TMI Blog2019 (2) TMI 416X X X X Extracts X X X X X X X X Extracts X X X X ..... of law. Therefore, the judgment reported in Lancy’s case cannot be said to be applicable in law or that it is binding for any reason whatsoever. Under these circumstances, when the Tribunal has relied on the judgment in Lancy’s case, we are of the view that a grave error has been committed. Therefore, the only issue that Lancy’s case has been wrongly followed, the impugned order requires to be set aside. - Matter restored before the ITAT - INCOME TAX APPEAL NO.358 OF 2018 CONNECTED WITH INCOME TAX APPEAL NO.359 OF 2018 AND INCOME TAX APPEAL NO.360 OF 2018 - - - Dated:- 8-1-2019 - MR. RAVI MALIMATH AND MR. MOHAMMAD NAWAZ JJ. APPELLANTS: (BY SRI. K.V. ARAVIND, ADVOCATE) RESPONDENT: (BY SRI. BALARAM R. RAO, ADVOCATE) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal remanded the matter to the Commissioner of Income Tax for fresh consideration in the light of the judgment in Lancy s case after examining the factual aspects of the matter as to whether any incriminating materials were found during the course of search. Questioning the same, the present appeals are filed. The appeals were admitted to consider the following two substantial questions of law: i. Whether on the facts and in the circumstances of the case and in law the Tribunal was correct in law in holding that incriminating material is necessary condition for proceedings under Section 153A of the Act by following the judgment of this Hon ble Court in case of CIT V/s. Lancy Constructions ii. Whether on the facts and in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble High Court held in para 6, as follows: Para 6 .. Merely because a search is conducted in the premises of the assessee, would not entitle the Revenue to initiate the process of reassessment, for which there is a separate procedure prescribed in the statute. It is only when the conditions prescribed for reassessment are fulfilled that a concluded assessment can be reopened. 7. On considering the same, we are of the considered view that the reasons assigned by the Tribunal are erroneous. Firstly, the judgment reported in CANARA HOUSING DEVELOPMENT COMPANY was not even considered in Lancy Construction s case. Seconding, Lancy s case was dismissed at the stage of admission without even a notice to the Assessee. The High Court i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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