Tag: Section 153C

Reassessment quashed as AO issued u/s 148 instead of 153C as reopening was based on incriminating material found during search In a recent judgment, ITAT Pune has quashed the reassessment order as Assessing Officer (AO) should have issued notice u/s 153C instead of notice u/s 148 since the …

Assessment u/s 147 on the basis of seized material found during search of third party void ab-initio – ITAT In a recent judgment, ITAT has quashed the re-assessment order passed u/s 147 holding that when incriminating material is seized belonging to person other than searched, assessment has to …