Case Law Analysis
|Income Tax Appellate Tribunal
Limitation for Section 153C assessment runs from satisfaction-note date, not from Section 127 order | Multi-entity search cases : ITAT
ITAT held that the limitation clock for a Section 153C assessment begins on the date the assessing officer records the satisfaction note, not on the earlier Section 127 order. This narrows the time-bar for revenue to finalize assessments in multi-entity search cases, affecting taxpayers facing delayed notices.