https://www.taxtmi.com/caselaws?id=754614 ITAT Guwahati quashed assessment order under section 153C for lack of valid satisfaction note, rendering it void ab initio. The assessing officer erroneously assumed jurisdiction without proper satisfaction note and made additions totaling Rs. 10.72 crores based on capital investments in LLPs through alleged paper companies, without referring to incriminating material found during search. Following Supreme Court precedent in Abhisar Buildwell, no additions can be made for completed assessment years without incriminating material from search. The tribunal upheld CIT(A)'s decision favoring the assessee, finding the assessment invalid and bad in law. en-us Mon, 24 Jun 2024 00:00:00 +0530 Thu, 27 Jun 2024 08:57:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754614 ITAT Guwahati quashed assessment order under section 153C for lack of valid satisfaction note, rendering it void ab initio. The assessing officer erroneously assumed jurisdiction without proper satisfaction note and made additions totaling Rs. 10.72 crores based on capital investments in LLPs through alleged paper companies, without referring to incriminating material found during search. Following Supreme Court precedent in Abhisar Buildwell, no additions can be made for completed assessment years without incriminating material from search. The tribunal upheld CIT(A)'s decision favoring the assessee, finding the assessment invalid and bad in law. Case-Laws Income Tax Mon, 24 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754614