https://www.taxtmi.com/caselaws?id=764178 The ITAT Pune quashed an assessment framed under section 153C due to a consolidated satisfaction note covering multiple assessment years (2012-2013 to 2018-2019) instead of separate satisfaction notes as required by law. The tribunal held that without proper satisfaction notes for each year, no additions could be made without following provisions under sections 147/148 or 153C. The PCIT's revision under section 263 was rejected as the twin conditions (erroneous and prejudicial to revenue) were not satisfied, since the assessment order was not erroneous despite being prejudicial to revenue interests. en-us Mon, 30 Dec 2024 00:00:00 +0530 Sat, 04 Jan 2025 08:44:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764178 The ITAT Pune quashed an assessment framed under section 153C due to a consolidated satisfaction note covering multiple assessment years (2012-2013 to 2018-2019) instead of separate satisfaction notes as required by law. The tribunal held that without proper satisfaction notes for each year, no additions could be made without following provisions under sections 147/148 or 153C. The PCIT's revision under section 263 was rejected as the twin conditions (erroneous and prejudicial to revenue) were not satisfied, since the assessment order was not erroneous despite being prejudicial to revenue interests. Case-Laws Income Tax Mon, 30 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764178