Approval of S. 153D Assessment on Next day by Addl. CIT: ITAT quashes Demand Order [Read Order]

The ITAT ruled that the approval was given in a "mechanical manner," without the necessary application of mind
By Varda Marakkar - On October 2, 2024 4:48 pm - 2 mins read
Income Tax - Assessment Order - Section 153D of Income Tax Act 1961 Income Tax - Assessment Order - Section 153D of Income Tax Act 1961 - TAXSCAN- TAXSCAN

Recently in a case, the Income Tax Appellate Tribunal ( ITAT ) quashed a demand order that arose from an assessment approved under Section 153D of the Income Tax Act 1961 (ITA), The assessee/ appellant,  M/s Khoday Eshwarsa and Sons (now Khoday Eshwarsa and Sons Pvt. Ltd.),  challenged the legitimacy of an income tax assessment…

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