ITAT Chandigarh Quashes Assessment for Non-Compliance with Section 153C Procedure

Amico Textiles Vs DCIT (ITAT Chandigarh) Income Tax Appellate Tribunal (ITAT) Chandigarh has quashed an addition of ₹46.87 Lakhs made against Amico Textiles for Assessment Year 2013-14, ruling that the Assessing Officer (AO) bypassed the mandatory procedure under Section 153C of the Income-tax Act, 1961. The addition was based on documents seized from a partner of the firm during a search operation, but the assessment was incorrectly framed under Section 147 read with Section 153A. Background of the Dispute: The case originated from a search and seizure operation conducted on September 4, 20...