Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
The Additional Commissioner of Income Tax's approval u/s 153D was held invalid as it was granted mechanically without applying mind. Relying on the coordinate Bench's ruling in the assessee's own case for previous years and Neetu Nayyar's case, upheld by the Hon'ble High Court, the Tribunal quashed the assessment order as the underlying approval u/s 153D was vitiated by lack of proper application of mind. Consequently, the assessee succeeded.
The Additional Commissioner of Income Tax's approval u/s 153D was held invalid as it was granted mechanically without applying mind. Relying on the coordinate Bench's ruling in the assessee's own case for previous years and Neetu Nayyar's case, upheld by the Hon'ble High Court, the Tribunal quashed the assessment order as the underlying approval u/s 153D was vitiated by lack of proper application of mind. Consequently, the assessee succeeded.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
