Pure Legal Grounds Allowed to Quash Time-Barred U/s 153C Assessments

Jagdamba Petroleum India Vs DCIT (ITAT Delhi) Undated Satisfaction Note Is Fatal: ITAT Delhi Quashes 153C Assessments as Time-Barred  Delhi  the ITAT  quashed the assessments framed u/s 153C on the ground of limitation and lack of jurisdiction. The proceedings were initiated pursuant to a third-party search on 15-01-2021. The Assessee raised additional legal grounds contending that both the satisfaction note of the searched person as well as that of the Assessee were undated, and that there was no evidence on record regarding the date of handing over of seized material by the AO of the sear...