https://www.taxtmi.com/caselaws?id=259671 The Tribunal invalidated the proceedings under Section 153C of the Income Tax Act due to the absence of recorded satisfaction by the Assessing Officer (AO) of the searched person. Regarding the addition of Rs. 3 crores as undisclosed income, the Tribunal found that the AO did not conduct sufficient inquiries to substantiate the addition, leading to the allowance of the assessee's appeal. The Tribunal emphasized the necessity for the AO to establish clear satisfaction before initiating proceedings under Section 153C. The order was issued on 24th April 2015. en-us Fri, 24 Apr 2015 00:00:00 +0530 Mon, 18 May 2015 07:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259671 The Tribunal invalidated the proceedings under Section 153C of the Income Tax Act due to the absence of recorded satisfaction by the Assessing Officer (AO) of the searched person. Regarding the addition of Rs. 3 crores as undisclosed income, the Tribunal found that the AO did not conduct sufficient inquiries to substantiate the addition, leading to the allowance of the assessee's appeal. The Tribunal emphasized the necessity for the AO to establish clear satisfaction before initiating proceedings under Section 153C. The order was issued on 24th April 2015. Case-Laws Income Tax Fri, 24 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259671