Cash Seized During 2019 Elections: ITAT Quashes Assessments u/s 153A for Failure to Issue Certificate u/r 112F

The ITAT has quashed assessments made under Section 153A concerning cash seized during the 2019 elections, due to the failure to issue a certificate under Rule 112F. The tribunal ruled that the absence of this mandatory certificate, which authenticates the seized cash, renders the assessment proceedings invalid. This decision underscores the importance of strict adherence to procedural requirements in search and seizure operations and subsequent assessments. It provides relief to taxpayers affected by such seizures, emphasizing that legal formalities must be meticulously followed by tax authorities to ensure the validity of any resulting assessments or additions to income.