Reassessments Quashed Due to Lack of Year-Specific Seized Material: SC

CIT Vs Sinhgad Technical Education Society (Supreme Court of India) The Supreme Court of India dismissed four appeals filed by the Revenue concerning the validity of proceedings initiated under Section 153C of the Income-tax Act, 1961 for Assessment Years 2000-01 to 2003-04. The appeals arose from a common judgment of the High Court dated March 25, 2015, which had upheld the order of the Income Tax Appellate Tribunal (ITAT) quashing the Section 153C notices. The case originated from a search and seizure operation conducted on July 20, 2005, under Section 132 on the president of an educational...