Validity of assessment u/s 153C - There is no prohibition in the ...

Recording Combined Satisfaction Note Allowed u/s 153C; 2008-09 Assessment Year Excluded from Scope.

August 31, 2022

Case Laws Income Tax AT

Validity of assessment u/s 153C - There is no prohibition in the Act that a combined satisfaction-note should not be recorded. Moreover, the satisfaction- note, is recorded by Assessing Officer after fifteen months and thirteen days, which is normal time the Department takes to issue satisfaction-note - Since the satisfaction note is recorded on 13.01.2015, which pertains to assessment year 2015-16. Therefore, six previous assessment years for the purpose of assessment under section 153C of the Act, would be assessment years: 2014-15, 2013-14, 2012-13, 2011-12, 2010-11 and 2009-10. Therefore, assessment year 2008-09 should be excluded from the ambit of section 153C of the Act. - AT

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Validity of assessment u/s 153C - There is no prohibition in the ...

Recording Combined Satisfaction Note Allowed u/s 153C; 2008-09 Assessment Year Excluded from Scope.

August 31, 2022

Case Laws Income Tax AT

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