Section 153D Approval Must Be Year-Specific, Independent & Non-Mechanical: Delhi ITAT

Apple Commodities Limited Vs DCIT (ITAT Delhi) Approval u/s 153D must be specific to each assessment year, must involve independent application of mind, & cannot be granted in a blanket or mechanical manner- Delhi ITAT Consequent to search operation u/s 132 conducted on 11.11.2014 along with Apple Group of Companies cases, the assesee filed  return of income declaring Nil income. Assessment for the AY 15-16 was completed u/s 153C r.w.s. 144 & various additions were made, including unexplained transaction from seized documents, unexplained unsecured loans,  unexplained cash deposits &...