ITAT held that the approval u/s 153D was mechanically granted...

ITAT held that the approval u/s 153D was mechanically granted without proper application of mind, violating principles of natural justice. The sanctioning authority failed to ensure complete documentation and opportunity of hearing for the assessee regarding a valuer's report. Consequently, the approval was deemed invalid, rendering the consequential assessment void ab initio. The tribunal quashed the assessment proceedings due to non-satisfaction of statutory mandates, ultimately allowing the assessee's appeal and invalidating the entire assessment process.