https://www.taxtmi.com/caselaws?id=755482 The ITAT Chennai held that the AO lacked jurisdiction to assess income under section 153C as the satisfaction note was based on material found during survey in the assessee's own case, not from a search of another person. The mandatory condition for invoking section 153C was not satisfied. The assessment order under section 144 read with section 153C was deemed illegal and unsustainable. The ITAT also found the AO erred in making additions under section 69B for alleged on-money payments without proper examination of available documents, passing the assessment without application of mind. The appeal was decided against the revenue. en-us Wed, 24 Jan 2024 00:00:00 +0530 Fri, 12 Jul 2024 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755482 The ITAT Chennai held that the AO lacked jurisdiction to assess income under section 153C as the satisfaction note was based on material found during survey in the assessee's own case, not from a search of another person. The mandatory condition for invoking section 153C was not satisfied. The assessment order under section 144 read with section 153C was deemed illegal and unsustainable. The ITAT also found the AO erred in making additions under section 69B for alleged on-money payments without proper examination of available documents, passing the assessment without application of mind. The appeal was decided against the revenue. Case-Laws Income Tax Wed, 24 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755482