AI OCR 
TaxTMI 
TaxTMI 
TaxTMI 
2024 (6) TMI 517
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....Act, 1961 (hereinafter referred to as 'the Act') by the ITO, Ward 1(2), Muzaffarnagar (hereinafter referred as the Ld. AO). 2. The brief facts of the case as conveniently picked from the assessment order are that cash of Rs. 80,77,500/- was seized from the appellant by the Punjab Police at Sirhind, District Fatehgarh Saheb, Punjab. The said information was made available to the Investigation Wing of the Department at Patiala. The statement of the appellant was recorded u/s 131(1A) of Act on 30-08-2014 by the ADIT (Investigation), Patiala. In the said statement it was stated by the appellant on oath that he was a supplier of live stock to M/s M.K. Overseas, Dera Basi and the cash had been given to him by the accountant of M/s M.K. Overseas.....
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....A of the Act. 3. The ld.CIT(A), in appeal, dismissed the grounds as raised and the assessee is in appeal before us wherein the following grounds have been raised:- "1. The assessment order passed was bad in law and against the facts of case involving factual contradiction in averments of AO. 2. The CIT[A] has erred to sustain and AO had erred to complete assessment u/s 153C without recording any satisfaction thereby against the circular no. 24/2015, therefore, assessment be annulled. 3. The CIT[A] has erred to sustain and AO has erred to add Rs. 8077500/- in the income of the "A" without any corroboration or independent evidence but on the basis of statement which was retracted/modified. 4. The AO has without any basis or eviden....
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....ct thereby the resultant proceedings needs be quashed. Additional Ground No.4: "The impugned assessment is invalid and without jurisdiction as the said assessment is completed without complying with mandatory legal requirements of the provisions of the Income Tax Act therefore such assessment is void ab initio and liable to be quashed." 5. Heard and perused the record. 5.1 The ld. AR, pressing the additional grounds, has submitted that since, based on the requisition u/s 132A of the Act of 30.08.2014, a notice u/s 153A of the Act was issued on 23.09.2016, the assessment proceedings were initiated u/s 153A of the Act. He submitted that the permission from competent authority was also taken for assessment u/s 153A of the Act while th....
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....-1, Muzaffarnagar by letter dated 29.12.2016 for assessment completed u/s 143(3)/153C of the Act. However, the Ld. AO had issued notice u/s 153A dated 23.03.2016, as made available at page 1 of the paper book. The assessment order dated 29.12.2016, stands passed u/s 143(3)/153C of the Act. The ld.CIT(A) also in para 2 and the title of the appeal refers that the impugned appeal before the ld. First Appellate Authority was against order u/s 143(3)/153C of the Act dated 29.12.2016. Even the ld. DR has submitted that the same is a case of a clerical error. However, the matter of fact is that the assessee had taken up a very specific plea that assessment was completed u/s 153C without recording of satisfaction note and, accordingly, before us, t....
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.... the assessment proceedings for the assessment year under consideration i.e., AY 2015-16 being search year were abated assessments and could not be completed u/s 153A or even 153C. 8.2 In any case, the assessment could not have been completed u/s 153C as the assessee is the alleged person searched himself and for that reasons the assessment was initiated by issuance of notice u/s 153A. Admittedly revenue does not rely any satisfaction note to assess the assessee u/s 153C as other person. 8.3 In this context, the argument of the ld. DR that section 153C may have been mentioned inadvertently have been rebutted duly by ld. AR by bringing forth copies of order sheets of the assessment proceedings. The noting dated 23/09/2016 shows that notice....