Section 153D Approval Mandatory: Delhi ITAT Invalidates Assessment Over Missing Record

Paramasivam Mahalingam Vs ACIT (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi Bench, allowed the appeal of Paramasivam Mahalingam against the order of the Commissioner of Income Tax (Appeals), ruling the assessment invalid due to the Income Tax Department’s failure to produce the mandatory prior approval record under Section 153D of the Income Tax Act, 1961 (the Act). Background and Initial Assessment The case stemmed from a search and seizure operation conducted on the Santosh/Km/VMI Group and its promoters on June 27, 2013. Following the search, assessment proceedings un...