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Sec 263 Invalid Where PCIT Didn’t Challenge Sec 153D Approval in 153C Case
Case Law Details
- Case Name
- SWD Industries Vs PCIT (Central) (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Mumbai
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SWD Industries Vs PCIT (Central) (ITAT Mumbai)
Sec 263 Quashed – PCIT Cannot Revise U/s 153C Assessment Without Challenging U/s 153D Approval
Search assessments u/s 153C r.w.s. 143(3) were completed after mandatory approval u/s 153D. PCIT invoked revision u/s 263 alleging lack of enquiry on accommodation entries based on Alankit group search material.
ITAT held:
Approval u/s 153D is not a mere formality; it is a statutory safeguard involving application of mind
Once assessment is passed with such approval, it becomes integral part of assessment record
PCIT must examine &...
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