AdvertisementBlue Water Enterprises Vs DCIT (ITAT Delhi) Delhi ITAT Quashes ₹12.62 Crore Addition: Section 153C Limitation Runs From Date Seized Material Is Handed Over to AO of “Other Person”; 10-Year Period Cannot Apply Without Specific Satisfaction The Delhi ITAT allowed the appeals of Blue Water Enterprises and quashed assessments made under Section 153C for AYs 2012-13 and 2013-14 as being barred by limitation. A search u/s 132 was conducted in the Rakesh Jain Group on 02.11.2017. Documents relating to Blue Water Enterprises were subsequently found, and the AO of the assessee received the seized...