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October 2024

Reassessment —Search and seizure —Assessment in search cases — Jurisdiction — Assessment of third person — Reassessment based on incriminating material and information collected prior to and post search — Permissible only u/s. 153C — Failure to assess within time limit for assessment u/s. 153C — Reassessment cannot be made u/s. 147 — Notices and orders set aside.

By Keshav Bhujle | Ritu Punjabi, Advocates
Reading Time 3 mins

48 Tirupati Construction Co. vs. ITO

[2024] 465 ITR 611 (Raj)

A. Ys. 2016-17, 2017-18

Date of order: 21st March, 2024

Ss. 132, 147, 148, 148A, 148A(b), 153A, 153B and 153C of ITA 1961

Reassessment —Search and seizure —Assessment in search cases — Jurisdiction — Assessment of third person — Reassessment based on incriminating material and information collected prior to and post search — Permissible only u/s. 153C — Failure to assess within time limit for assessment u/s. 153C — Reassessment cannot be made u/s. 147 — Notices and orders set aside.

The assessee was a firm. The Delhi High Court allowed the writ petitions filed by the assesse against the notices for reassessment u/s. 148A and section 148 of the Income-tax Act, 1961 and held as under:

“i) Where the basis for reassessm

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