https://www.taxtmi.com/caselaws?id=462321 ITAT Kolkata held that assessments under Section 153A require incriminating material recovered during search operations under Section 132 or requisition under Section 132A, following SC precedent in Abhisar Buildwell case. The AO must consider appropriate action under Sections 147/148 in conjunction with Section 150 provisions, which lifts limitation periods for reopening assessments based on orders from tax authorities and appellate bodies. The tribunal directed strict compliance with Section 150(1) and adherence to CBDT Instruction No. 1/2003 implementing the Abhisar Buildwell ruling. The assessee's appeal was allowed. en-us Fri, 27 Sep 2024 00:00:00 +0530 Tue, 10 Jun 2025 18:57:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462321 ITAT Kolkata held that assessments under Section 153A require incriminating material recovered during search operations under Section 132 or requisition under Section 132A, following SC precedent in Abhisar Buildwell case. The AO must consider appropriate action under Sections 147/148 in conjunction with Section 150 provisions, which lifts limitation periods for reopening assessments based on orders from tax authorities and appellate bodies. The tribunal directed strict compliance with Section 150(1) and adherence to CBDT Instruction No. 1/2003 implementing the Abhisar Buildwell ruling. The assessee's appeal was allowed. Case-Laws Income Tax Fri, 27 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462321