S. 153A order void if s. 132 search warrant in improper status. Assessee can retract admission of undisclosed income

Dr. Mansukh Kanjibhai Shah Vs. ACIT (ITAT Ahmedabad) A survey u/s 133A was conducted on 28.10.04 at the premises of a charitable trust of which the assessee was the managing trustee. The assessee admitted unaccounted income of Rs. 1.93 crores. Search u/s 132 was conducted on 29.10.2004 and cash of Rs. 1.93 crores was found and seized. The search warrant was in the names of “K. M. Shah Charitable Trust, Mansukhbhai K. Shah” (the trust and the assessee). The assessee retracted the admission on 24.12.2004. An assessment order u/s 153A was passed in which the said sum was assessed in the hands...