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TMI Blog2019 (12) TMI 1225X X X X Extracts X X X X X X X X Extracts X X X X ..... jurisdiction u/s 153C is not assumed properly and in accordance with law whereas the Assessing Officer duly recorded the satisfaction during the assessment proceedings. 2. On the facts and in circumstances of the case and in law, the CIT (A) has erred in allowing the appeal of the assessee without going into the merits of the case. 3. The order of the CIT (A) is erroneous and is not tenable on facts and in law. 4. The appellant craves leave to add, alter or amend any/all of the grounds of appeal before or during the course of the hearing of the appeal." 3. The assessee is a company incorporated on 14.01.2005 to carry on business of Real Estate. The assessee filed return u/s 139(1) relevant to the A.Y. 2007-08 on 30th March 2008 d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e jurisdiction u/s 153C is not assumed properly and in accordance with law whereas the Assessing officer duly recorded the satisfaction during the Assessing proceedings. The Ld. DR submitted that the Assessing Officer for the searched assessee as well as the present assessee are one and the same, therefore, the proper satisfaction was recorded and there is no assumption of jurisdiction u/s 153C, therefore, the matter may be decided on merit by the CIT(A) and the issues be restored back to the file of the CIT(A) to be decided on merit. The Ld. DR pointed out on Para 3.3 wherein the CIT(A) mentioned that a perusal of above satisfaction notice reveals that on the top of the satisfaction note the name of the appellant is written as the name of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the CIT(A) was that on page no. 56 of Annexure-A-3, seized from the premises of M/s Excel Infotech Pvt. Ltd., it was written that 'the total amount of Rs. 14.98 crores is to be borne by the second party (i.e. assessee) and on the same page it is also written that balance amount of Rs. 6.28 crores to be paid by the assessee company outside the books. But against the same amount two cheques bearing numbers 15686 dated 09-02-2007 for Rs. 3 crores and other cheque no. 15689 dated 13-02- 2007 for Rs. 3.28 crores the both of J&K Ltd. were mentioned with the name of M/s Thermax Construction Udyog Ltd. The only amount that was paid by the assessee by way of loan and advances is arising out of the joint venture contractual agreement was Rs. 6.28 cro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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