https://www.taxtmi.com/caselaws?id=434814 The Tribunal ruled in favor of the Assessee, declaring the assessment order passed under Sections 147 and 148 as illegal and void ab initio. It emphasized that the Assessing Officer should have proceeded under Sections 153A and 153C due to the incriminating material found during the search, revealing undisclosed income exceeding Rs. 50 lakhs. The Tribunal also found jurisdictional issues, stating that the transfer of jurisdiction was not done in accordance with legal provisions, rendering the assessment order void. The additions made under Section 68 were deemed incorrect as they should have been assessed under Section 153A. en-us Tue, 28 Feb 2023 00:00:00 +0530 Fri, 03 Mar 2023 18:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434814 The Tribunal ruled in favor of the Assessee, declaring the assessment order passed under Sections 147 and 148 as illegal and void ab initio. It emphasized that the Assessing Officer should have proceeded under Sections 153A and 153C due to the incriminating material found during the search, revealing undisclosed income exceeding Rs. 50 lakhs. The Tribunal also found jurisdictional issues, stating that the transfer of jurisdiction was not done in accordance with legal provisions, rendering the assessment order void. The additions made under Section 68 were deemed incorrect as they should have been assessed under Section 153A. Case-Laws Income Tax Tue, 28 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434814