We have investigated Fe substituted versions of the quasicrystalline (qc) alloy corresponding to Al 65 Cu 20 (Cr, Fe) 15 with special reference to the possible occurrence of various quasicrystalline and related phases. Based on the explorations of various compositions it has been found that alloy compositions Al 65 Cu 20 Cr 12 Fe 3 and Al 65 Cu 20 Cr 9 Fe 6 exhibit interesting structural phases and features at different quenching rates. At higher quenching rates (wheel speed ~ 25 m/sec) all the alloys exhibit icosahedral phase. For Al 65 Cu 20 Cr 12 Fe 3 alloy, however, both the icosahedral and even the decagonal phases get formed at higher quenching rates. At higher quenching rate, alloy having Fe 3 at% exhibits two bcc phases, bccI (a = 8⋅ ⋅9 Å) and bccII (a = 15⋅ ⋅45 Å). The orientation relationships between icosahedral and crystalline phases are: Mirror plane || [001] bcc I and [351] bcc II , 5-fold || [113] bcc II and 3-fold || [110] bcc II. At lower quenching rate, the alloy having Fe 6 at% exhibits orthorhombic phase (a = 23⋅ ⋅6 Å, b = 12⋅ ⋅4 Å, c = 20⋅ ⋅1 Å). Some prominent orientation relationships of the orthorhombic phase with decagonal phase have also been reported. At lower quenching rate (~ 10 m/sec), the alloy (Al 65 Cu 22 Cr 9 Fe 6) shows the presence of diffuse scattering of intensities along quasiperiodic direction of the decagonal phase. For making the occurrence of the sheets of intensities intelligible, a model based on the rotation and shift of icosahedra has been put forward.