Passing of final assessment order without prior approval u/s. 153D untenable

NR TMT (India) Pvt. Ltd. Vs DCIT (Central)-2 (ITAT Raipur)

ITAT Raipur held that AO has passed the final assessment order u/s.143(3) r.w.s. 153B(b) of the Act without seeking a prior approval of the same by the Jt. CIT u/s. 153D of the Income Tax Act and hence the order so passed is liable to be quashed.

Facts- The assessee company which is engaged in the business of manufacturing of sponge iron and MS Ingots/Billets was as on 24.10.2017 subjected to search and seizure proceedings u/s.132 of the Act. The assessee company subsequent to the search proceedings

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