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HC held that no incriminating material 'relating to' or 'pertaining to' the assessees was found during search on the third party, as the relevant land records were supplied post-search and sale deed details were sourced from the public domain. Such material did not establish a live link or nexus with any undisclosed income of the assessees, rendering the presumption of escaped assessment based on the alleged undervaluation unsustainable. Consequently, the satisfaction recorded u/s 153C was held to be de hors the statute and without jurisdiction. The impugned notices issued u/s 153C were quashed and set aside.
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