https://www.taxtmi.com/caselaws?id=775731 The ITAT Chandigarh allowed the assessee's appeal, quashing the assessment framed under section 147. The tribunal held that since the material against the assessee was found during a search on a partner, the assessment should have been framed under section 153C, which mandates recording of a satisfaction note. The absence of such a note rendered the assessment invalid. The tribunal emphasized that sections 153A to 153C override the applicability of section 147 in such cases, and relying on the Supreme Court precedent, the assessment order was set aside. en-us Tue, 15 Jul 2025 00:00:00 +0530 Wed, 30 Jul 2025 08:21:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775731 The ITAT Chandigarh allowed the assessee's appeal, quashing the assessment framed under section 147. The tribunal held that since the material against the assessee was found during a search on a partner, the assessment should have been framed under section 153C, which mandates recording of a satisfaction note. The absence of such a note rendered the assessment invalid. The tribunal emphasized that sections 153A to 153C override the applicability of section 147 in such cases, and relying on the Supreme Court precedent, the assessment order was set aside. Case-Laws Income Tax Tue, 15 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775731