PCIT v. Abhisar Buildwell (P.) Ltd. (2023) 294 Taxman 70/ 332 CTR 729/ 225 DTR 497 (SC) Editorial : Refer, PCIT v. Abhisar Buildwell P. Ltd. (2023)454 ITR 212/ 293 Taxman 141/ 332 CTR 385/ 225 DTR 105 (SC)

S. 153A : Assessment-Search or requisition-Total income-Completed Assessments remain unabated -No addition permissible for such years in absence of incriminating material having been found in search – Completed or unabated assessments can be reopened under Section 147 or 148 of the Act-Miscellaneous application of Revenue is dismissed. [2(45), 131, 132, 132A, 143(1), 143(3), 147, 148, 150(2), 285BA]

Revenue preferred Miscellaneous Application seeking clarification of order passed in Pr. CIT v. Abhisar Buildwell (P.) Ltd. [2023] 149 taxmann.com 399 (SC) and submitted that waiver of limitation as stipulated in section 150(2) was to be read in respect of date of issue of notice for reassessment under section 148 and that even though appeals of revenue were dismissed in respect of assessments passed under 153A and 153C, in respect of such income which was found to have escaped assessment other than through incriminating material, Assessing Officers would be entitled to reassess such income in terms of section 147/148 read with section 150  of the Act. Court held that  prayers sought could be said to be in form of review which would require detail consideration at length looking into importance of matter. Accordingly the  application in form of clarification was not  entertained and revenue was to be relegated to file an appropriate review application seeking reliefs which were sought in the  application.