TaxTMI 
TaxTMI 
2015 (11) TMI 1123
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.... of income declaring total income of Rs. 6,93,780/- after claiming brought forward losses of earlier years. Thereafter assessment was framed u/s. 153C r.w.s. 153A vide order dated 30.12.2010 and the total income was determined at Rs. 26,73,280/-. Aggrieved by the order of A.O., Assessee carried the matter before ld. CIT(A) who vide order dated 25.11.2011 dismissed the appeal of the Assessee. Aggrieved by the aforesaid order of ld. CIT(A), Assessee is now in appeal before us and has raised the following grounds:- 1. In law and in the facts and circumstances of the appellant's case, the learned CIT(A) has grossly erred in rejecting Grounds No. 1 and 2 of the appellant's appeal before him challenging the validity of the assessment order passed u/s. 153C read with Section 153A and 143(3) of the Income-tax Act, 1961. 2. In law and in the facts and circumstances of the appellant's case, the learned CIT(A) ought to have appreciated, inter alia,: (a) The appellant's elaborate submissions before him, in the right perspective; (b) that, as he had himself recalled in the impugned Appellate Order, the search warrant u/s. 132 had been issued in the joint names of Shri R....
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....e disclosed by ShriRameshbhai B. Shah in his Settlement Petition had come from the income generated by the operations of various partnership firms including the present appellant, in the following terms (emphasis supplied): "5.9 ---- Moreover, it is interesting to note that ShriRameshbhai B. Shah has gone before the Settlement Commission offering an additional income of Rs. 2,30,91,000/- for the assessment years 2003-04 to 2009-10. The petition of the applicant has been admitted by the Settlement Commission. One of major portion of disclosure relates to amounts received from partnership firms out of profit from operations. Thus, ShriRameshbhai B. Shah has offered income on account of share in unaccounted receipts of the firms.---" 3.3 The appellant therefore, prays that this Hon'ble Tribunal may be pleased to order.that the learned CIT(A) ought not to have upheld the Assessing Officer's estimate of total undisclosed income of Rs. 35,29,500 as against the total undisclosed income of Rs. 15,50,000 offered by the appellant; 4 In law and in the facts and circumstances of the appellant's case, the learned CIT(A) has grossly erred in dismissing Ground No. 7 of the appe....
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....l has held that since the notice issued u/s. 153C was invalid, the assessment orders framed u/s. 153C r.w.s. 153A were also quashed. He placed on record the copy of the Tribunal decision in the group cases passed in IT(SS)A No. 68/A/2012 & Ors. order dated 11.09.2015. He further submitted that relying on the decision in the case of Parshwa Corporation & Ors. (supra), the Co-ordinate Bench later on in the case of Ratnaraj Sarees Pvt. Ltd. In IT(SS)A No. 18/A/2012 order dated 15.10.2015 had quashed the assessment order. He also placed on record the copy of the aforesaid decision. He therefore submitted that since the notice issued u/s. 153C r.w.s. 153A dated 29.08.2008 is verbatim copy of the notice issued in the case of group cases and since the facts of the case are identical to that of the group cases, the assessment order passed u/s. 153C dated 30.12.2010 be quashed. Ld. D.R. on the other hand supported the order of A.O and ld. CIT(A). 8 We have heard the rival submissions and perused the material on record. Before us, ld. A.R. interalia submitted that the notice issued u/s. 153C was invalid and therefore the assessment order framed u/s. 153C r.w.s. 153A also needs to be quashed....
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....ecord any satisfaction prior to issue of notice u/s 153C. The so-called satisfaction recorded in the notice u/s 153C is totally vague. It has not specified which valuable articles/things/books of accounts/documents were found from Shri Rameshbhai B, Shah which belongs to the assessee. In the assessment order the Assessing Officer has mentioned that in the laptop of Shri Rameshbhai B. Shah the data pertaining to the assessee were found and on that basis notices u/s 153C have been issued. However, in the notice u/s 153C, wherein the Assessing Officer is claimed to have been recorded the satisfaction for issue of the notice, there is no mention about such laptop or the alleged data in such laptop which is claimed to be belonged to the assessee. In view of above, we have no hesitation to hold that the basic condition for issue of notice u/s 153C has not been satisfied. 19. The Id. CIT-DR has claimed that any procedural irregularity in the issuance of notice u/s 153C is a curable defect as provided in Section 292B of the Income-tax Act. We are unable to agree with this contention of the Id. Departmental Representative. Section 292B reads as under:- "292B. No return of income, asses....