TaxTMI 
TaxTMI 
2019 (9) TMI 405
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....out on M/s Satya Parkash & Brothers group of cases on 28.10.2010 headed by Sh. Satya Prakash Gupta. M/s S.R.G. Infrastructures P. Ltd. is one of the associate companies of the group. During search on the group, certain documents relating to M/s S.R.G. Infrastructures P. Ltd. were found and seized. The Assessing Officer accordingly issued notice u/s 153C of the Act on 8th May, 2012 requiring the assessee to file return of income within 15 days from the service of notice u/s 153C of the IT Act, 1961. The assessee, vide letter dated 27.11.2012, submitted that the return already filed on 30th March, 2012 declaring total income of Rs. 8,270/- may be treated as return filed in response to notice u/s 153C of the IT Act. During the course of assess....
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....law in quashing the order passed by the Assessing Officer by treating the assumption of jurisdiction u/s 153C bad in law by relying on the ratio of judgment of the Hon'ble High Court in the case of M/s Pepsi Foods (P) Ltd. (supra) and M/s Pepsico India Holdings Pvt. Ltd. (Supra). 3. On the fact and circumstances of the case the Ld. CIT(A) has erred in law in deciding the case without going into merits of the case. 4. The appellant craves leave to add, amend any/all grounds of appeal before or during the course of hearing of the appeal." 5. The ld. DR strongly challenged the order of the CIT(A). She submitted that the Assessing Officer of the searched person and the Assessing Officer of the assessee was one and the s....
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....l), she submitted that the Hon'ble High Court in the said decision has held that the statement made by the Director of the assessee company during the course of search at his premises that some of the cash seized from his premises belonged to the assessee was sufficient material to initiate proceedings u/s 153C in case of the assessee. The Hon'ble High Court in the said decision has considered the decision in the case of Pepsico India Hoding Ltd. (supra). There also the Assessing Officer of the search person and the assessee were the same and the satisfaction note was recorded by the Assessing Officer of the assessee. The Hon'ble High Court held that the issue of notice u/s 153C is valid. Referring to the decision of Hon'ble....
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.... arguments made by both the sides and perused the orders of the Assessing Officer and CIT(A). We have also considered the various decisions relied on by both the sides. We find the Assessing Officer in the above case has passed the order u/s 153C read with section 143(3) and determined the total income of the assessee at Rs. 1,43,23,550/- wherein he disallowed the expenses of Rs. 1,70,280/- and made addition of Rs. 1,41,45,000/- as 'Income from other sources.' We find the ld.CIT(A) quashed the proceedings u/s 153C on the ground that the satisfaction note in respect of 153C proceedings was not recorded by the Assessing Officer of the searched person. While doing so, he relied on the decision of the Hon'ble Delhi High Court in the case of....
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....e other person has to be recorded by the AO of the searched person prior to the initiation of the proceedings against the other person. This is a sine die non for ITA Nos. 375, 376, 377, 378, 379/2017 Page 3 of 4 triggering the proceedings against the other person under Section 153C of the Act. (v) There do not have to be two separate satisfaction notes prepared by the AO of the searched person even where he is also the AO of the other person. In such event, the AO need make only one satisfaction note. That satisfaction note is qua the other person. Further, it is sufficient that such satisfaction note is placed in the file of the other person by the AO in his capacity as the AO of such other person." 7. In that view of th....