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Search-Based Addition Cannot Be Made Through Reassessment; ITAT Quashes Entire Assessment
Case Law Details
- Case Name
- Nanne Gulzar & Company Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Mumbai
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Nanne Gulzar & Company Vs ACIT (ITAT Mumbai)
Search-Based Addition Cannot Be Made Through Reassessment; ITAT Quashes Entire Assessment
In a significant ruling, the Mumbai ITAT held that where the very foundation of an addition is material unearthed during a search, the Assessing Officer cannot bypass the special provisions of section 153C and proceed under sections 147/148. The Tribunal quashed the reassessment proceedings against the assessee, observing that the additions were entirely based on search material, statements recorded during search, and information gathered from the search co...
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