TMI Blog2021 (3) TMI 711X X X X Extracts X X X X X X X X Extracts X X X X ..... of the assessment order. Thus, at the threshold itself the assessment order passed u/s 153C was rightly quashed by the CIT(A). The CIT(A) has further given the observations on merit which is detailed and the Revenue has not given any contrary factual aspect. Therefore, the appeal of the Revenue is dismissed. - I.T.A. No.6658/Del/2016 (A.Y 2013-14) - - - Dated:- 9-2-2021 - SHRI N. K. BILLAIYA, ACCOUNTANT MEMBER AND MS SUCHITRA KAMBLE, JUDICIAL MEMBER Appellant by Smt. Sushma Singh, CIT(DR) Respondent by Sh. Ved Jain, adv, Sh. Akshit Goel, CA Sh. Ashish Goel, CA ORDER PER SUCHITRA KAMBLE, JM This appeal is filed by the Revenue against order dated 21/010/2016 passed by CIT(A)-23, New Delhi For Assessment Year 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that in the assessee s case no incriminating document was seized and anything relating to such documents were not intimated to the assessee. Therefore, requested to drop the proceedings u/s 153C of the Act. The assessee again filed objection regarding proceedings u/s 153C of the Act. It was again rebutted on 13/1/2016, the assessee had filed original ITR on 23/09/2013 declaring total income of Rs. NIL . Notice u/s 143(2) was issued on 15/1/2016 which was duly served to the assessee. Notice u/s 142(1) was issued with detailed questionnaire on 31/12/2115. In response to the said notices CA of the assessee appeared from time to time and filed written submissions in response to the various queries raised. The Assessing Officer observed that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reby treating the same as unaccounted income of the Companies u/s 68 of the Act. 4. Being aggrieved by the assessment order, the assessee filed appeal before the CIT(A). The CIT(A) allowed the appeal of the assessee on the legal issue as well as on the merits. 5. The Ld. DR submitted that the assessment and the documents belonging to Mauria Group was very much related to the assessee company which is a group company of Mauria Udyog Ltd. The Ld. DR pointed out from page no. 15 of the order of the CIT(A) that the satisfaction was properly recorded. Thus, the Ld. DR submitted that the CIT(A) was not right in quashing the assessment order on this ground. On merit, the Ld. DR submitted that the CIT(A) has not at all considered the observat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... banking channels. The Ld. AR relied upon the following orders/decision:- i) Mauria Udyog Ltd. (ITA No. 6660/Del/2016 order dated 29.11.2018 Del. Tri.) ii) CIT vs. RRJ Securities Ltd. 380 ITR 612 (Del HC) iii) PCIT vs. M/s Dreamcity Buildwell Pvt. Ltd. (ITA No. 1152/17 order dated 9.8.2019 Del. HC) iv) Kishinchand Chellaram vs. DCIT 125 ITR 713 (SC) 7. We have heard both the parties and perused the material available on record. At the outset from the perusal of the satisfaction note reproduced in the order of the CIT(A) as well as the assessment order, it can be seen that no incriminating material was found in assessee s case which was belonging to the assessee during the search and seizure operation in case of Mauria Group of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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