Section 153C Assessment Quashed for Lack of Incriminating Material

Advertisement JSP Projects Private Limited Vs DCIT (ITAT Delhi) Section 153C Assessment Quashed in Absence of Incriminating Material — ITAT Delhi Follows Abhisar Buildwell and Kabul Chawla The Delhi Bench of the ITAT allowed the appeal of JSP Projects Pvt. Ltd. for AY 2014-15, holding that the assessment framed under section 153C was void ab initio due to the absence of incriminating material pertaining to the assessee. The search was conducted in the case of the Alankit Group, and the AO invoked section 153C against the assessee based on ledger accounts and soft data allegedly found from...