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No Section 147 Reopening on Third-Party Search Material: ITAT Raipur
Case Law Details
- Case Name
- Musaddilal Mansaram Infrastructure Pvt. Ltd. Vs ITO (ITAT Raipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Raipur
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Musaddilal Mansaram Infrastructure Pvt. Ltd. Vs ITO (ITAT Raipur)
ITAT Raipur Quashes 147 Reopening – Search-Based Cases Must Proceed u/s 153C- No Independent Material Beyond Search Records – ITAT Quashes 147 Notice
Assessee, engaged in real estate, filed return declaring a loss of Rs. 4.30 lakh. The return was processed u/s 143(1). Subsequently, a search u/s 132 was conducted in the case of Rashi Steel & Power Ltd. group, during which one of its Directors, Suresh Kumar Agrawal, admitted that he arranged accommodation entries through 31 shell companies. Assessee was found to have rec...
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