ITAT Quashes Assessment Under Section 153C of Income Tax Act Due to Lack of Valid Grounds and Corroborative Evidence [Read Order]

By Killamsetty Rasmita - On August 21, 2023 9:30 pm - 2 mins read
ITAT Quashes Assessment - ITAT - Assessment - Income Tax Act - Income Tax - Corroborative Evidence - Evidence - Taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has quashed an assessment under Section 153C of the Income Tax Act, 1961, against an assessee due to lack of valid grounds and corroborative evidence and section 153C allows the Income Tax Department to assess an assessee other than the person searched, if incriminating material…

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