https://www.taxtmi.com/caselaws?id=311016 ITAT Mumbai held that assessment under section 153A was invalid due to improper notice. The Assessing Officer failed to specify incriminating material found during search in the notice, making it jurisdictionally defective. Following precedents from Bombay HC and coordinate bench decisions, the tribunal ruled that without details of seized material, the assessee cannot determine appropriate response. The notice under section 153A and subsequent assessment under section 143(3) read with section 153A were declared bad in law. Additions made under section 2(22)(e) regarding deemed dividend were consequently rejected. Appeal decided in favor of assessee. en-us Wed, 06 Jul 2022 00:00:00 +0530 Sat, 02 Dec 2023 08:46:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311016 ITAT Mumbai held that assessment under section 153A was invalid due to improper notice. The Assessing Officer failed to specify incriminating material found during search in the notice, making it jurisdictionally defective. Following precedents from Bombay HC and coordinate bench decisions, the tribunal ruled that without details of seized material, the assessee cannot determine appropriate response. The notice under section 153A and subsequent assessment under section 143(3) read with section 153A were declared bad in law. Additions made under section 2(22)(e) regarding deemed dividend were consequently rejected. Appeal decided in favor of assessee. Case-Laws Income Tax Wed, 06 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311016