Reassessment proceedings u/s 148 stood abated by virtue of search action u/s 132(1)

Meha Jain Vs DCIT (ITAT Indore)

ITAT Indore held that reassessment proceedings initiated u/s 148 stood abated by virtue of search and seizure action u/s 132(1). Hence, reassessment order passed thereon u/s 147 is illegal.

Facts- The regular assessment of the assessee was completed u/s. 143(3) on 29.12.2010 and thereafter the assessment was reopened u/s. 148 on 22.03.2013. The reassessment proceedings were pending and in the meantime, there was a search and seizure action u

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