2017 (3) TMI 1839

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..... the grounds. Since the AO has reported that the satisfaction has not been recorded as required under the law, we are inclined to allow the additional ground and hold that the assessment u/s 153C is not sustainable. - Decided in favour of assessee.
Smt. P. Madhavi Devi And Shri B. Ramakotaiah, JJ. For Appellant : Shri P. Murali Mohan Rao For Respondents : Shri A. Sitarama Rao, DR ORDER Smt. P. Madhavi Devi, J. This is assessee's appeal for the A.Y 2010-11. In this appeal, the assessee has raised the following grounds of appeal: "1. The order of the Ld. CIT (A)-VII, Hyderabad is erroneous both on facts and in law, to the extent the order is prejudicial to the interest of the appellant. 2. The Ld. CIT(A)-VII, ought to have appre .....

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..... ficer's order, by concluding that it is enough to invoke the provisions of section 153C, if the document found in a searched person's place just belong to the assessee, without appreciating the legal position that such a document should have bearing on the determination in the assessment of a third person. 9. The Ld. CIT(A) ought to have considered that the documents alleged to be belonging to the assessee, in fact, do not have any bearing on the determination of the impugned assessment, which fact is clearly visible from the additions made in the assessment order. 10. The Assessing Officer erred in making the assessment u/s. 143(3) r.w.s 153A without there being any incriminating material belonging to the assessee. Case law: .....

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..... 29/12/16. The Senior Authorised Representative II Income Tax Appellate Tribunal A - Bench, Hyderabad. Sub: Appeal in the case of My s, Madhucon Infra Limited - PAN: AAECM6443Q- for the assessment years 2010-11 - ITA No.266/HI 15 - submission Report _Regarding. Ref: 1) Letter in F.No.Sr.AR-II/ITAT / A-Bench/2661 15/2016-17, dated 05.12.2016 received from the Sr. AR-II, ITAT-II, 'A' Bench, Hyderabad. 2) Letter in F.No.DCIT-C-16(2)/ITAT 12016-17, dated 07.12.2016 received from the DCIT, Circle-16 (2), Hyderabad . Please refer to the above. 2. As directed, I am herewith submitting that after verification of assessment record, it is found that before transmitting records to the A.O. of M/s.Madhacaon Infra Limited, no s .....

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