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2021 (3) TMI 732 - ITAT BANGALOREValidity of proceedings initiated u/s 153C - satisfaction recorded by the AO should mention that the incriminating material found during the course of search showed undisclosed income of another assessee - CIT-A cancelled the proceedings initiated against assessee - HELD THAT:- Admittedly, no specific observation has been made in the satisfaction recorded by the Assessing Officer that the incriminating material shows availability of any undisclosed income. Hence the decision rendered by Hon’ble Karnataka High Court in the assessee’s own case [2016 (5) TMI 372 - KARNATAKA HIGH COURT] shall squarely apply to both the years under consideration. In view of the foregoing discussions and further, since the Ld CIT(A) has followed the binding decision rendered by Hon’ble jurisdictional Karnataka High Court, we do not find any reason in interfering with the order passed by Ld CIT(A) cancelling the initiation of proceedings u/s 153C of the Act. Accordingly, we uphold the order passed by the learned CIT(A) in both the years under consideration. - Decided against revenue.
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