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TMI Blog2021 (7) TMI 1270X X X X Extracts X X X X X X X X Extracts X X X X ..... two orders of reassessment both dated 24.12.2019, passed under the provisions of the Income Tax Act, 1961 (in short 'Act') for assessment years 2016-17 and 2017-18. The legal issue argued before me is the assumption of jurisdiction by the Assessing Authority under Section 147 of the Act, which deals with re-assessment. 3. According to the learned counsel for the petitioner, the reassessments have emanated out of search proceedings in the case of one Laxmi Remote India Pvt. Ltd. (LRIPL), under Section 132 of the Act. In such case, the only recourse would, according to her, be the provisions of Section 153C of the Act and not Section 147. 4. LRIPL had been subject to search by the Income Tax Department and the Assessing Authority of LRIPL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... PL was being passed on to their respective assessing officers to examine whether undisclosed income would arise in those cases under Section 69C or other applicable provisions of the Act. 7. The petitioner would argue that the provisions of Section 153C constitute a complete code. It commences with a non-obstante clause, as it is applicable notwithstanding other statutory provisions, including Section 147 of the Act. Section 153C is applicable not just in the case of seized material containing particulars of third parties but also 'information' found in the course of search, relatable to third parties. Thus, according to the petitioner, since information has been allegedly found relatable to this petitioner in the course of search of LRIPL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve escaped assessment. 10. Learned revenue counsel distinguishes the decision relied on by the petitioner stating that those petitions involved only a single or few third parties/entity whereas, the present case involved around 500 such entities. 11. The provisions of Section 153C and 147 are separate, distinct and independent measures that apply to different situations. No doubt, in the present case, the impugned assessment is based upon materials found in the course of search under Section 132. Also unquestionably, the provisions of Section 153C apply notwithstanding anything contained in other provisions including Section 147. This only means that the provisions of Section 153C can be invoked irrespective of whether a regular or re-ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to proceed in a matter, it is for that officer to determine and come to a conclusion as to the proper, appropriate and simplest method of proceeding further. 15. The provisions of Section 147 and 148 provide for assessment of income that have escaped assessment. Nowhere in Section 147 are the provisions of Section 153 excluded. 16. The Assessing Officer must, in choosing the provision to apply, bear in mind the statutory conditions set out and arrive at a decision having regard to the logistics and the efficacy of the provision chosen. In a case such as the present, the respondent has, in my view, arrived at the proper conclusion, bearing in mind the interests of revenue, to share the information found with the assessing officers of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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