Assessments Quashed for Invalid Section 153C Satisfaction Note

Sh. Ram Ready Mix Concrete Pvt. Ltd. Vs DCIT (ITAT Delhi) Invalid Section 153C Satisfaction Note Renders Search Assessments Void: ITAT Delhi Quashes Assessments of Ready-Mix & Cement Firms The Delhi Bench of the ITAT allowed seven appeals filed by Shri Ram Ready Mix Concrete Pvt. Ltd. and Kamdhenu Cement, quashing assessments framed under section 153C read with section 143(3) for AYs 2018-19 to 2022-23. The Tribunal held that the very foundation of the proceedings—the satisfaction note recorded by the Assessing Officer of the searched person—was legally defective and failed to meet the...