Initiation of assessment proceedings u/s 153C in case of searched assessee is invalid

Pawan Kumar Vs DCIT (ITAT Amritsar) ITAT Amritsar held that initiation of Assessment Proceedings u/s 153C, instead of section 153A, in case of the searched assessee makes the entire assessment invalid. Accordingly, penalty levied u/s 271(1)(c) is not maintainable. Facts- There was search and seizure proceedings u/s 132 on 25.09.2019 conducted on the premises of M/s AIRWINGS SERVICES PVT. LTD in which the appellant is an employee. A search was also conducted separately at the residential premises of the appellant. Subsequently, the proceedings u/s 153C were initiated on the basis of material se...