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TMI Blog2022 (4) TMI 28X X X X Extracts X X X X X X X X Extracts X X X X ..... d not recorded a valid satisfaction u/s. 153C as well. We thus follow the judicial consistency to affirm the CIT s identical lower appellate findings in the absence of any distinction on facts and circumstances involved herein. Revenue appeal dismissed. X X X X Extracts X X X X X X X X Extracts X X X X ..... in the case of CIT vs. M/s. Shettys Pharmaceuticals & Biologicals Ltd., The relevant portion of the submissions made by the appellant are reproduced below: "3.1 Invalid Assessment completed u/s. 153C without recording Satisfaction for A.Y. 2007-08: In this regard, reliance is placed on the decision given by Hon'ble ITAT, Hyderabad - B Bench in the assessee's group case for the AY 2006-07 dated 09-12-2015 in the ITA Nos. 1082/H/2014 to 1087/H/2014, 1090/H/2014 & 1091/H/2014 wherein it is held that: "since the very basis i.e. the assessments under section 143(3) read with section 153C of the IT Act have been quashed, the order passed by the A.O. u/s. 154 has no legs to stand. Therefore the appeals against the order of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... satisfaction as required by the provisions of the Act. Accordingly, the Hon'ble ITAT quashed the assessment order passed u/s. 153C of the Act in view of absence of recording of satisfaction. It is not out of place to mention herein that the said order of ITAT was further challenged before High Court. The Hon'ble Jurisdictional High Court vide their judgment reported in CIT vs. Shetty Pharmaceuticals & Biologicals Limited in 57 Taxmann.com 282 has upheld the order of Hon'ble ITAT and held that recording of reason is a pre-condition for invoking of provisions of section 153C of the Act." 5.2 I have carefully considered the submissions made by the appellant as well as the observations of the AO in the impugned order. The c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reasons recorded in the case for issuing notice u/s. 153C are as under: "Search & Seizure operations were conducted in the MBS Jewellers Pvt. Ltd., group of cases on 11.03.2010. During the course of search, books of accounts, documents & other loose sheets were found and seized. As per the seized documents, pages 03 to 09 of Annexure A/PCG/Res/01 relates to Mrs. Reena Peterson w/o. R. Peterson proceedings u/s. 153C is initiated. Put up notices u/s. 153C & 142(1) of the IT Act." 5.3 From this noting, it is seen that the proceedings under section 153C are initiated only because there were certain material documents seized during the course of search in the case of MBS Jewellers P. Ltd., and certain pages therein related to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s a pre-condition for invoking jurisdiction and it is not a mere formality because recording of satisfaction postulates application of mind consciously as the documents seized must be belonging to the any other person other than the person referred to in section 153A. It was contended that the same Assessing Officer involved in the matter. This fact does not dispense with above requirement, it is settled position of law that when a thing is to be done in one particular matter under law this has to be done in that manner alone and not other way. The Tribunal has correctly followed the principle. There was no element of law to be decided. [Para 7] The appeal was dismissed accordingly. [para 9]" Respectfully following the judgment of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd that the corresponding satisfaction on the Assessing Officer's part had to be to the effect that the specified incriminating seized material "belongs to" a person other than the searched party. Coupled with this, learned Counsel has already filed a copy of the tribunal's order in M/s. Ashi Plywood Industries is the very search that the Assessing Officer had not recorded a valid satisfaction u/s. 153C as well. We thus follow the judicial consistency to affirm the CIT's identical lower appellate findings in the absence of any distinction on facts and circumstances involved herein. 4. These Revenue's appeals are dismissed in above terms. A copy of this common order be placed in the respective case files. Order pr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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