Whether Section 153C enables AO to issue notice to third parties on the basis of entries in some documents

Brief about the case A search took place on 14.02.2006 in the premises of M/s Radico Khaitan.In the course of these search proceedings, various documents including reports narrating amounts alleged to have been received or receivable from various members of the UPDA and the basis thereof were recovered. The revenue also relied upon the statement of Mr. R K Miglani. On the basis of these materials, notice was issued under Section 153C to the assessee/respondents. The notice was challenged by the respective assessees on the ground that the documents could not constitute valid material since they...