Search Assessment – Suppressed Sales Deleted, Sec 37(1) Expenses Allowed & CWIP Write-Off Treated as Revenue – 143(3) Order Quashed – ITAT Mumbai

Tin Tar Retail Corp Vs ACIT (ITAT Mumbai)

Search Assessment – Suppressed Sales Deleted, Sec 37(1) Expenses Allowed & CWIP Write-Off Treated as Revenue – 143(3) Order Quashed – ITAT Mumbai

Search u/s 132 led to parallel assessments u/s 143(3) & 153A for AY 2017-18. ITAT held that once search was initiated, assessment u/s 143(3) framed thereafter was invalid in view of 2nd proviso to Sec 153A and ratio of Abhisar Bui

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