2016 (11) TMI 1370

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....451 & 453 of 2016 3. Admit. 4. The question of law urged is whether in the circumstances of the case, the ITAT findings that the satisfaction note was flawed and could not withstand scrutiny under Section 153(C) of the Income Tax Act, 1961 (hereinafter to be referred as 'the Act') is correct. 5. This Court does not propose to advert the facts in detail except to state that the search and seizure operation was carried out in the premises of Shri Tejwant Singh and one Shri Ved Prakash Bharti. A survey too was conducted under Section 133A of the Act in the premises of the assessee. As a consequence of that, notice was issued to the assessee under Section 153C of the Act by the Assessing Officer (AO), who also co-incidentally happened to be....

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....reference to certain documents reflecting a state of factual affairs did not justify a conclusion that the material or materials found in the pen drive "belonged" to the assessee i.e the respondent. It was also urged that the note itself pointed to the material found referable or relatable to other third parties as well. 8. This Court has considered the submissions. The reasons or satisfaction note that formed basis of the notice under Section 153C of the Act to the assessee in this case are extracted below:- " Name and address of the assessee : M/s Super malls (P) Ltd Sector12, HUDA, Karnal Regd Office at 51 - Transport Centre, Punjabi Bagh, New Delhi. Asstt. Year : 2005-06 to 2010-11 PAN : AAICS2163F Status : Company Reaso....

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....f search, he has also stated that these documents pertain to him and Mls Super Mall (P) Ltd, Karnal is which he is Director. In view of the above and as per the provisions of sub-section 91 of Section 153C of the Act, I am satisfied that the document seized from the residence of Sh. Ved Parkash Bharti belongs to a person i.e. Super Mall (P) Ltd, other than the person referred in section 153A. Accordingly it is directed to issue such person (M/s Super Mall (P) Ltd) notice and assess and reassess income in accordance with the provision of section 153A of the Act. Dated: 22.02.2013 -sd/- (VED PARKASH KALlA) Asstt. Commissioner of Income Tax, Central Circle, Karnal" 9. A plain reading of the note clearly shows that search in the business ....