TMI Blog2016 (8) TMI 1359X X X X Extracts X X X X X X X X Extracts X X X X ..... yd/2014 - - - Dated:- 19-8-2016 - SHRI D. MANMOHAN, VICE PRESIDENT AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER For Assessee : Mr. S. Rama Rao For Revenue : Mr. K.J. Rao ORDER PER D. MANMOHAN, V.P. These appeals by the assessee are directed against the common order passed by the CIT(A), Guntur and they pertain to the A.Ys. 2004-05 to 2007-08. 2. Consequent to the sea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... led-upon to obtain the assessment record to verify as to whether satisfaction note was recorded at any stage of assessment under section 153C of the I.T. Act. Vide letter dated 09.05.2006 the Ld. D.R. enclosed a copy of the letter of the Asst. Commissioner of Income Tax, Circle-1, Nellore dated 03.05.2016 to submit that there is no satisfaction note recorded in the order sheets for the A.Ys. 2004- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he case of Mr. M. Srinivasa Reddy (HUF), Hyderabad vs. DCIT, Central Circle-2, Hyderabad in ITA.Nos. 1853, 1854, 1855, 1857 1858/H/2012 and the Tribunal vide order dated 09.08.2016 observed as under : 7. Under identical circumstances, the ITAT Hyderabad Bench in the case of Shettys Pharmaceuticals Biologicals Ltd., vs. DCIT, Central Circle-2, Hyderabad (2014) 47 taxmann.com 85 (Hyd.) (Tri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erefore, we are of the view that the ratio laid down in the above cases in respect to the point of satisfaction will apply for initiation of action u/s. 153C of the Act. In view of this, we are inclined to hold that initiation of proceedings u/s. 153C of the Act in the case of the assessee for these two assessment years is not proper as there is no satisfaction recorded by the AO having jurisdicti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urged by the assessee on merits. 5. Facts being identical, we hold that the proceedings initiated under section 153C of the Act are invalid. Since the proceedings initiated by the Assessing Officer are quashed, it is not necessary for us to go into the merits of the additions. 6. In the result, appeals filed by the assessee are allowed. Order pronounced in the open Court on 19.08.2016. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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