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Initiation of proceedings against person other than searched person u/s 148 instead of 153C unsustainable
Case Law Details
- Case Name
- Ickon Projects Vs ITO (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2006-07
- Courts
- All ITAT, ITAT Bangalore
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Ickon Projects Vs ITO (ITAT Bangalore)
ITAT Bangalore held that initiation of proceedings against the person other than the searched person under section 148, instead of section 153C, of the Income Tax Act is without any jurisdiction and hence held liable to be set aside.
Facts- The appellant firm purchased a piece of land for a consideration of Rs.8,90,00,000/- on 03.01.2007. Thereafter the assessee entered into an agreement dated 16.03.2009 with M/s. Sobha Developers Ltd. for sale of the said property for a consideration of Rs.10,05,00,000/-. The above fact was found during ...
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