https://www.taxtmi.com/caselaws?id=274915 The appeal challenged the initiation of proceedings under section 153C of the I.T. Act and the addition of Rs. 9,15,000. The Tribunal ruled in favor of the assessee, citing precedents where similar issues were decided in favor of the assessee. The Tribunal found that the initiation of proceedings under section 153C was invalid due to improper recording of the satisfaction note. Consequently, the proceedings under section 153C were quashed, and the addition made by the Assessing Officer was deleted. The appeal of the assessee was allowed, setting aside the orders of the lower authorities. en-us Fri, 04 Sep 2015 00:00:00 +0530 Tue, 11 Sep 2018 08:08:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274915 The appeal challenged the initiation of proceedings under section 153C of the I.T. Act and the addition of Rs. 9,15,000. The Tribunal ruled in favor of the assessee, citing precedents where similar issues were decided in favor of the assessee. The Tribunal found that the initiation of proceedings under section 153C was invalid due to improper recording of the satisfaction note. Consequently, the proceedings under section 153C were quashed, and the addition made by the Assessing Officer was deleted. The appeal of the assessee was allowed, setting aside the orders of the lower authorities. Case-Laws Income Tax Fri, 04 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274915