Mere Material found during survey not gives any authorization to AO to make assessment U/s. 153C & 153A unless the same evidences Income understatement

Supraja’s Sandy Lane Bar & Restaurant Vs. ACIT (ITAT Visakhapatnam) As per 153C of Income Tax Act for invoking jurisdiction, there must be incriminating material found and seized during the course of search in form of money, bullion, jewellery or the evidences indicating the inflation of e expenditure or undisclosed investments or suppression of Income.etc. As per the satisfaction note, the notice under section 153C was issued basing on the material found and seized during the search in the residential premises of A.T. Rayudu and Group bearing No. ATR/B/21 page No. 27-31. On verification...