PCIT v. Munisuvrat Corporation (2020) 115 taxmann.com 264 (Guj.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. Munisuvrat Corporation (2020) 272 Taxman 181 (SC)

S. 153C : Assessment-Income of any other person-Search-Not recording satisfaction-Order is illegal and void ab initio. [S. 132, 143 (3)]

Dismissing the appeal of the revenue the Court held that the Assessing officer of person searched did not record satisfaction that item referred to in section 153C belonged to a person other than person searched, assessment order passed in case of assessee was illegal and void ab initio Order of Tribunal is up held. (AY. 2011-12)