The Assessing Officer reopened the assessment on the basis of information received from the Dy. Director IT(Inv) and not on the basis of the search conducted on the assessee. On appeal the CIT(A) quashed the reassessment on the ground that reassessment proceedings can be initiated only under section. 153A of the Act and not under section 147 of the Act. On appeal the Tribunal held that reassessment was not initialled on the basis of search but on the basis of information received from the Dy. Director IT(Inv). Accordingly the order of CIT(A) is set aside and directed the CIT(A) to decide on merits in accordance with law. (AY. 2013-14)
Dy. CIT v. Ramesh Kumar Jain (2023) 226 TTJ 58 (Mum)(Trib)
S. 147 : Reassessment-Search and seizure-Information from DDI (Inv)-CIT(A) has quashed the reassessment on the ground that the assessment should have been farmed under section. 153A/ 153C of the Act-Reassessment was not done on the basis of search-Order of CIT(A) is set aside with the direction to decide a afresh in accordance with law.[ S. 132, 148,153A, 153C]