AGNATE FASHIONS LTD,DELHI vs. ACIT, CC-29, DELHI
Before: SHRI SATBEER SINGH GODARA & SHRI MANISH AGARWALAssessment Year: 2016-17 M/s. Glacier Tradex Pvt. Ltd., T-2/197, Phase-1, Mangolpuri Industrial Area, Delhi Vs. ACIT, Central Circle-29, Delhi PAN: AADCG5572F (Appellant)
PER SATBEER SINGH GODARA, JM
Both these assessees, namely, M/s. Glacier Tradex Pvt. Ltd and M/s. Agnate Fashions Ltd. have filed their instant as many
Assessee by Sh. Mukesh Jain, CA
Sh. R.B. Gupta, Adv.
Sh. Samyak Jain, Adv.
Department by Sh. Dayainder Singh Sidhu, CIT(DR)
Date of hearing
30.09.2025
Date of pronouncement
30.09.2025
ITA Nos.485 & 562/Del2025
2 | P a g e appeals ITA Nos. 485/Del/2025 and 562/Del/2025 against the order of Commissioner of Income Tax (Appeals)-25 [in short, the “CIT(A)”], New Delhi’s orders, both dated 05.11.2024 passed in case no. 11463/2015-16 and 10422/2016-17, involving proceedings under section 153C of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’), respectively.
Heard both the parties. Case files perused.
2. It transpires during the course of hearing that at the outset the assessee has raised legal ground that the impugned twin section 153C assessments herein are not sustainable in law for want of a valid satisfaction recorded by the learned departmental authorities on 23rd September, 2019, reading as follows:
ITA Nos.485 & 562/Del2025
3 | P a g e
This being the clinching factual position, learned CIT(DR) could hardly dispute that the above extracted section 153C satisfaction has nowhere made it clear as to which specific seized material found during the course of search either belonged or pertained or related to the assessee thereby having a bearing on its income of the relevant previous year so as to satisfy the rigor of section 153C(1)(a) to (b) of the Act. Various judicial precedents i.e PCIT Vs. Dev Technofab Ltd. (2025) 170 taxmann.com 664 (SC) and PCIT Vs. Ojjus Medicare (P) Ltd., (2024) 465 ITR 101 (Del) and CIT Vs. Jasjit Singh (2024) 465 ITR 101 (SC) have already settled the issue that a valid satisfaction forms sine qua non for initiation of section 153C proceedings culminating in the impugned assessments as is the assessee’s arguments before us. 4. Faced with this situation, we are of the considered view that both the learned lower authorities have erred in law and on facts in proceeding against the assessee under section 153C of the Act without recording a valid satisfaction. The Revenue’s vehement contentions supporting the same stand rejected therefore. Both these impugned assessments for assessment years 2016-17 and 2017-18 are hereby quashed in very terms.
ITA Nos.485 & 562/Del2025
4 | P a g e
These assessee’s twin appeals ITA Nos. 485 & 562/Del/2025 are allowed. Order pronounced in the open court on 30th September, 2025 (MANISH AGARWAL) JUDICIAL MEMBER
Dated: 17th October, 2025. RK/-