Section 153C(1): Hand‑Over Date in Satisfaction Note Deemed Receipt Date for Limitation Purposes

Carol Infrastructure Private Limited Vs ACIT (Delhi High Court) Delhi High Court has invalidated a notice issued under Section 153C of the Income Tax Act, 1961, against Carol Infrastructure Private Limited for the Assessment Year (AY) 2015-16. The court determined that the time limit for completing the assessment for that year had expired before the petition challenging the notice was filed, rendering the proceedings time-barred. The case stems from a search and seizure operation conducted under Section 132 of the Act on October 18, 2019, involving entities belonging to the Alankit Group. Subs...