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Reassessment Quashed as AO Used Section 147 Instead of Mandatory Section 153C
Case Law Details
- Case Name
- Viru Textile Mills Pvt. Ltd. Vs ITO (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Ahmedabad
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Viru Textile Mills Pvt. Ltd. Vs ITO (ITAT Ahmedabad)
Where reopening is based solely on incriminating material seized during search on a third party, the Revenue must proceed under section 153C and cannot bypass the special search assessment code by invoking sections 147/148.
In Viru Textile Mills Pvt. Ltd. Vs ITO, the ITAT Ahmedabad considered reassessment proceedings initiated under Sections 147/148 for AYs 2016-17 and 2017-18 based on material seized during a search conducted on the Sanjay Tibrewal Group. The assessee challenged the reopening on multiple legal and factual g...
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