Wrong Satisfaction Note Invalidates Section 153C Proceedings Entirely

Umaya Developers Pvt. Ltd. Vs DCIT (ITAT Bangalore) Wrong Satisfaction, Wrong Material: 153C Can’t Travel Beyond Satisfaction Note- Bangalore ITAT Quashes 153C & Penalty Loose Sheets from Third Party ≠ Basis for 153C: Entire Assessment Collapses- Consolidated Satisfaction Note Is Fatal: ITAT Applies Sunil Kumar Sharma (HC) Bangalore ITAT “B” Bench, in Umaya Developers Pvt. Ltd. Vs DCIT (ITA Nos. 1476 & 1477/Bang/2025, AY 2017-18; order dated 29.12.2025), quashed the assessment framed u/s 143(3) r.w.s. 153C & consequential penalty u/s 270A, holding that the very foundation o...