https://www.taxtmi.com/caselaws?id=458216 ITAT Chennai dismissed Revenue's appeals and upheld CIT(A)'s order quashing assessments under Section 153A for assessment years 2013-14, 2014-15, and 2015-16. The Tribunal held that when material is seized during search of another person, assessment cannot be made under Section 153A based on assessee's statement recorded under Section 132(4). Instead, assessment should have been framed under Section 153C with separate satisfaction recorded, following proper procedure. The Tribunal relied on judicial precedents including Anand Kumar Jain case from Delhi HC. en-us Wed, 27 Mar 2024 00:00:00 +0530 Tue, 15 Oct 2024 20:00:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458216 ITAT Chennai dismissed Revenue's appeals and upheld CIT(A)'s order quashing assessments under Section 153A for assessment years 2013-14, 2014-15, and 2015-16. The Tribunal held that when material is seized during search of another person, assessment cannot be made under Section 153A based on assessee's statement recorded under Section 132(4). Instead, assessment should have been framed under Section 153C with separate satisfaction recorded, following proper procedure. The Tribunal relied on judicial precedents including Anand Kumar Jain case from Delhi HC. Case-Laws Income Tax Wed, 27 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458216