Assessment u/s 143(3) r.w.s. 153C of the Income Tax Act

Last updated: 18 August 2021
Quick Summary
The Income Tax Appellate Tribunal has allowed appeals filed by assessees, quashing assessment proceedings initiated under Section 153C of the Income Tax Act. The tribunal found that the assessing officer failed to record satisfaction that the materials found during a search belonged to the assessees, rendering the initiation of proceedings legally invalid. Consequently, the orders passed by the tax authorities for the assessment years in question have been annulled.

Court :
ITAT Bangalore

Brief :
The appeals filed by the respective assessees are directed against the orders passed by Ld. CIT(A)-11, Bengaluru in their respective hands and they relate to the assessment years mentioned in the caption.

Citation :
ITA No.926/Bang/2015

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