One Section 153C satisfaction note Sufficient if AO for Both Searched & Other Person is Same

KBL Layout Vs ACIT (ITAT Bangalore)

ITAT Bangalore held that in case where AO of the searched person and the other person is the same, there can be one satisfaction note prepared by AO. Preparation of one satisfaction note will satisfy the requirement of section 153C of the Income Tax Act.

Facts- The assessee M/s KBL Layout belongs to Sri C R Lakshminarayanan and K B Lakshman group of cases. There was a search action u/s 132 of Income Tax Act conducted in the case of Sri C

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