Acquiring jurisdiction u/s 153C without satisfaction note is unsustainable in law

Smt. L. Ammini Vs ACIT (ITAT Chennai) ITAT Chennai held that acquiring jurisdiction u/s 153C of the Income Tax Act without fulfilling the requirement of satisfaction note in case of searched person is unsustainable and liable to be quashed. Facts- A search was conducted by the department at residential premises of one Shri Madanlal D. Chawla of Salem. During the search, a copy of Sale Agreement was found which was entered into between Shri Sanjay M. Chawla s/o Shri Madanlal D. Chawla and the assessee. The document was seized. Upon perusal of this document, AO arrived at a conclusion that real ...