https://www.taxtmi.com/caselaws?id=285786 The Tribunal quashed the notice issued under Section 153C of the Income Tax Act, 1961, and canceled the consequent assessment made under Section 143(3) r.w.s. 153C. The Tribunal emphasized the mandatory requirement of recording satisfaction in the case of the searched person, even if the Assessing Officer is the same for both parties. As a result, the merits of the additions confirmed by the Commissioner of Income Tax (Appeals) were not adjudicated upon. The stay application for the demand of Rs. 1,01,01,761/- was dismissed as the primary issue of the notice's validity was resolved. en-us Wed, 26 Jun 2019 00:00:00 +0530 Sun, 26 Jan 2020 08:27:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285786 The Tribunal quashed the notice issued under Section 153C of the Income Tax Act, 1961, and canceled the consequent assessment made under Section 143(3) r.w.s. 153C. The Tribunal emphasized the mandatory requirement of recording satisfaction in the case of the searched person, even if the Assessing Officer is the same for both parties. As a result, the merits of the additions confirmed by the Commissioner of Income Tax (Appeals) were not adjudicated upon. The stay application for the demand of Rs. 1,01,01,761/- was dismissed as the primary issue of the notice's validity was resolved. Case-Laws Income Tax Wed, 26 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285786