ITAT Quashes Assessments as Section 153D Approval Was Granted Mechanically

Max City Developers Private Limited Vs DCIT (ITAT Delhi) The Delhi Income Tax Appellate Tribunal (ITAT) allowed the appeals filed by the assessee against the common order of the Commissioner of Income-tax (Appeals) relating to Assessment Years 2011-12 and 2014-15. The dispute arose from assessment orders passed under Section 153C read with Section 143(3) of the Income Tax Act, 1961. During the hearing, the assessee pressed Ground No. 1, contending that the approval granted under Section 153D was not in accordance with law. The Department opposed the challenge by arguing that Section 292BC, int...