Action under Section 153C cannot be based solely on Survey Material

Dinesh Shah (HUF) Vs DCIT (ITAT Mumbai) The Mumbai Income-tax Appellate Tribunal (ITAT) recently addressed a crucial issue in the case of Dinesh Shah (HUF) vs. DCIT regarding the initiation of action under section 153C of the Income-tax Act. The crux of the matter revolved around the validity of the reassessment proceedings initiated under section 153C of the Income-tax Act. The tribunal examined whether such action could be initiated solely based on material impounded during a survey, rather than material seized during a search. The tribunal referenced the provisions of section 153C of the Ac...