https://www.taxtmi.com/caselaws?id=753117 The Rajasthan HC ruled in favor of the assessee, holding that reassessment proceedings initiated under Sections 147/148/148A were invalid when based on material collected during search of third party premises. The court determined that such reassessment must be conducted under Section 153C read with Section 153A, not under Section 148A/148. Since the search occurred in 2016 and authorities failed to initiate proceedings under Section 153C within the prescribed limitation period under Section 153B, they improperly invoked Section 148/148A provisions to circumvent the time bar, rendering the reassessment legally impermissible. en-us Thu, 21 Mar 2024 00:00:00 +0530 Fri, 24 May 2024 22:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753117 The Rajasthan HC ruled in favor of the assessee, holding that reassessment proceedings initiated under Sections 147/148/148A were invalid when based on material collected during search of third party premises. The court determined that such reassessment must be conducted under Section 153C read with Section 153A, not under Section 148A/148. Since the search occurred in 2016 and authorities failed to initiate proceedings under Section 153C within the prescribed limitation period under Section 153B, they improperly invoked Section 148/148A provisions to circumvent the time bar, rendering the reassessment legally impermissible. Case-Laws Income Tax Thu, 21 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753117