C of the Act, brought into force with effect from 01.06.2015 by the Finance Act, 2015. It was submitted that the legislature was conscious of the pitfalls that existed in the previous legislation and, therefore, deleted reference to the expression belonging to and instead substituting with pertains or pertained to . 7. Learned counsel also re .....

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as considered the submissions. The reasons or satisfaction note that formed basis of the notice under Section 153C of the Act to the assessee in this case are extracted below:- " Name and address of the assessee : M/s Super malls (P) Ltd Sector12, HUDA, Karnal Regd Office at 51 - Transport Centre, Punjabi Bagh, New Delhi. Asstt. Year : 2005-06 to 2010-11 PAN : AAICS2163F Status : Company Reasons/Satisfaction note for taking up the case of M/s Super Malls (P) Ltd. Sector- 12, HUDA, Karnal Re .....

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09.04.2010 at the residential/business premises of Sh. Tejwant Singh & Sh. Ved Parkash Bharti Group of cases, Karnal, Panipat & Delhi and a survey u/s 133A of the IT. Act, 1961 was also carried out the business premises of Mls Super Mall (P) Ltd Karnal & New Delhi. During the course of search on 08109.04.2010 at residence of Sh.Ved Parkash Bharti who is a Director in the assessee company M/s Super Mall (P) Ltd., Pen drives were found and seized as per Annexure-3 from vehicle No. HR06 .....

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P) Ltd, Karnal is which he is Director. In view of the above and as per the provisions of sub-section 91 of Section 153C of the Act, I am satisfied that the document seized from the residence of Sh. Ved Parkash Bharti belongs to a person i.e. Super Mall (P) Ltd, other than the person referred in section 153A. Accordingly it is directed to issue such person (M/s Super Mall (P) Ltd) notice and assess and reassess income in accordance with the provision of section 153A of the Act. Dated: 22.02.2013 .....

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