AI Drafter 
TaxTMI 
TaxTMI 
2018 (4) TMI 176
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....T (A) erred in quashing the assessment order. 2. On the facts and in circumstances of the case and in law, the Ld. CIT(A) has erred in as much as laying down conditions of finding of incriminating documents for invoking provision of section al 53(A) when the plain and clear words of the section do not envisage the same. 3. On the facts and in the circumstances of the case, the Ld. CIT(A) failed to appreciate that there is no restriction on the powers of I.T.A. No.990 & 991/DEL/2015 2 power of Assessing officer u/s 153 A read with 153C of the Income Tax Act. 1961 to confine himself to the incriminating material found during the search. 4. The order of the CIT (A) is erroneous and is not tenable on facts and in law. 5. The appella....
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....2015 3 was issued to the assessee on 25.09.2012. The satisfaction note in this regard was supplied to the assessee on 22.10.2012 on his requisition. In response to the said notice, return declaring loss of Rs. 7,972/- was filed on 11.12.2012." 4. From the above narration of facts as culled out from the assessment order, we find that the search and seizure operation action u/s.132 was carried out on 22.03.2011 in the Amtek Group of cases. During the course of search certain documents belonging to the assessee was also found and seized. Accordingly, in the case of the assessee jurisdiction for making the assessment was to be acquired u/s.153C by the Assessing Officer. In the appellate order, there is reproduction of "satisfaction note" rec....
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....ises Annexure Page no. Description 1. 02-3 M/s Amtek Auto Ltd. 9 Allied House LSC Madangir, New Delhi AA-1 1-51 Original share certificates without address of the share holders. 2. -do- ----do ------ AA-2 1-86 Blank signed share transfer share capital & share premium of Rs. 1.71 crores has been raised by the company from 44 a. From the detail given in the above documents, I am satisfied that the pages mentioned in the above table and seized from the premises M/s Amtek Auto Ltd. 9 Allied House LSC Madangir, New Delhi belongs to M/s Yash Machines Pvt. Ltd. Therefore, it is a fit case for assessment u/s 153C of the Income Tax Act, 1961. Accordingly, notices u/s 153C Income Tax Act, 1961 are I.....
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....r observing and holding as under:- "A perusal of the above findings, clearly reveals that Hon'ble ITAT has set the guidelines for assuming the jurisdiction u/s 153C i.e. the assessing officer of the assessee searched u/s 132 will write satisfaction note that certain documents belonged to I.T.A. No.990 & 991/DEL/2015 6 other person and such document/assets/books of accounts will be handed over to the assessing officer of 'other person'. Then on the basis of satisfaction such documents/assets/books of accounts, the assessing officer of other person will assume jurisdiction u/s 153C to assess such other person. Hon'ble ITAT, New Delhi in the case cited supra further held that even if the assessing officer of the assessee searched and suc....
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.... be the same but these are two different assessee's and therefore, the assessing officer has to carry out the dual exercise, first as the Assessing officer of the person searched in which he has to record the satisfaction, during the course of assessment proceedings of the person searched. After recording such satisfaction note in the file of the person searched, the same is to be placed in the file of such other person. Then, in his capacity as the Assessing Officer of such other person, he should take cognizance of such satisfaction note and thereafter issue notice under section 158BC. In this case, this exercise of recording the satisfaction during the assessment proceedings of the person searched has not been carried out. On the other h....