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of <h1>SC Confirms s.153C Assessments Invalid Without Incriminating Material, Upholds Quashing for Multiple Years, Revenue SLP Dismissed</h1> SC upheld the HC's quashing of assessments framed u/s 153C for AYs 2014-15, 2015-16, 2016-17, 2017-18, 2018-19 and 2020-21, holding that in the absence of ... Validity of assessment u/s 153C - Statutory imperatives of incriminating material - as decided by HC [2024 (5) TMI 1468 - DELHI HIGH COURT] Absent any material that may either cast a doubt on the estimation of total income for a particular year or years, the AO would not be justified in invoking its powers conferred by Section 153C. It would only be consequent to such satisfaction being reached that a notice would be liable to be issued and thus resulting in the abatement of pending proceedings and reopening of concluded assessments Impugned action u/s 153C of the Act, pertaining to AYs 2014-15, 2015-16, 2016-17, 2017-18, 2018-19 and 2020-21 are hereby quashed and set aside and as AY 2019-20 is concerned, the same is left untouched. HELD THAT:- As having gone through the materials on record, we see no reason to interfere with the impugned order passed by the High Court. The Special Leave Petition is, accordingly, dismissed. The Supreme Court, with Justices J.B. Pardiwala and R. Mahadevan presiding, issued an order regarding a Special Leave Petition. The Court, after hearing arguments from the petitioner's counsel, including Senior Advocate Mr. Rupesh Kumar, found no grounds to interfere with the High Court's decision. Consequently, the Special Leave Petition was dismissed. Additionally, any pending applications were also disposed of. Delay in filing was condoned.
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