Assessment order quashed as mere technical approval granted u/s. 153D: ITAT Delhi

Mainee Steel Works Pvt. Ltd. Vs DCIT (ITAT Delhi) ITAT Delhi held that the approval granted u/s. 153D in the nature of a ‘technical approval’ in symbolic exercise of powers under s. 153D. Hence, the consequential assessment orders based on such repugnant approval under s. 153D is bad in law in tune with earlier years. Facts- The assessee company, namely Mainee Steel Works Pvt. Ltd., is stated to be involved in the business of many activities including renting of construction scaffolding equipment etc. The assessee also derives rental income from factories/Godowns located in Noida, UP. The ...