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| The Tax Publishers2020 TaxPub(DT) 4195 (SC) : (2020) 272 TAXMAN 0181 INCOME TAX ACT, 1961
Section 261 Section 153C
Where the department preferred SLP to appeal against the judgment of Gujarat High Court in Pr. CIT v. Munisuvrat Corporation (R/Tax Appeal No 187 of 2019, dated 23-7-2019) : 2019 TaxPub(DT) 5795 (Guj-HC), whereby the High Court held that it was necessary that before provisions of section 153C can be invoked, AO of searched person must be satisfied that seized material did not belong to the person referred to in section 153A, i.e., the searched person, Supreme Court in case of Calctta Knitwear's [Civil Appeal No. 3958 of 2014, dated 12-3-2014] : 2014 TaxPub(DT) 1547 (SC) had directed that where satisfaction by AO of person searched and other person was not found recorded, Department should not press that matter in Appeal, thus, assessment in assessee's case was held as illegal and void ab initio, the Supreme Court dismissed the SLP.
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Appeal (Supreme Court) - Special leave petition - Search and seizure - Assessment under section 153C--Non-recording of satisfaction by AO under section 153C
Departmednt preferred SLP to appeal against the judgment of Gujarat High Court in Pr. CIT v. Munisuvrat Corporation (R/Tax Appeal No 187 of 2019, dated 23-7-2019) : 2019 TaxPub(DT) 5795 (Guj-HC), whereby the High Court held that it was necessary that before provisions of section 153C can be invoked, AO of searched person must be satisfied that seized material did not belong to the person referred to in section 153A, i.e., the searched person, Supreme Court in case of Calctta Knitwear's [Civil Appeal No. 3958 of 2014, dated 12-3-2014] : 2014 TaxPub(DT) 1547 (SC) had directed that where satisfaction by AO of person searched and other person was not found recorded, Department should not press that matter in Appeal, thus, assessment in assessee's case was held as illegal and void ab initio.Held: The Supreme Court dismissed the SLP.
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