ITAT Delhi Quashes Section 153C Proceedings for Consolidated Satisfaction & Mechanical Approval

Advertisement Alankit Insurance TPA Ltd. Vs DCIT (ITAT Delhi) ITAT Delhi Quashes Sec 153C Proceedings – Consolidated Satisfaction & Mechanical Sec 153D Approval Held Invalid In Alankit Insurance TPA Ltd. (AYs 2013-14 to 2020-21), the ITAT Delhi partly allowed the assessee’s appeals by quashing proceedings initiated u/s 153C. The Tribunal observed that the Assessing Officer recorded only a consolidated satisfaction note without demonstrating how seized material from the searched persons pertained to or had any bearing on the assessee’s income, which is mandatory for valid jurisdict...