Search-Based Assessment Falls Under Section 153C, Not 147 – ITAT Bangalore Quashes Addition

Jasmine Shah Srivastava Vs ACIT (ITAT Bangalore) Search Material Cannot Trigger 147 – Wrong Section Invoked – Tribunal Says 153C, Not 147, Applies- ITAT Bangalore Cancels Reassessment Based on Search Seizure15 Reassessment on Search Material? ITAT Bangalore Quashes ₹50 Lakh Addition – Proper Course was u/s 153C, Not 147 Bangalore Tribunal has quashed a reassessment order holding that once the addition is entirely based on documents seized during a search, AO cannot invoke section 147/148. The correct course is to proceed u/s 153C. Assessee, a non-resident, did not file return for A...