https://www.taxtmi.com/caselaws?id=756811 Section 153C requires a valid recorded satisfaction that seized material belongs to, pertains to, or relates to a person other than the searched person before jurisdiction can be assumed. Here, the order-sheet note did not identify any specific seized material linking the searched group to the assessee, so the jurisdictional prerequisite was not met and the assessments were quashed. Once the quantum assessments failed for want of jurisdiction, the consequential penalty proceedings under section 271AAA could not survive because they depended entirely on the validity of the underlying assessments. The penalty orders were therefore also quashed. en-us Tue, 30 Jan 2024 00:00:00 +0530 Fri, 09 Aug 2024 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756811 Section 153C requires a valid recorded satisfaction that seized material belongs to, pertains to, or relates to a person other than the searched person before jurisdiction can be assumed. Here, the order-sheet note did not identify any specific seized material linking the searched group to the assessee, so the jurisdictional prerequisite was not met and the assessments were quashed. Once the quantum assessments failed for want of jurisdiction, the consequential penalty proceedings under section 271AAA could not survive because they depended entirely on the validity of the underlying assessments. The penalty orders were therefore also quashed. Case-Laws Income Tax Tue, 30 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756811