TMI Blog2021 (10) TMI 1242X X X X Extracts X X X X X X X X Extracts X X X X ..... same is not sustainable qua the instant latter aspect as well. We wish to make it clear that we are dealing with a search wherein the corresponding statutory provisions have to be given stricter interpretation only in light only in light of Commissioner of Customs Vs. Dilip Kumar Co. [ 2018 (7) TMI 1826 - SUPREME COURT] - We accordingly affirm the CIT(A)'s action under challenge holding the impugned 143(3) r.w.s. 153C assessment as lacking proper satisfaction. - Decided in favour of assessee. - ITA Nos. 491, 492, 493 & 494/Hyd/2020 - - - Dated:- 20-10-2021 - S.S. Godara, Member (J) And L.P. Sahu, Member (A) For the Appellant : Y.V.S.T. Sai, D.R. For the Respondents : P. Murali Mohana Rao ORDER Per Bench ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4. Learned CIT-DR vehemently contended during the course of hearing that the CIT(A) had erred in law and on facts in terming the impugned assessment as an invalid one for want of a valid satisfaction note by the Assessing Officer who was also the competent authority to assess the searched party M/s. MBS Jewellers Pvt. Ltd. He quoted hon'ble apex court's recent decision in M/s. Super Malls Pvt. Ltd. Vs. PCIT Civil Appeal No. 2006-2007 of 2020 dt. 5.3.2020 that twin rounds of satisfaction in case of a common Assessing Officer of both the searched person and that of the third party, is no more mandatory when any incriminating material is found or seized during the course of search belongs to , pertains to and relates to u/s. 153C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... responding statutory expression belongs to only held the field upto 1.6.2015 when the Finance Act, 2015 inserted sub-clauses (a) (b) to sub-section (1) of section 153C also including cases of the seized material belongs to or pertains to a person other than the searched assessee. Section 153C(2) also makes it clear that section 153A comes into play the moment of the Assessing Officer of such a third party initiates the corresponding proceedings to this effect. Coupled with all this in the 2nd proviso to sub-section (1) of section 153A that all assessments pending on the date of initiation of search shall abate. We hold in view of the foregoing statutory provisions that the Assessing Officer's foregoing alleged section 153C sat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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