https://www.taxtmi.com/caselaws?id=415226 The Tribunal dismissed the revenue's appeals and allowed the assessee's cross objections. It held that the proceedings initiated under section 153C were void ab initio due to the lack of mandatory satisfaction recorded by the Assessing Officer of the searched person. Additionally, the Tribunal upheld the CIT(A)'s decision to delete the addition made on account of deemed dividend under section 2(22)(e) of the Act, as the amounts could not be considered as deemed dividends. The Tribunal found that the jurisdictional parameters for initiating action under section 153C were not met due to non-incriminating seized documents not related to the relevant assessment years. en-us Thu, 07 Oct 2021 00:00:00 +0530 Mon, 29 Nov 2021 20:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415226 The Tribunal dismissed the revenue's appeals and allowed the assessee's cross objections. It held that the proceedings initiated under section 153C were void ab initio due to the lack of mandatory satisfaction recorded by the Assessing Officer of the searched person. Additionally, the Tribunal upheld the CIT(A)'s decision to delete the addition made on account of deemed dividend under section 2(22)(e) of the Act, as the amounts could not be considered as deemed dividends. The Tribunal found that the jurisdictional parameters for initiating action under section 153C were not met due to non-incriminating seized documents not related to the relevant assessment years. Case-Laws Income Tax Thu, 07 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415226