Section 153C Assessments Quashed for Consolidated Satisfaction Note

Vidur Chharia Vs DCIT/ACIT (ITAT Delhi) ITAT Delhi Quashes Section 153C Assessments for Consolidated Satisfaction Note & Absence of Incriminating Material The Delhi Bench of the ITAT allowed the appeals of Vidur Chharia, Rakesh Chharia & Sons (HUF) and Pole-Ads Advertising Pvt. Ltd. for AY 2017-18, holding that the assumption of jurisdiction under section 153C was legally unsustainable. The Tribunal found that the Assessing Officer recorded a single consolidated satisfaction note covering multiple assessment years (AYs 2014-15 to 2020-21) instead of recording year-specific satisfaction...