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TMI Blog2015 (4) TMI 190X X X X Extracts X X X X X X X X Extracts X X X X ..... nformation or unaccounted or undisclosed hidden information was discovered or seized by the revenue from the assessee. In the circumstances, the general satisfaction and as recorded in the note is not enough. The tribunal has found that with regard to cash and jewellery, the explanation of the assessee was that he had agricultural properties and derived agricultural income. That income was utilised to acquire jewellery that was belonging to him and his family. With regard to cash and stated to be recovered from the students for granting admissions, we do not find that any inquiries were made. There is absolutely nothing to indicate as to in which educational courses, the education is imparted and institutionwise. Whether the admissions are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd validity of the notice under section153C of the Income Tax Act, 1961. 4. Mr.Singh would submit that the discussion in the tribunal's order on the additional grounds raises substantial question of law. We are unable to agree with him and for the following reasons: The assessee before the tribunal is an Educational Institution registered under the Bombay Public Trust Act, 1950 and Societies Registration Act, 1860. It was also registered under section 12A(a) of the Income Tax Act, 1961 since the assessment year 1994-95. One Mr.M.N. Navale is the President of the assessee Educational Society. The search and seizure operation was carried out on 20.7.2005 and certain loose papers were seized, simultaneously the survey action was cond ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see filed an appeal before the Commissioner of Income Tax (Appeals), who partly allowed it. However, the assessee was not satisfied with the order of the Commissioner and challenged it in further appeal to the tribunal. 6. The tribunal allowed parties to raise an additional ground and reply to it, namely, about validity of notice under section 153C of the Act. After referring to the language of notice under section 153C as it stood then, the tribunal found that the satisfaction of the Assessing Officer ought to be in terms of this provision and particularly sub-section (1) thereof, therefore, should be satisfied that any money, bullion, jewellery or other valuable articles or thing or books of account or documents seized or requisitioned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essments. They could not have been disturbed. The documents in question are neither incriminating ones nor unaccounted transactions of the assessee. They also did not relate to the four assessment years. It is in these circumstances that the tribunal found that it will not be possible to uphold the stand of the revenue that overall approach in matters of concealment by the group assessee and all the discoveries of the search on Shri Navale and it concerns, will have to be taken into account while forming the satisfaction. The satisfaction note was very closely examined and the reasons assigned by the Assessing Officer were found to be silent about the assessment year in which specific incriminating information or unaccounted or undisclosed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e and which is not accounted that is his return of income which is reflected in the satisfaction note. If there is reference made to some loose papers found and seized from his residence indicating some on money receipt during the admission process then above co-relation and assessment year wise ought to have been established. In the circumstances we do not think that the tribunal's order raises any substantial question of law. 8. Reliance on the judgment of the Division Bench of the High Court of Delhi reported in case of SSP Aviation Ltd. Vs. Deputy Commissioner of Income Tax (2012) 346 ITR 177 is misplaced. There, search was carried out in the case of P group of companies. It was found that the assessee before the Hon'ble ..... X X X X Extracts X X X X X X X X Extracts X X X X
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