Held that the Assessing Officer had not identified and correlated the seized material for the determination of the total income of the assessees, for the relevant assessment years for which satisfaction is purported to have arrived at, the satisfaction recorded by the AO for the purpose of S. 153C for the said assessment years cannot be considered to be a bona fide and legally valid satisfaction and, therefore, the consequential assessment orders passed under S. \u00a0153C are ab initio void in the absence of valid jurisdiction to pass the said orders; once the assessment orders are ab initio void, said invalid orders cannot be subjected to revision under S. 263 and therefore, the order passed by the Principal CIT under s. 263 is not sustainable.(AY. 2017-18, 2018-19)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 263: Commissioner-Revision of orders prejudicial to revenue-
\nAssessment order passed pursuant to invalid satisfaction note-PCIT was not empowered to revise the assessment orders by relying on seized documents in respect of which the AO did not record any satisfaction in the satisfaction note-The assessment orders are ab initio void-Invalid orders cannot be subjected to revision-The order passed by the Principal CIT is not sustainable-The revision order was quashed and set aside. [S. 153C] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-61768","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-g4g","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=61768"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61768\/revisions"}],"predecessor-version":[{"id":61769,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61768\/revisions\/61769"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=61768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=61768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=61768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}