Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (4) TMI 379 - AT - Income TaxAssessment u/s 153A - valid approval granted by the Ld JCIT u/s 153D - Addition u/s 68 - addition on account of receipt of share capital and premium thereon - HELD THAT:- As respectfully following the judgment of coordinate bench of ITAT Raipur in assessee’s own case [2021 (9) TMI 858 - ITAT RAIPUR] and latest judgment of Hon’ble Allahabad High Court in Sapna Gupta [2022 (12) TMI 887 - ALLAHABAD HIGH COURT] we are of the considered view that, the additional ground raised by the assessee has substantial merit, so far as the approval granted by the Ld JCIT u/s 153D was suffering with non-application of mind, based on presumptions, mechanical and illegitimate. Therefore, consequential assessments based on such non-est approval u/s 153D are void-ab-inito and cannot be sustained. Resultantly, the legal ground raised by the assessee stands allowed.
|