CIT v. Shetty’s Pharmaceuticals & Biologicals Ltd.

57 Taxmann.com 282High Court2015#2797 most cited

What is CIT v. Shetty’s Pharmaceuticals & Biologicals Ltd. authority for?

The Assessing Officer must record satisfaction that seized material belongs to a third party before assuming jurisdiction under Section 153C. Assumption of jurisdiction without recording reasons is invalid.

42

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2018 to 2022.

Also referred to as

CIT v. Shetty's Pharmaceuticals & Biologicals Ltd. · Section 153C · Section 153A · assumption of jurisdiction · satisfaction of AO · seized material · third party

Judgments citing CIT v. Shetty’s Pharmaceuticals & Biologicals Ltd.

Dy.CIT, Central Circle-7, Hyderabad vs. T Rana Pratap Singh & Others (AOP), R.R.Dist

In the result, appeals filed by the Assessees are allowed and the appeals filed by the Revenue are dismissed

ITA 867/HYD/2014[2007-08]Status: DisposedITAT Hyderabad24 Jan 2018AY 2007-08

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahman

For Appellant: Shri Mohd. AfzalFor Respondent: Shri K. Gopala Krishna, DR
Section 132Section 132(1)Section 143(3)Section 153CSection 2(14)

…868 of 2014 T Rana Pratap Singh and others. Sukender Reddy, has quashed the assessment. For coming to this conclusion, the Tribunal has followed the decision of the jurisdictional High Court in the case of CIT vs. Shetty’s Pharmaceuticals & Biologicals Ltd (57 Taxmann.com 282) A.P, wherein the Hon'ble High Court recorded that recording a satisfaction is a pre-condition for invoking the jurisdiction u/s 153C of the Act and in the absence of following such procedures, the assessment u/s 153C deserved to be quashed. 7. In the case before us also, we had directed the production of the assessment record and the lea…

Dy.CIT, Central Circle-7, Hyderabad vs. T Rana Pratap Singh & Others (AOP), R.R.Dist

In the result, appeals filed by the Assessees are allowed and the appeals filed by the Revenue are dismissed

ITA 865/HYD/2014[2003-04]Status: DisposedITAT Hyderabad24 Jan 2018AY 2003-04

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahman

For Appellant: Shri Mohd. AfzalFor Respondent: Shri K. Gopala Krishna, DR
Section 132Section 132(1)Section 143(3)Section 153CSection 2(14)

…868 of 2014 T Rana Pratap Singh and others. Sukender Reddy, has quashed the assessment. For coming to this conclusion, the Tribunal has followed the decision of the jurisdictional High Court in the case of CIT vs. Shetty’s Pharmaceuticals & Biologicals Ltd (57 Taxmann.com 282) A.P, wherein the Hon'ble High Court recorded that recording a satisfaction is a pre-condition for invoking the jurisdiction u/s 153C of the Act and in the absence of following such procedures, the assessment u/s 153C deserved to be quashed. 7. In the case before us also, we had directed the production of the assessment record and the lea…