The bench observed that the approval was given without examining the search records or applying independent judgment, rendering the assessment invalid.
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has quashed the assessment order against Wave Industries Pvt. Ltd., holding that the approval granted under Section 153D of the Income Tax Act, 1961, was “mechanical” and lacked proper application of mind. The bench allowed the company’s appeal, setting aside the additions made by the tax department….
Taxscan Premium
Why should you subscribe?
- Enjoy our website without interruptions from advertisements
- Receive Daily newsletters
- Receive realtime Telegram/Whatsapp news updates
- Download original Judgements / Order / Notifications / Circulars, etc
- Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
₹2299 + GST for 1 year
Subscribe Now
Already Subscribed?
Login Now 
