https://www.taxtmi.com/caselaws?id=466985 For tax proceedings under section 153C, a recorded satisfaction must identify a year specific nexus between seized material and determination of total income; a consolidated satisfaction note covering multiple assessment years without such year wise linkage vitiates assumption of jurisdiction and renders resultant search assessments invalid. Separately, a loan advanced to the assessee was supported by lender registration, audited accounts, bank records, ledger entries and repayments; on that basis the receipt is not an unexplained credit under section 68, interest claimed is allowable and alleged commission additions under section 69C cannot be sustained, yielding partial allowance of the appeals in favour of the assessee. en-us Tue, 13 Jan 2026 00:00:00 +0530 Fri, 27 Feb 2026 18:27:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466985 For tax proceedings under section 153C, a recorded satisfaction must identify a year specific nexus between seized material and determination of total income; a consolidated satisfaction note covering multiple assessment years without such year wise linkage vitiates assumption of jurisdiction and renders resultant search assessments invalid. Separately, a loan advanced to the assessee was supported by lender registration, audited accounts, bank records, ledger entries and repayments; on that basis the receipt is not an unexplained credit under section 68, interest claimed is allowable and alleged commission additions under section 69C cannot be sustained, yielding partial allowance of the appeals in favour of the assessee. Case-Laws Income Tax Tue, 13 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466985