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ITAT Chennai Quashes Section 153C Assessments, Restricts Addition to 2% Profit Estimation
Case Law Details
- Case Name
- Nalli Trust Vs DCIT (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Chennai
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Nalli Trust Vs DCIT (ITAT Chennai)
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) disposed of five appeals filed by the assessee for Assessment Years (AYs.) 2017-18 to 2021-22 against separate orders of the Commissioner of Income Tax (Appeals). The appeals for AYs. 2017-18 to 2020-21 involved a common legal issue concerning the validity of assessments completed under Section 153C of the Income Tax Act, while the appeal for AY 2021-22 challenged an addition made on merits.
For AYs. 2017-18 to 2020-21, the assessee raised an additional legal ground contending that the Assessing Of...
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