https://www.taxtmi.com/caselaws?id=786772 Section 153C jurisdiction requires a proper, contemporaneous satisfaction note with a clear year-wise nexus between seized material and the alleged escapement of income; a consolidated or mechanical note covering multiple years is insufficient. Here, loose sheets recovered from a third party were not independently corroborated to show actual cash loans or repayments attributable to the assessee, so the reassessment initiation under section 153C was held invalid and the assessment orders unsustainable. Because jurisdiction itself failed, the merits of the additions under section 69A were not examined, and those additions were left open. en-us Wed, 22 Oct 2025 00:00:00 +0530 Thu, 19 Feb 2026 07:58:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786772 Section 153C jurisdiction requires a proper, contemporaneous satisfaction note with a clear year-wise nexus between seized material and the alleged escapement of income; a consolidated or mechanical note covering multiple years is insufficient. Here, loose sheets recovered from a third party were not independently corroborated to show actual cash loans or repayments attributable to the assessee, so the reassessment initiation under section 153C was held invalid and the assessment orders unsustainable. Because jurisdiction itself failed, the merits of the additions under section 69A were not examined, and those additions were left open. Case-Laws Income Tax Wed, 22 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786772