ITAT Quashes Section 153C Assessments as Block Period Must Be Counted From Satisfaction Date

Advertisement DCIT Vs Excel Insurance Outsourcing Pvt. Ltd. (ITAT Delhi) The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) dismissed two appeals filed by the Revenue against the order of the Principal Commissioner of Income Tax (Appeals) pertaining to Assessment Years (AYs) 2010-11 and 2011-12. The dispute concerned the validity of assessments framed under Sections 153C read with 144 of the Income-tax Act, 1961, and the determination of the relevant block period applicable to a non-searched person. The Assessing Officer initiated proceedings under Section 153C against the assessee...