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2021 (5) TMI 26 - AT - Income TaxReopening of assessment u/s 147 - information found from the searched person consequent to the search u/s 132 relied upon - HELD THAT:- In the instant case, there is no dispute that the joint receipt was seized during the course of search as mentioned by the AO in the assessment order as well as the remand report and the assessment was made u/s 147 on the basis of statement recorded u/s 132(4) of the Act, appraisal report and the joint receipt.All of them are directly related to the information found from the searched person consequent to the search u/s 132. Therefore, as provided u/s 153A and 153C, all the search assessments required to be made u/s 153A or 153C, but not u/s 147 of the Act. No fresh information was collected by the AO or no information has come to the notice of the AO in normal course other than the information collected during the course of search from the searched person. Thus, the assessee’s case is squarely covered by the decision of this Tribunal in G.Koteswara Rao [2015 (12) TMI 1280 - ITAT VISAKHAPATNAM]. The department has not brought any other evidence to establish that the joint receipt was not seized during the search/s 132. In the light of the aforesaid discussion and on consideration of facts and the law we, hold that the assumption of jurisdiction by the AO u/s 147 is bad in law, hence, we set aside the order of the Ld.CIT(A) and the assessments framed u/s 147 r.w.s. 143(3) are quashed. The appeals of the assesses allowed.
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