Case Law Details
Salasar Dwellers Pvt. Ltd. Vs DCIT (ITAT Mumbai)
Satisfaction in the case is not recorded by the AO of the searched party, which is a pre-condition for invoking jurisdiction u/s 153C of the Act and hence, the assessment framed u/s 153C read with Section u/s 143(3) of the Act is bad in law and hence, quashed. The jurisdictional issue of the assessee’s cross objection is allowed.
FULL TEXT OF THE ITAT JUDGMENT
Out of these two, one appeal filed by the Revenue and the Cross Objection by the assessee are arising out of the order of Commissioner of Income Tax (Appeals)-51, Mumbai [in short CIT(A)], in appeal No. CIT(A)- 51/IT-14/2013-14, dated 11.09.2015. The Assessment was framed by the Asst. Commissioner of Income Tax, Central Circle 34, Mumbai (in short ‘ACIT/ AO’) for the A.Y. 2008-09 vide order dated 29.12.2011 under section 143(3) read with section 153C of the Income Tax Act, 1961 (hereinafter ‘the Act’).
2. At the outset, the learned Counsel for the assessee stated that the assessee has raised jurisdictional issue in its cross objection against the order of CIT(A) upholding the validity of assessment under section 153C of the Act in the absence of any incriminating material found during the course of search under section 132 of the Act. Further, according to the learned Counsel there is no satisfaction recorded by the AO of the searched person as required under section 153C of the Act. For this assessee has raised the following two grounds in its Cross Objection: –
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