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2014 (1) TMI 1806 - AT - Income TaxReopening of assessment - assessment u/s 153C - Held that:- It is evident from the reasons recorded for reopening the assessment under S.147 that it is the information received from the Central Range-1, Hyderabad upon search operations carried on in the premises of M/s. Janapriya Engineers Syndicate P. Ltd., which formed the basis for initiation of the proceedings under S.147 of the Act. It is settled position of law that in all matters, emanating from search action that proceedings have to be initiated under S.153C of the Act, and not under S.147 of the Act. Considering this statutory bar in the form of a non-obstante clause contained in S.153C of the Act, the proceedings initiated under S.147 in the present case, based on the information that came to light as a result in the course of search on the premises of Janapriya Engineers Syndicate and made available to the Assessing Officer by the Central Circle, has no legal sanctity, as the same is against the spirit of provisions of S.153C of the Act. - Decided in favour of assessee.
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