Addition set aside as satisfaction note required for invoking section 153C invalid

Social Realtors (P) Ltd. Vs ACIT (ITAT Delhi)

ITAT Delhi held that in the satisfaction note AO failed to narrate specific documents which has been replied upon for initiating action under section 153C of the Income Tax Act. Accordingly, appeal allowed since essential element for invoking provision of section 153C found missing.

Facts- A search and seizure operation u/s 132 of Income Tax Act, 1961 was conducted on 21/07/2016 at the residential premises of M3M Group of cases. Among the documents seized contained information pertaining to the Assessee and AO re

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