The Tax Publishers2020 TaxPub(DT) 4114 (Del-Trib)

INCOME TAX ACT, 1961

Section 147

Reassessment proceedings under section 147 initiated on the basis of a document seized from a third party was not valid because in such situation provisions of section 153C were applicable, and not section 147.

Reassessment - Validity - Reopening on basis of incriminating material found during search in case of third party -

AO on the basis of incriminating documents belonging to assessee found during search in case of certain third party, reopened assessment by issuing notice under section 148 and made addition the assessment framed under section 147/143(3). Held: Reassessment proceedings under section 147 initiated on the basis of a document seized from a third party was not valid because in such situation provisions of section 153C were applicable, and not section 147. Accordingly, reassessment was quashed as invalid.

Followed:Deepak Gupta v. ITO [ITA No. 5464/Del/2018 Order, dated 28-1-2019].

REFERRED :

FAVOUR : In assessee's favour.

A.Y. : 2008-09

IN THE ITAT, DELHI BENCH

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