https://www.taxtmi.com/caselaws?id=471040 Section 153C requires a satisfaction note based on seized material that bears on the assessee's income for each relevant assessment year. Where the same material is invoked for multiple years, the note must identify the material and demonstrate its incriminating nexus with escaped income for every year concerned. A consolidated note referring generally to unrecorded cash transactions, without year-wise identification of seized material or linkage to escaped income, fails the statutory requirement. Such satisfaction is arbitrary, rendering the resulting section 153C assessments legally invalid and liable to be quashed. en-us Tue, 01 Apr 2025 00:00:00 +0530 Tue, 18 Aug 2026 21:39:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471040 Section 153C requires a satisfaction note based on seized material that bears on the assessee's income for each relevant assessment year. Where the same material is invoked for multiple years, the note must identify the material and demonstrate its incriminating nexus with escaped income for every year concerned. A consolidated note referring generally to unrecorded cash transactions, without year-wise identification of seized material or linkage to escaped income, fails the statutory requirement. Such satisfaction is arbitrary, rendering the resulting section 153C assessments legally invalid and liable to be quashed. Case-Laws Income Tax Tue, 01 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471040