ITAT Quashes Reassessment as Search-Based Material Required Action Under Section 153C, Not Section 148

Sh. Bachan Singh Urf Gurbachan Singh Vs DCIT (ITAT Amritsar) The ITAT Amritsar heard three appeals relating to different assessees for Assessment Year 2009-10. Since the issues involved were common, the appeals were decided through a common order. The principal issue raised by the assessees was that the assessments had been framed under Sections 147/148 of the Income Tax Act, whereas the proceedings should have been initiated under Section 153C because the material forming the basis of the assessment was discovered during a search conducted on a third party, namely Shri Neeraj Puri. The Assess...