Subscribe to the Bombay Chartered Accountant Journal Subscribe Now!

November 2024

Search and seizure — Survey — Assessment in search cases — Grant of approval by the competent authority — Approval to be granted for each assessment year — Single approval u/s. 153D granted by competent authority for multiple assessment years — Grant of approval cannot be merely ritualistic formality or rubber stamping by authority — Tribunal not erroneous in setting aside assessment order.

By Keshav Bhujle | Ritu Punjabi, Advocates
Reading Time 2 mins

58. Principal CIT vs. Shiv Kumar Nayyar

[2024] 467 ITR 186 (Del)

A. Y. 2015–16: Date of order 15th May, 2024

Ss. 132, 133A, 143(3), 153A and 153D of ITA 1961

Search and seizure — Survey — Assessment in search cases — Grant of approval by the competent authority — Approval to be granted for each assessment year — Single approval u/s. 153D granted by competent authority for multiple assessment years — Grant of approval cannot be merely ritualistic formality or rubber stamping by authority — Tribunal not erroneous in setting aside assessment order.

The Tribunal set aside the assessment order passed u/s. 153A of the Income-tax Act, 1961 read with section 143(3) as invalid and bad in law on the ground that the approval granted by the Range's head under section 153D was void since it was granted in a mechanical manner without application of mind.

On appeal by the Revenue the

Read More
Download PDF

You May Also Like

Revision — Application for revision u/s. 264 — Power of Commissioner to condone delay — Power should be exercised in a liberal manner — Delay should be condoned where there is sufficient cause for it.

TDS — Rent — Transit rent — Payment made by developer or landlord to a tenant who suffered hardship due to dispossession — Transit rent not taxable as revenue receipt — No liability to deduct tax at source.