https://www.taxtmi.com/caselaws?id=766323 The Bombay HC held that reassessment proceedings under Section 147/148 based on materials seized during search operations under Section 132 are invalid and without jurisdiction. The court ruled that when incriminating material is found during search, Revenue must proceed under Section 153A, and when no incriminating material is found, reassessment powers under Section 147/148 are preserved only if not based on seized materials. Since the reassessment notice was founded on materials gathered from search action against a related party, the court quashed the proceedings, following Supreme Court precedent in Abhisar Buildwell case. en-us Tue, 18 Feb 2025 00:00:00 +0530 Tue, 03 Mar 2026 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766323 The Bombay HC held that reassessment proceedings under Section 147/148 based on materials seized during search operations under Section 132 are invalid and without jurisdiction. The court ruled that when incriminating material is found during search, Revenue must proceed under Section 153A, and when no incriminating material is found, reassessment powers under Section 147/148 are preserved only if not based on seized materials. Since the reassessment notice was founded on materials gathered from search action against a related party, the court quashed the proceedings, following Supreme Court precedent in Abhisar Buildwell case. Case-Laws Income Tax Tue, 18 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766323