14, 15 TXA 2 & 3 of 2025.docx Meena IN THE HIGH COURT OF BOMBAY AT GOA TAX APPEAL NO. 2 OF 2025 WITH TAX APPEAL NO. 3 OF 2025 THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE- I (1) …. APPELLANT VERSUS M/S. GOLDEN PEACE INFRASTRUCTURE PVT. LTD. ….RESPONDENT Ms. Susan Linhares, Standing Counsel for the Appellants. Mr. Tanveer Singh with Ms. Amrita Dimri, Advocates for the Respondent. CORAM:- VALMIKI MENEZES & AMIT S. JAMSANDEKAR, JJ. DATED :- 22nd SEPTEMBER, 2026 P.C.: 1. hese appeals under Section 260A of the Income Tax Act are iled by the Revenue. he substantial questions of law which are pressed forth seeking admission of these appeals are as follows: I. Whether in the facts and circumstances, the ITAT's Order is sustainable in law when the jurisdictional requirement of recording satisfaction by the Assessing Oicer stood duly complied with and the Assessing Oicer had validly assumed jurisdiction under section 153C of the Income Tax Act upon 22nd September, 2026 14, 15 TXA 2 & 3 of 2025.docx recording the requisite satisfaction regarding the seized material belonging to the Respondent? II. Whether the indings of the ITAT are perverse in law in ignoring the material evidence demonstrating that the mandatory satisfaction under section 153C was properly recorded by the Assessing Oicer? 2. We have perused the order of the Commission of Income Tax (Appeals) dated 28.02.2024, and note that the First Appellate Authority has given detailed indings on facts holding that the material sought to be pressed as incriminating material against the Respondent cannot be considered to be incriminating the Respondent in terms of Section 153(c) of the Act. he material sought to be held as incriminating were a pen drive containing some accounts and two statements of purported employees of the Respondent. he Appellate Authority on considering the material before the Assessment Oicer has given a categorical inding that the pen drive did not contain any incriminating material for the purpose of concluding that the additions made by them was necessary; it has given a further inding that, of the two employees one was admittedly not an employee of the Respondent, while the other has not made any statement that speciically incriminates the Respondent, the Assessee. 3. he aforementioned indings on re-assessment have been conirmed by the Income Tax Appellate Tribunal. he Tribunal has considered the provisions of Section 153C of the Act and its 22nd September, 2026 14, 15 TXA 2 & 3 of 2025.docx requirements and after applying its provisions and considering the indings of the First Appellate Authority has arrived at a concurrent indings of fact. 4. After considering the substantial questions of law proposed we are of the opinion that there is in fact no substantial questions raised by the Revenue, as concurrent indings of the fact by two Appellate Authorities are same. 5. Consequently, we dismiss these appeals. AMIT S. JAMSANDEKAR, J VALMIKI MENEZES, J. 22nd September, 2026 Signed by: MEENA VISHAL BHOIR Designation: Private Secretary Date: 23/09/2026 12:13:38