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2022 (6) TMI 256 - ITAT MUMBAIReopening of assessment u/s 147 or 153C - assessment was reopened mainly on the basis of information received from ACIT, Ahmadabad that during search proceedings in the case of M/s. Dharmadev Infrastructure Ltd., they unearthed the information relating to bank account in the case of assessee which contain the details of deposits and cash deposits - whether the information found during the search can be applied to reopen the assessment instead of assessing the return of income under the provisions of section 153C? - HELD THAT:- As relying on Karti P. Chidambaram [2021 (7) TMI 393 - MADRAS HIGH COURT] any material found during the search can be applied to initiate proceedings only u/s. 153C of the Act, not under section 147 of the Act. Accordingly, we are in agreement with the grounds raised by the assessee that the proceedings initiated u/s. 147 of the Act is void ab initio. Accordingly, any proceedings relating to the above assessment is also becomes invalid. Accordingly, the appeal filed by the assessee is allowed in this regard.
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