TMI Blog2022 (5) TMI 446X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment u/s. 153A and 153C of the Act. Thus, the bench is of considered opinion that Ld. Tax Authorities below were not justified in making assessment, not based upon incriminating material mentioned in the satisfaction note and thus acted beyond jurisdiction and scope of Section 153C/143(3) of the Act. That being so, the assessment order deserves to be quashed and the remaining grounds as raised in appeal need not be examined further. Consequently, the appeal of the assessee is allowed, - ITA No. 365/Del/2018 - - - Dated:- 4-5-2022 - SH. PRADIP KUMAR KEDIA , ACCOUNTANT MEMBER AND SH. ANUBHAV SHARMA , JUDICIAL MEMBER Assessee by : Shri Salil Aggarwal, Sr. Adv., Shri Shailesh Gupta, Adv. Revenue by : Shri J. S. Minhas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd as such addition made by the Assessing officer while passing the order u/s. 153C/143(3) is against the provision contained in the Income Tax Act, 1961 5. The Hon'ble Commissioner of Income Tax (A) officer while confirming the addition made on protective basis has failed to consider that the substantive addition made in the hands of companies of JP Minda group has been deleted by Hon'ble Commissioner of Income Tax (A) on the ground that the investment made by the appellant is genuine. 6. The appellant herein craves its right to alter, amend, add and/or withdraw any grounds of appeal and/or to take any additional grounds of appeal. 3. The facts in brief are a search seizure operation u/s. 132 of the Income Tax Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 397 ITR 344 settles the issue that in order to justify assumption of jurisdiction u/s. 153C of the Act. The documents seized must be incriminating and must relate to each of the assessment years whose assessments are sought to be reopened. The Ld. CIT(A) without distinguishing still upheld the findings of Ld. AO while in the light of satisfaction note dated 29.01.2016, there was no incriminating material for the relevant financial year 2013-14. On the other hand, ld. DR defended the findings of ld. Tax Authorities below submitting that satisfaction note was only indicative and based upon it the detail inquiry was done in the reassessment. 5. Appreciating the matter on record and the contentions raised it can be observed that the origin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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