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Defective Satisfaction Note Vitiates Income Tax Assessment u/s 153C: ITAT Quashes ₹4.89 Crore Additions [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Delhi Bench, quashed an addition of ₹4.89 crore as unexplained credits and...

Income Tax Section 153C Notices Time-Barred When Computed From Satisfaction Note Date: Delhi HC...

Satisfaction Note without Date Supplied to Petitioner after 2 years : Gujarat HC Quashes Notice u/s...

Satisfaction Note Lacked Reference of Income Escapement in the Form of Assets Worth ₹50 Lacs: ITAT...

Gujarat HC Quashes S. 153C Income Tax Notices for Lack of Incriminating Material Linking Petitioner...

No Transfer Order from Delhi AO to Jaipur AO: ITAT Quashes 153C Assessment for Lack of Territorial Jurisdiction [Read Order]

The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) quashed the assessment framed under Section 153C of the Income Tax Act, 1961, holding that the Assessing Officer (AO) in Jaipur had no...

AO Erred by Recording Consolidated Satisfaction Note for Multiple AY's: ITAT Quashes S.153C Assessment [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) quashed the assessment orders passed under Section 153C for the Assessment Years (AY) 2015-16 and 2016-17, on the fundamental legal ground...

Delhi HC Reaffirms 10-Year Limit u/s 153C, Quashes Income Tax Notices [Read Order]

The Delhi High Court has quashed income tax reassessment notices issued against Ramaa Advisors Private Limited, holding them to be barred by the mandatory ten-year limitation period under...

Time-Barred and Vague Satisfaction Note: ITAT Quashes Assessments Beyond Six-Year Limit u/s 153C [Read Order]

In a consolidated ruling covering multiple assessment years, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has invalidated reassessments initiated under Section 153C of the Income Tax...

Conduit Companies Cannot be Taxed without Proof of Income: Delhi HC Deletes Commission Income Additions on Alleged Accommodation Entry [Read Order]

The Delhi High Court ruled that entities functioning merely as conduit companies in accommodation entry arrangements cannot be subjected to tax on presumed commission income without proof of...

Block Assessments Invalid Due to Defective Satisfaction Note: ITAT Quashes S.153C Proceedings in Income Tax Case [Read Order]

The bench of the Income Tax Appellate Tribunal (ITAT), Delhi examining the jurisdiction to frame search-based assessments under Section 153C of the IncomeTax Act, 1961, held that the initiation of...

Delhi HC Upholds Order sets aside Income Tax Notice issued u/s 153C Beyond Six years [Read Order]

In a recent case, the Delhi High Court upheld the order which set aside the notice issued under section 153C of the IncomeTax Act, 1961 , beyond six years. It was viewed that the substantial...