2024 (8) TMI 1576 - SC - Income Tax

Assessment u/s 153A - Valid approval under Section 153D - Prior approval necessary for assessment in cases of search or requisition. As decided by HC 2022 (12) TMI 1021 - ALLAHABAD HIGH COURT approval with respect to each assessment year is to be obtained by the AO on the draft assessment order before passing the assessment orders u/s 153A. In the instant case the draft assessment orders in 123 cases i.e. for 123 assessment years placed before the Approving Authority on 30.12.2017 and 31.12.2017 were approved on 31.12.2017 which not only included the cases of respondent-assessee but the cases of other groups as well. It is humanly impossible to go through the records of 123 cases in one day to apply independent mind to appraise the material before the Approving Authority. HELD THAT - Having regard to the facts and circumstances of the case(s) we are not inclined to interfere in the matters. These Special Leave Petitions are dismissed. This order is passed following the earlier order passed in M/s Serajuddin Co. 2023 (11) TMI 1254 - SC ORDER which is in respect of the very same assessee.

Summary

The Supreme Court of India, through Hon'ble Justices B.V. Nagarathna and Nongmeikapam Kotiswar Singh, heard the Special Leave Petitions concerning the assessee M/s Serajuddin & Co. After condoning delay, the Court stated, "Having regard to the facts and circumstances of the case(s), we are not inclined to interfere in the matters." Consequently, the Special Leave Petitions were dismissed. This order follows the earlier order dated 28.11.2023 in SLP(C) Dy. No.44989/2023 involving the same assessee. All pending applications stand disposed of.