https://www.taxtmi.com/caselaws?id=420362 The tribunal dismissed the Revenue's appeals, affirming that the assessment orders under section 153C were invalid due to the absence of a valid satisfaction recorded by the Assessing Officer. The decision highlighted the necessity of showing seized material belonging to a person other than the searched party, with the failure to record such satisfaction leading to the assessment orders being quashed. Compliance with statutory requirements and judicial precedents in invoking section 153C of the Income Tax Act, 1961 was emphasized. en-us Mon, 21 Mar 2022 00:00:00 +0530 Fri, 01 Apr 2022 08:33:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420362 The tribunal dismissed the Revenue's appeals, affirming that the assessment orders under section 153C were invalid due to the absence of a valid satisfaction recorded by the Assessing Officer. The decision highlighted the necessity of showing seized material belonging to a person other than the searched party, with the failure to record such satisfaction leading to the assessment orders being quashed. Compliance with statutory requirements and judicial precedents in invoking section 153C of the Income Tax Act, 1961 was emphasized. Case-Laws Income Tax Mon, 21 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420362