Assessment Set Aside as CIT(A) Failed to Consider Satisfaction Note & Seized Evidence

Manalparambil Aboobacker Vs ACIT (ITAT Cochin) The ITAT Cochin addressed appeals from multiple assessees, challenging orders from the National Faceless Appeal Centre (CIT(A)). These cases centered on assessments made under Section 153C of the Income Tax Act, based on evidence found during a search and seizure operation against the Malabar Group of concerns. The Assessing Officer (AO) determined that the assessees had received undisclosed income from the Malabar Group, based on entries in digital records found during the search. The assessees contested these assessments, arguing that no direct ...