ITAT Mumbai Upholds Composite Satisfaction u/s 153C; Sustains Partial 69C Addition in Land Deal

Waaneep Solar Private Limited Vs ITO (ITAT Mumbai) ITAT Mumbai Upholds Composite Satisfaction under Section 153C and Sustains Partial Section 69C Addition in Solar Project Land Purchase Case The Mumbai Bench of the ITAT dismissed the appeals of Waaneep Solar Pvt. Ltd. for AYs 2015-16 and 2016-17, upholding both the assumption of jurisdiction under section 153C and the partial addition sustained under section 69C. On the jurisdictional challenge, the assessee contended that proceedings under section 153C were invalid as the Assessing Officer had recorded a single consolidated satisfaction note ...