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2015 (3) TMI 885 - AT - Income TaxValidity of assessment framed u/s 153C read with Section 143(3) - whether is a nullity in the eyes of law for want of satisfaction recorded by the A.O. of the searched party? - Held that:- As decided in Pepsi Foods (P) Ltd. [2014 (8) TMI 425 - DELHI HIGH COURT] recording of satisfaction by AO of searched persons is a necessary pre condition for initiation of proceeding u/s 153C. As in the present case the revenue has not placed any satisfaction recorded by the A.O. of the searched persons on record pertaining to Assessment Years 2003-04 to 2008-09. Therefore, in the absence of such satisfaction by the A.O. of the searched persons, the assessment framed by invoking the provisions of Section153C cannot be sustained. Accordingly, the assessment orders pertaining to assessment years 2003-04 to 2008-09 are hereby quashed. - Decided in favour of assessee.
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