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2024 (4) TMI 259 - ITAT DELHIReopening of assessment u/s 147 or assessment u/s 153C - reassessment was made based on the materials found in the course of search conducted on third party - addition u/s 68 in respect of share capital received by the assessee from various parties/companies - HELD THAT:- We observe that identical issue came up for consideration before the coordinate bench of the Tribunal in the case of M/s MAH Impex Pvt. Ltd. [2024 (1) TMI 411 - ITAT DELHI] wherein the coordinate bench considered identical issue where an assessment was made u/s 143(3) r.w.s. 147 of the Act based on incriminating material found in a search conducted on S.K. Jain Group and the Tribunal sustained the order of the CIT(Appeals) in quashing the reassessment order passed u/s 143(3) r.w.s. 147 of the Act and upholding the view of the CIT(A) that once reassessment proceedings are initiated on the basis of incriminating material found in the search of third party then the provisions of section 153C of the Act are applicable which exclude the application of provisions of section 147 and 148 of the Act. Also decided in MR. NILESH BHARANI VERSUS DCIT CC - 4 (1) MUMBAI [2023 (3) TMI 200 - ITAT MUMBAI] assessment order passed u/s 147 of the Act on 30/12/2018 is illegal and void ab initio and same is hereby quashed, having been passed on incorrect provision, ignoring the mandatory non-obstante sections 153A / 153C of the Act, as here in this case, jurisdiction to assess and pass the assessment order was under sections 153A / 153C. Thus as in the present case the assessment was framed u/s 143(3) r.w.s. 147 of the Act based on the incriminating material found in the course of search in a third party. We hold that the assessment made u/s 143(3) r.w.s. 147 of the Act is void ab initio - Assessee appeal allowed.
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