ITAT Quashes Section 153C Assessments As AO Recorded Improper Satisfaction

Bhartiya International Ltd. Vs DCIT (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi, allowed appeals filed for Assessment Years 2018-19 and 2019-20 challenging assessments framed under Section 153C read with Section 143(3) of the Income Tax Act. The assessees argued that the assessments were invalid because the Assessing Officer had failed to record proper satisfaction as required under Section 153C. The dispute arose after a search under Section 132 was conducted in the cases of M/s K.K. Spun Group on 23.03.2021. Following the search, the departmental authorities recorded satisfa...