Assessment u/s 153C on non-recording of reasons & unsigned order sheet invalid

Sri Sesha Sai Township P. Ltd. Vs ACIT (ITAT Visakhapatnam)

Conclusion: Where AO of searched person had not recorded the reasons and order sheet of  AO of assessee though reasons were typed but remained unsigned, notice issued u/s 153C and the assessment order passed by AO was not valid as AO did not comply with the statutory requirement for issue of notice u/s 153C.

Held: AO initiated proceedings under section 153C in assessee’s case. Assessee contende

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