https://www.taxtmi.com/caselaws?id=268047 The Tribunal dismissed all appeals by the Revenue, upheld the CIT(A)'s order on deletion of additions under Section 69C and disallowance of expenses, and quashed the assessment under Section 153C due to lack of jurisdiction and non-compliance with legal requirements. The Tribunal emphasized that when purchases are duly accounted for, Section 69C does not apply, and no incriminating material was found during the search. Additionally, it ruled that satisfaction must be recorded before issuing notices under Section 153C, following precedents set by the High Court. en-us Fri, 09 Oct 2015 00:00:00 +0530 Thu, 19 Nov 2015 06:39:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268047 The Tribunal dismissed all appeals by the Revenue, upheld the CIT(A)'s order on deletion of additions under Section 69C and disallowance of expenses, and quashed the assessment under Section 153C due to lack of jurisdiction and non-compliance with legal requirements. The Tribunal emphasized that when purchases are duly accounted for, Section 69C does not apply, and no incriminating material was found during the search. Additionally, it ruled that satisfaction must be recorded before issuing notices under Section 153C, following precedents set by the High Court. Case-Laws Income Tax Fri, 09 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268047