Assessment/Reassessment in a Search-Related Case Cannot Be Passed Without Proper Approval by Competent Authority: ITAT [Read Order]
It was observed that the approval granted under section 153D of the Act clearly indicates that the Approving Authority has neither examined the assessment records nor the seized materials
In a significant case, the Income Tax Appellate Tribunal ( ITAT ) of the New Delhi bench held that assessment or reassessment in a search-related case cannot be passed without proper approval of the competent authority and quashed the same. It was observed that the approval granted under section 153D of the Income Tax Act…
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