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of <h1>ITAT Cochin: Validity of Sec 153C Proceedings Upheld, Revenue Appeals Dismissed</h1> <h3>M/s. Royale Park, Versus. The Deputy Commissioner of Income-tax & vice versa</h3> The Appellate Tribunal ITAT Cochin ruled in favor of the assessee regarding the validity of proceedings under section 153C of the Act and addition to ... Validity of proceedings u/s. 153C - addition made to the total income on account of income generated on sale of liquor not recorded in the books (suppressed sale of liquor) - Held that:- The Hon’ble Third member has agreed with the view taken by the Hon’ble Judicial Member in respect of both the questions referred above. Accordingly, as per the majority view, both the issues cited above are decided in favour of the assessee. The Appellate Tribunal ITAT Cochin ruled in favor of the assessee in a case involving validity of proceedings under section 153C of the Act and addition to total income due to suppressed sale of liquor. The Third Member agreed with the Judicial Member's view, leading to dismissal of Revenue's appeals and allowance of assessee's Cross Objections. (Citation: 2015 (5) TMI 995 - ITAT COCHIN)
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