SC Upholds Quashing of Section 153C Notices Due to Defective Satisfaction Note

Advertisement ACIT Vs Kishore Kumar Sharma (Supreme Court of India) The dispute concerned the validity of notices issued under Section 153C of the Income Tax Act, 1961 for Assessment Years 2014-15 to 2020-21. The challenge before the Delhi High Court was directed against the notices dated 30 June 2022 and all consequential proceedings. The Delhi High Court noted that the Satisfaction Note dated 30 June 2022 recorded by the jurisdictional Assessing Officer (AO) did not refer to any incriminating material for any of the assessment years covered by the notices. The Court observed that while th...