https://www.taxtmi.com/caselaws?id=772520 The ITAT Kolkata held that reassessment proceedings under section 147 were invalid when initiated based on incriminating material found during search of third party premises. Following the precedent in Girish Chandra Sharma case, the tribunal ruled that section 153C provisions should apply when material is seized from third party premises, not section 147 reassessment procedures. The notice under section 148 and subsequent assessment under section 143(3) read with section 147 were declared legally invalid. The assessee's appeal was allowed. en-us Thu, 29 May 2025 00:00:00 +0530 Tue, 10 Jun 2025 08:43:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772520 The ITAT Kolkata held that reassessment proceedings under section 147 were invalid when initiated based on incriminating material found during search of third party premises. Following the precedent in Girish Chandra Sharma case, the tribunal ruled that section 153C provisions should apply when material is seized from third party premises, not section 147 reassessment procedures. The notice under section 148 and subsequent assessment under section 143(3) read with section 147 were declared legally invalid. The assessee's appeal was allowed. Case-Laws Income Tax Thu, 29 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772520