Reassessment under sections 147 and 148 remains available where section 153C conditions are not met, if reopening procedure is followed.

Where the jurisdictional requirements for section 153C are not satisfied, recourse to reassessment under sections 147 and 148 is not barred by the non obstante clause in section 153C. The Tribunal noted that information from the Investigation Wing could validly support reopening when the Assessing Officer followed the prescribed reopening procedure. The objection that proceedings ought to have been taken only under section 153C was rejected, and reassessment jurisdiction under sections 147 and 148 was upheld.

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Issues: Whether reassessment proceedings under section 147 of the Income-tax Act, 1961 were validly initiated despite the assessee's contention that proceedings ought to have been taken under section 153C of the Act.

Analysis: The assessee's challenge was confined to jurisdiction. The Tribunal noted that where the conditions for invoking section 153C are not satisfied, the non obstante clause in that provision does not bar recourse to section 147. Relying on the binding judicial view that reassessment under section 147 remains available in such circumstances, and noting that the Assessing Officer had followed the prescribed procedure for reopening, the Tribunal held that the information received from the Investigation Wing validly supported initiation of proceedings under sections 147 and 148.

Conclusion: The reassessment jurisdiction under sections 147 and 148 was upheld and the objection based on section 153C was rejected, against the assessee.

Ratio Decidendi: Failure to satisfy the jurisdictional requirements for section 153C does not exclude the operation of section 147, and reassessment may be validly initiated where the statutory procedure for reopening is otherwise complied with.

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