Proceedings under Section 153C Invalid Without Incriminating Material: Delhi HC

PCIT Vs Victory Apartments Pvt. Ltd. (Delhi High Court) Introduction: The Delhi High Court recently delivered a significant judgment in the case of PCIT vs. Victory Apartments Pvt. Ltd., addressing the validity of proceedings under Section 153C of the Income Tax Act. The appeals involved three assessees for the Assessment Year 2009-10, challenging the order of the Income Tax Appellate Tribunal (ITAT) dated 24.03.2017. Detailed Analysis: 1. Background: The appeals questioned the initiation of proceedings under Section 153C, and a key question framed was whether the initiation was valid and in a...