Tag: satisfaction u/s 153C

Where proceedings u/s 153C are barred by limitation, AO can not reopen the case invoking section 148 and 148A of the Act – ITAT In a recent judgment, ITAT Agra has held that where proceedings u/s 153C were barred by limitation, AO can not take recourse was reopen …

Satisfaction Note u/s 153C – term “immediate” cannot be extended to defeats the purpose of cost effective, efficient and expeditious completion of search assessments. In a recent judgment the Hon’ble Supreme Court dismissed the SLP of the Revenue against the judgment of the High Court holding that the …

Satisfaction note u/s 153C should be prepared for each Assessment Year mentioning the documents seized in respect of each AY. In a recent judgment, ITAT Bangalore has held that the satisfaction note should be prepared for each Assessment Year mentioning the documents seized in respect of each A.Y. …

Reassessment quashed as AO issued u/s 148 instead of 153C as reopening was based on incriminating material found during search In a recent judgment, ITAT Pune has quashed the reassessment order as Assessing Officer (AO) should have issued notice u/s 153C instead of notice u/s 148 since the …

Notice u/s 143(2) send by email fifty seconds before signing by the Assessing Officer was not a legal notice – ITAT In a recent judgment, ITAT Jaipur quashed the assessment holding that notice under section 143(2) send by email fifty seconds before signing of notice by the Assessing …

Recording consolidated satisfaction note for various assessment years is fatal to the very assumption of jurisdiction under section 153C – ITAT In a recent judgment, ITAT Delhi has held that recording consolidated satisfaction note for various assessment years instead of recording independent and individual satisfaction note for each …

Assessment made u/s 143(3) despite AY comprised in block period under satisfaction note recorded u/s 153C was void ab initio – ITAT In a recent judgment, ITAT Delhi has held that assessment completed u/s 143(3) despite satisfaction note recorded u/s 153C for the Assessment Year comprised in block …

Incriminating material has to be identified with respect to each Assessment Year before proceeding u/s 153C – Department’s SLP dismissed In a recent judgment, Hon’ble Supreme Court has dismissed the SLP against the judgment of the Delhi High Court in holding that “incriminating material” would have to be …

Assessment u/s 147 on the basis of seized material found during search of third party void ab-initio – ITAT In a recent judgment, ITAT has quashed the re-assessment order passed u/s 147 holding that when incriminating material is seized belonging to person other than searched, assessment has to …

Amendment to Section 153C vide Finance Act, 2015 applicable to searches conducted u/s 132 before 01.06.2015 – Supreme Court ABCAUS Case Law Citation:ABCAUS 3698 (2023) (04) SC Important Case Laws relied upon by parties:Pepsico India Holdings Private Limited Vs. Assistant Commissioner of Income Tax, 2014 SCC OnLine Del …