Property Deal Addition Fails for Breach of Section 153C Time Limits

Rajesh Gandhi Vs Sanghpriya Singh (ITAT Delhi) 153C Addition for Property Deal Quashed as AY 2012-13 Falls Outside Permissible Ten-Year Search Block Based on a seized receipt found in a 2020 search of a third party, the Assessing Officer invoked section 153C and added ₹68 lakh under section 68 for AY 2012-13, alleging unaccounted consideration in sale of a flat by the assessee. Before the Tribunal, the assessee contended that the proceedings were time-barred. Crucially, the Revenue could not produce any satisfaction note under section 153C showing when the seized material was handed over to ...