https://www.taxtmi.com/caselaws?id=358210 The Tribunal ruled in favor of the assessee, declaring the assessment under Section 143(3) read with Section 147 as invalid. It held that Section 153C should have been applied instead of Section 147, as incriminating materials found during a search on a third party necessitated assessment under Section 153C. Consequently, the notice issued under Section 148 was quashed. The issue of adding Rs. 35,00,000 as unexplained investment was not extensively addressed as the primary ground of appeal was decided in favor of the assessee, rendering the addition issue moot. en-us Wed, 04 Apr 2018 00:00:00 +0530 Sat, 07 Apr 2018 07:57:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358210 The Tribunal ruled in favor of the assessee, declaring the assessment under Section 143(3) read with Section 147 as invalid. It held that Section 153C should have been applied instead of Section 147, as incriminating materials found during a search on a third party necessitated assessment under Section 153C. Consequently, the notice issued under Section 148 was quashed. The issue of adding Rs. 35,00,000 as unexplained investment was not extensively addressed as the primary ground of appeal was decided in favor of the assessee, rendering the addition issue moot. Case-Laws Income Tax Wed, 04 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358210