Approval Granted u/s 153 D clearly indicates Approving Authority neither Examined Assessment Records nor Seized Materials: ITAT quashes Assessment Order

The Delhi ITAT bench invalidated the assessment order due to the absence of proper scrutiny under Section 153D. MDLR Airline (P) Ltd, the assessee, argued that the approval lacked thorough examination of seized materials or assessment records, rendering the orders invalid. \r

The tribunal observed a mechanical approval process, with the approving authority not assessing any records or materials. Letters from the Assessing Officer requesting approval lacked accompanying assessment records or seized material. Surprisingly, approval was swiftly granted the same day. The tribunal, comprising Naveen Chandra and Saktijit Dey, nullified the assessment orders, deeming the merit-based arguments academic. \r

Consequently, the assessee's appeals were upheld.