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

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 jurisdiction under Sec 153...