Validity of Assessment u/s 153C - recording satisfaction note - ...

Income Tax

November 30, 2021

Validity of Assessment u/s 153C - recording satisfaction note - In the present case there is neither the recording of satisfaction by the AO of the searched person that the documents belong to the other person nor there is any finding that the documents so found were incriminating in nature. In our view a detailed scheme has been provided for initiation of Section 153C i.e. first there would be a satisfaction in the file of the AO of the searched person and thereafter transmission of the file along with the incriminating document to the AO of the other person and thereafter recording of satisfaction by the AO of the other person and issuance of notice u/s.153C of the Act and completion of proceedings. - AT

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Validity of Assessment u/s 153C - recording satisfaction note - ...

Income Tax

November 30, 2021

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