https://www.taxtmi.com/caselaws?id=755912 ITAT AMRITSAR held that reassessment proceedings under section 147 were wrongly invoked where the case was framed on material found in search and the proper route was section 153C, not section 148. The Tribunal found the revisional order under section 263 infirm because the revisional authority failed to demonstrate that the AO's order was erroneous or passed without application of mind; prior related assessments had considered the seized ledger and noted inability to identify creditors. Consequently the section 263 order was quashed and decision was in favour of the assessee. en-us Wed, 10 Jul 2024 00:00:00 +0530 Mon, 08 Sep 2025 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755912 ITAT AMRITSAR held that reassessment proceedings under section 147 were wrongly invoked where the case was framed on material found in search and the proper route was section 153C, not section 148. The Tribunal found the revisional order under section 263 infirm because the revisional authority failed to demonstrate that the AO's order was erroneous or passed without application of mind; prior related assessments had considered the seized ledger and noted inability to identify creditors. Consequently the section 263 order was quashed and decision was in favour of the assessee. Case-Laws Income Tax Wed, 10 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755912