https://www.taxtmi.com/caselaws?id=403317 The Tribunal invalidated the approval granted under section 153D of the Income Tax Act as it was found to be granted mechanically without due application of mind. Consequently, the assessment orders under section 153A were deemed vitiated and were quashed. The Tribunal highlighted the failure to properly examine incriminating material and appraisal reports, leading to double and triple additions in assessments without considering the source of funds. Additionally, the Tribunal refrained from issuing directions under section 150 against a party already under appeal, considering potential prejudice. en-us Tue, 19 Jan 2021 00:00:00 +0530 Sat, 13 Mar 2021 13:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403317 The Tribunal invalidated the approval granted under section 153D of the Income Tax Act as it was found to be granted mechanically without due application of mind. Consequently, the assessment orders under section 153A were deemed vitiated and were quashed. The Tribunal highlighted the failure to properly examine incriminating material and appraisal reports, leading to double and triple additions in assessments without considering the source of funds. Additionally, the Tribunal refrained from issuing directions under section 150 against a party already under appeal, considering potential prejudice. Case-Laws Income Tax Tue, 19 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403317