Assessment U/s. 153C without recording of satisfaction by AO of searched person is bad in law

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...