https://www.taxtmi.com/caselaws?id=339605 The case involved a dispute over compliance with Section 153C of the Income Tax Act, 1961. The ITAT found the satisfaction note recorded by the Assessing Officer to be defective and held that the seized material did not belong to the assessee. The CIT (A) upheld the assessment, but the ITAT sided with the assessee, emphasizing the lack of evidence linking the seized material to the assessee. The Court, however, considered the totality of the Director's statement and ruled in favor of the Revenue, setting aside the ITAT's decision and ordering a review of the assessee's appeal. en-us Fri, 03 Feb 2017 00:00:00 +0530 Tue, 01 Aug 2017 10:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339605 The case involved a dispute over compliance with Section 153C of the Income Tax Act, 1961. The ITAT found the satisfaction note recorded by the Assessing Officer to be defective and held that the seized material did not belong to the assessee. The CIT (A) upheld the assessment, but the ITAT sided with the assessee, emphasizing the lack of evidence linking the seized material to the assessee. The Court, however, considered the totality of the Director's statement and ruled in favor of the Revenue, setting aside the ITAT's decision and ordering a review of the assessee's appeal. Case-Laws Income Tax Fri, 03 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339605