TaxTMI 
TaxTMI 
2025 (2) TMI 1700
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....271AAB respectively. Since common issues involved in these appeals, hence, the same were heard together and are being disposed of by this common order for the sake of convenience, by dealing with ITA No. 4820/Del/2024 (AY 2016-17) being the lead case. 2. The grounds raised in Assessee's appeal no. 4820/Del/2024 (AY 2016-17) read as under:- i) On the facts and circumstances of the case and in law, the order passed by the ld. CIT(A) u/s. 271(1)(c) of the Act is bad in law and without jurisdiction. ii) On the facts and circumstances of the case and in law, the CIT(A) erred in imposing penalty of Rs. 7,50,000/- u./s. 271(1)(c) on addition /enhancement of Rs. 25,00,000/-. iii) On the facts and circumstances of the c....
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.... the assessment ordeRs. Thus, he submitted that there remains no quantum additions. Accordingly, the penalty levied does not survive and needs to be deleted. Per contra, Ld. DR did not raise any objection. 5. Upon hearing both the representatives and perusing the records, we find that in the quantum appeals relating to the penalty appeals, assessment have been quashed by the ITAT vide its order dated 29.10.2024 in assessee's own case, by holding as under:- "5. We have carefully considered the rival submissions and perused the material placed on record and case laws cited. The legal objection of the transgression of requirements of approval under Section 153D of the Act, inter alia, is in controversy. 5.1 Pursuant to sea....
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....ing authority is necessarily required to objectively evaluate the contents of such proposed Assessment Order with utmost care and circumspection on various issues so as to derive his/her informed satisfaction that the proposed action of the AO is in conformity with the subsisting law. The requirement of law is to grant approval not merely as an empty formality for a symbolic act but a mandatory requirement coupled with duty. The AO is obligated to pass the Assessment Order exactly, as per approval/directions of the designated authority. Inevitably, this such approval is contingent upon appreciating of material gathered at the time of search as well as obtained in the course of assessment proceedings. 6. In the backdrop of facts eme....
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....es it evident that such approval is generic, listless and accorded in a blanket manner without reference to any issue in respect of any of the Assessment years involved in the case of any of the assessee covered in the consolidated approval. Apparently, the approval has been granted on a dotted line without any availability of reasonable time which firms up the belief towards non- application of mind. Besides, the Addl. CIT has failed to note that the AO has not even cared to determine the assessed income. 9. The whole sequence of action towards approval under s. 153D appears to be illusory to merely meet the requirement of law as empty formality. 10. Identical dispute emanating from the same approval memo in question came....