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2015 (12) TMI 1653 - AT - Income TaxAssessment u/s 153C - Held that:- No hesitation in holding that the A.O. of the person searched has not recorded any satisfaction that the income relatable to the seized material belongs to the assessees herein. Therefore, the assessments are quashed. Rectification of mistake - Held that:- Since the very basis i.e., the assessments under section 143(3) read with section 153C of the I.T. Act have been quashed, the order passed by the A.O. u/s. 154 has no legs to stand. Therefore, the appeals against the order of the CIT(A) confirming the order of the A.O. under section 154 are also quashed as having no basis.
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