Allowing the appeal the Tribunal held that the AO r had acted on the basis of the information received from the Investigation Wing of the Department and had not independently verified from the record available to him in the form of the return filed by the assessee. So there was only suspicion of some income having escaped assessment which could not by itself be sufficient to sustain the action under S.\u00a0147\u00a0read with S.\u00a0148 of the Act . The reopening in the assessee\u2019s case by the Assessing Officer was merely based on the borrowed satisfaction drawn from other cases which was not sufficient for the purposes of sustaining any addition made under S.\u00a0147\u00a0read with S. \u00a0148\u00a0. If any action was required to be done on the basis of certain documents found from other persons during the course of search the assessment could have been framed under\u00a0 S. \u00a0153C\u00a0but no such action was taken in the assessee\u2019s case. Rather the action was taken indirectly under S. \u00a0147\u00a0read with S. \u00a0148\u00a0 of the Act .\u00a0 If any material was found relating to the assessee during the course of search on third parties the correct course of action would have been to proceed against the assessee under S. \u00a0153C\u00a0and there was no justification for the Assessing Officer to initiate the proceedings under S. \u00a0147\u00a0read with S. \u00a0148\u00a0. The order of the AO was set aside and quashed.( AY.2011-12 to 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147 : Reassessment \u2013 Search and seizure \u2014 Information received from investigation wing \u2014Not independently verified from record \u2014Correct course of action would have been to proceed under section. 153C and not under section 147 \u2013 Reassessment was quashed [ S. 132, 148 ,153C ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-13095","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3pd","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13095","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=13095"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13095\/revisions"}],"predecessor-version":[{"id":13096,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13095\/revisions\/13096"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=13095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=13095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=13095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}