2014 (12) TMI 1067

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....the Honble The Chief Justice Sri Kalyan Jyoti Sengupta) This appeal is sought to be preferred and admitted against the judgment and order of the learned Tribunal dt.28.5.2014 in relation to the assessment year 2009-2010 on the following suggested question of law. In the facts and circumstances of the case, whether the Hon'ble Tribunal (ITAT) is correct in law in quashing the assessment frame....

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....me Tax Act, 1961 (hereinafter referred to as the Act). This action has to be taken against a third party in respect of the incriminating materials brought out in connection with search and seizure conducted on another party. Section 153C of the Act specifically says that the Assessing Officer must be satisfied that such action is required to be initiated. Sri Narasimha Sarma, learned counsel for ....

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....rticle or thing or books of account or documents seized or requisitioned belongs or belong to a person other than the person referred to in section 153A, then the books of account or documents or assets seized or requisitioned shall be handed over to the Assessing Officer having jurisdiction over such other person and that Assessing Officer shall proceed against each such other person and issue no....

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....ver third party on receipt of the seized material or books of accounts or document being handed over to him shall record his own satisfaction after examining the same independently without being influenced by the satisfaction of the Seizing Officer. In other words it is not an automatic action. We find satisfaction of two officers is missing. In this connection we set out the text of the order of ....