ITAT Quashes Assessments Over Common & Mechanical Approvals for Multiple Years

ACIT Vs Splendor Landbase Ltd. (ITAT Delhi) Income Tax Appellate Tribunal (ITAT), Delhi, delivered a significant verdict, quashing the assessment orders issued against Splendor Landbase Ltd. and its director, Hridey Vikram Bhatia, by the Assistant Commissioner of Income Tax (ACIT), Central Circle-3, New Delhi. These appeals, filed by the Revenue against the orders of the Commissioner of Income-tax (Appeals) [CIT(A)], pertained to assessment years following a search and seizure operation conducted on the Splendor Group on March 22, 2013. The ITAT’s decision rested on the grounds that the ...