ITAT Overturns Assessments u/s 153C for Lack of AO Satisfaction; High Court Upholds Decision for Seven Years.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Assessment u/s 153C - necessity of recording satisfaction by AO of the searched person - ITAT followed various judgments of including the SC, HC and tribunal itself to hold that the notice issued by the AO u/s 153-C of the IT Act deserves to be quashed and accordingly had proceeded to quash the assessment orders framed by the AO u/s 153-C read with Section 143(3) of the Income Tax Act. Accordingly, the additional ground was allowed in all the seven years. - Order of ITAT sustained - HC....