2012 (8) TMI 966

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....143(3) of the I.T. Act holding that the relevant documents did not belong to the assessee despite the fact that the assessee denied only the cash transactions noted therein, while the transactions in cheque tallied with the assessee's transactions." 2. Briefly stated, the relevant material facts are as follows: It is not a dispute that search and seizure operation was carried out in the premises of M/s. Oberoi Constructions Pvt. Ltd., Mumbai and certain incriminating documents were found in the said search and seizure operation. These documents included (a) summary of accounts of Vineet Dhingra i.e. the assessee before us, (b) details of payments made on behalf of Vineet Dhingra, (c) particulars of the payments made on behalf of Vineet D....

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.... AO is in appeal before us. 3. We have heard the rival contentions and perused the materials available on record. We find that unlike section 158BD, which referred to "income" belonging to a person other than the person whose premises was subjected to search and seizure proceedings, section 153C refers to "any money, bullion, jewellery or other valuable article or things or books of accounts or documents seized or requisitioned belong to a person other than the person referred to in section 153A "(i.e. the person where a search is initiated under section 132 or where books of accounts other documents or any assets are requisitioned under section 132A after 31st day of May, 2003)". In other words, therefore, while the emphasis was on "inc....

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....the petitioner. It may be that there is a reference to the petitioner in as much as his name is reflected in the list under the heading 'Samutkarsh members details' and certain details are given under different columns against the name of the petitioner along with other members, however, it is nobody's case that the said documents belong to the petitioner. It is not even the case of Revenue that the said three documents are in the handwriting of the petitioner. In the circumstances, when the condition precedent for issuance of notice is not fulfilled any action taken under s.153C of the Act stands vitiated." 4. We humbly bow before the views expressed by a higher forum in judicial hierarchy. Undoubtedly, at the first sight, this legal po....