therefore, the AO
before issuance of notice u/s 153C has recorded satisfaction with
reference to books of accounts and other materials found during ... 153C of the
Act, before issue of notice u/s 153C dated 11/08/2008. In fact, the Ld. DR
furnished copy of satisfaction note
findings with respect to no proper recording of the
satisfaction under section 153C of the I.T. Act may be set
aside and matter ... Paper
Book viz. Satisfaction Note dated 5.7.2010, the
same is reproduced here-below:-
"Satisfaction Note for issuing notice u/s.
153C
therefore, the
AO before issuance of notice u/s 153C has recorded satisfaction with reference to
books of accounts and other materials found during ... 153C of
the Act, before issue of notice u/s 153C dated 11/08/2008. In fact, the Ld. DR
furnished copy of satisfaction note
belong to some other person. Also see Proforma for recording
satisfaction under Sec. 153C of the assessment order of the searched
party. In this proforma ... satisfaction was recorded. The words "I am
satisfied" does not meet the requirement of the concept of satisfaction
as used in Sec. 153C
contents of the satisfaction note, we are
unable to discern any "satisfaction" of the kind required under
Section 153C of the said ... satisfaction note enclose with his notice is
unsigned, there is no^mention of date of satisfaction
and the assessment year, while the satisfaction
153C have
been issued. However, in the notice u/s 153C , wherein the
Assessing Officer is claimed to have been recorded the satisfaction
for issue ... contents of the satisfaction note, we are unable to discern any
"satisfaction" of the kind required under Section 153C of the said
this
satisfaction must be an objective satisfaction based on an enquiry by the AO to establish
that the documents referred to in section 153C which ... 153C is invalid as the basic condition for issuing of
notice u/s. 153C is not satisfied as no satisfaction has been recorded
ones relied upon to arrive at the satisfaction for invoking
proceedings under section 153C of the Act. According to the learned AR, though
the powers ... reckoned as Assessment Year 2015-16 as the satisfaction to
initiate proceedings under section 153C of the Act was arrived
specifically taken the ground of non
recording of satisfaction u/s 153C of the Act. It was submitted that since
the ground raised ... Assessing Officer to
withdraw the appeals u/s 158BD / 153C where the satisfaction u/s
158BD / 153C were not recorded. For the sake of completeness
section 153C of the Act. In this regard, we find it pertinent to refer the
provisions of section 153C of the Act;
"153C ... instant case, prior to issuing notice under section
153C . Only in the notice under section 153C , satisfaction is claimed to have
been recorded
