ITAT Quashes U/s 153C Assessments: AO Cannot Simply Copy Satisfaction Note

Manish Dhariwal Vs DCIT (ITAT Jaipur) Jaipur ITAT Quashes U/s 153C Assessments: AO Cannot Simply Copy Satisfaction Note; Sunset Clause Bars Proceedings After 01.04.2021 In a significant ruling, the Jaipur ITAT quashed assessments made under Section 153C against three assessees who were alleged to have paid on-money for purchase of flats in the Royal Palm project. The Tribunal held that the Assessing Officer failed to record a legally valid satisfaction under Section 153C and, in any event, the proceedings were barred by the sunset clause contained in Section 153C(3). The case arose from a sear...