ITAT Cochin: Validity of Sec 153C Proceedings Upheld, Revenue Appeals Dismissed

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 total income due to suppressed sale of liquor. The Third Member upheld the Judicial Member's decision, resulting in the dismissal of Revenue's appeals and the allowance of assessee's Cross Objections.

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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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