ITAT quashes IT assessments u/s 153C for 5 years due to invalid 'satisfaction note'.

ITAT held that assessment framed u/s 153C for AY 2011-12 is barred by limitation and vitiated due to lack of valid 'satisfaction note', rendering entire proceedings under s. 153C a non-starter. For AYs 2012-13 to 2015-16, ITAT found legal infirmities in 'satisfaction note' lacking objectivity, vitiating assumption of jurisdiction u/s 153C. Resultant assessment orders passed u/s 153C for these AYs were quashed being non-est. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X