https://www.taxtmi.com/highlights?id=74600 Validity of proceedings u/s 153C - The High Court held that loose sheets and diaries, without corroborative evidence, do not constitute "books of account" and hence cannot be solely relied upon for tax assessment purposes. Additionally, the process of centralizing cases without providing a reasonable opportunity for the assessee to object was found to be in violation of Section 127. The notice under Section 153C was deemed invalid because it did not meet the prerequisites for invoking this section. en-us Fri, 02 Feb 2024 07:52:09 +0530 Fri, 02 Feb 2024 07:52:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74600 Validity of proceedings u/s 153C - The High Court held that loose sheets and diaries, without corroborative evidence, do not constitute "books of account" and hence cannot be solely relied upon for tax assessment purposes. Additionally, the process of centralizing cases without providing a reasonable opportunity for the assessee to object was found to be in violation of Section 127. The notice under Section 153C was deemed invalid because it did not meet the prerequisites for invoking this section. Highlights Income Tax Fri, 02 Feb 2024 07:52:09 +0530 https://www.taxtmi.com/highlights?id=74600