https://www.taxtmi.com/caselaws?id=253713 The Tribunal invalidated the initiation of proceedings under Section 153C due to the lack of valid satisfaction recorded by the Assessing Officer of the person searched. Notices issued for AY 2003-04 and 2004-05 were deemed time-barred. Additionally, the Tribunal upheld the deletions of additions under Section 69C, sales considered as income from undisclosed sources, disallowance of expenses, and depreciation. It was concluded that statements not confronted to the assessee held no evidentiary value. The assessee's legal ground was allowed, resulting in the quashing of notices and assessments, while the revenue's grounds were dismissed. en-us Fri, 14 Nov 2014 00:00:00 +0530 Thu, 18 Jun 2026 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253713 The Tribunal invalidated the initiation of proceedings under Section 153C due to the lack of valid satisfaction recorded by the Assessing Officer of the person searched. Notices issued for AY 2003-04 and 2004-05 were deemed time-barred. Additionally, the Tribunal upheld the deletions of additions under Section 69C, sales considered as income from undisclosed sources, disallowance of expenses, and depreciation. It was concluded that statements not confronted to the assessee held no evidentiary value. The assessee's legal ground was allowed, resulting in the quashing of notices and assessments, while the revenue's grounds were dismissed. Case-Laws Income Tax Fri, 14 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253713