https://www.taxtmi.com/caselaws?id=237054 The Tribunal held that the Assessing Officer's assumption of jurisdiction under Section 153C of the Income Tax Act was invalid as the seized document did not belong to the assessees, failing the prerequisite for invoking the section. The Tribunal also found that the assessment order, based on assumptions and third-party statements, lacked merit. Consequently, the Tribunal allowed the appeals, declaring the assessment orders without jurisdiction on the grounds that the statutory requirements under Section 153C were not met. en-us Fri, 28 Jun 2013 00:00:00 +0530 Fri, 05 Aug 2022 18:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237054 The Tribunal held that the Assessing Officer's assumption of jurisdiction under Section 153C of the Income Tax Act was invalid as the seized document did not belong to the assessees, failing the prerequisite for invoking the section. The Tribunal also found that the assessment order, based on assumptions and third-party statements, lacked merit. Consequently, the Tribunal allowed the appeals, declaring the assessment orders without jurisdiction on the grounds that the statutory requirements under Section 153C were not met. Case-Laws Income Tax Fri, 28 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237054