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TMI Blog2016 (6) TMI 83X X X X Extracts X X X X X X X X Extracts X X X X ..... not in dispute that the assessee had filed the return for AY 2004-05 alongwith the original copy of the audited profit & loss account and balance sheet. Search had taken place on 31.07.2008 while the return of income alongwith the original profit & loss account and balance sheet was already filed more than three and a half years before the date of search. In the remand report dated 23.07.2010, the Assessing Officer has also not disputed the above fact but he tried to justify action under Section 153C on the ground that for issue of notice under Section 153C, it is not necessary that the document found and seized should be of incriminating nature. Therefore, we hold that the underlying condition for invoking the jurisdiction under Section 15 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ure A-45, Hard Disc containing Books of Accounts of M/s. Narsi Creations. Thus the proceedings u/s. 153C r.w. section 153A of the Income Tax Act, 1961 are being initiated in the above case. Deputy Commissioner of Income Tax, Central Circle-12. New Delhi. 4. The Ld. AR submitted that the satisfaction note recorded is similar in all the assessment year as relates to the premises and the search party. The Ld. AR further pointed out though there was search, however, the same took place at premises which was not belonging to assessee company. The assessee was asked to file its return and accordingly assessee filed its return declaring income stated therein. The same was filed on 05.08.2010 similar to the returns filed by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ITAT, New Delhi Bench judgment has been confirmed by the jurisdictional High Court. 7. The Ld. DR tried to distinguish the judgments but was not able to answer whether the Assessing Officer for the search party has recorded his satisfaction or not. Merely recording satisfaction by the Assessing Officer of the assessee in question will not amount it as a satisfaction. The Ld. DR submitted that since the Assessing Officer of both the persons was the same, there was no question of handing over and taking over of the documents. 8. We have carefully considered the arguments of both the sides and perused the material placed before us. Section 153C of the Income-tax Act, 1961 reads as under:- 153C. [(1)] Notwithstanding anything contai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... searched that any money, bullion, jewellery or other valuable article or thing or books of account or documents seized belong to the person other than the person searched is a sine qua non for initiating action under Section 153C. 10. The condition for recording satisfaction by the Assessing Officer of the person searched has to be present. In the case of Section 153C, the Assessing Officer of the person searched is to be satisfied that any money, bullion, jewellery or other valuable article or thing or books of account or documents belong to a person other than the person searched. Thereafter, the Assessing Officer of the person searched has to hand over the books of account, documents or asset seized to the Assessing Officer having ju ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or other valuable article or thing or books of account or documents belong to the person other than the person searched. Then, the copy of this satisfaction note is to be placed in the file of such other person and the relevant document should also be transferred from the file of person searched to the file of such other person. Thereafter, in the capacity of the Assessing Officer of such other person, he has to issue the notice under Section 153A read with Section 153C. The Assessing Officer of the person searched and such other person may be the same but these are two different assessees and, therefore, the Assessing Officer has to carry out the dual exercise, first as the Assessing Officer of the person searched in which he has to record ..... X X X X Extracts X X X X X X X X Extracts X X X X
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