Court held that when a notice is issued pursuant to a search under section 132, for assessment under section 153A, all pending proceedings with respect to a regularly initiated assessment or reassessment would stand abated. For these years, the proceedings under section 153A would be continued and the assessments concluded on that basis. However, when and if the assessment proceeded with and concluded under section 153A is set aside by the statutory authorities or by the High Court, then necessarily the original proceedings which stood abated would revive, which is the enabling provision under sub-section(2) of section 153A . There can be no corollary inferred from these provisions to find certain years to be of “concluded assessment” being possible of re-assessment only on incriminating material recovered in search relating to that year. (AY. 2002-03 , 20003-04)
CIT v. K. P. Ummer, Prop. Star Rolling Mill. (2019) 413 ITR 251 / 177 DTR 379 / 308 CTR 613(Ker.)(HC)
S. 153A : Assessment – Search- Assessment not dependent on recovery of incriminating material during search in respect of pending assessment-Provision of S. 153A is a non obstacle clause having overriding effect over sections 139, 147, 151, 153 and 158 of the Act. [S. 147, 151, 153, 158]