https://www.taxtmi.com/caselaws?id=285137 The Tribunal found the initiation of proceedings under Section 153C of the Income Tax Act invalid due to deficiencies in the satisfaction note and lack of ownership of seized documents by third parties. The assessments were barred by limitation, and the assumption of jurisdiction was deemed invalid. Cross-examination denial rendered assessment proceedings null. Additions under Section 68 were deleted, benefits under Sections 11 and 12 were allowed, and cancellation of registration under Section 12AA was inapplicable. The Tribunal upheld the principles of mutuality, concluding in favor of the assessee on multiple grounds. en-us Fri, 14 Dec 2018 00:00:00 +0530 Sat, 28 Dec 2019 09:54:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285137 The Tribunal found the initiation of proceedings under Section 153C of the Income Tax Act invalid due to deficiencies in the satisfaction note and lack of ownership of seized documents by third parties. The assessments were barred by limitation, and the assumption of jurisdiction was deemed invalid. Cross-examination denial rendered assessment proceedings null. Additions under Section 68 were deleted, benefits under Sections 11 and 12 were allowed, and cancellation of registration under Section 12AA was inapplicable. The Tribunal upheld the principles of mutuality, concluding in favor of the assessee on multiple grounds. Case-Laws Income Tax Fri, 14 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285137