AI OCR 
TaxTMI 
TaxTMI 
TaxTMI 
2023 (11) TMI 1311
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....Act") to the Third Member, consequent upon the difference of opinion having arisen between the Accountant Member and the Judicial Member to decide the respective questions framed by the Members. 2. The Hon'ble Third Member vide order dated 09/10/2023 decided the respective questions framed by the Judicial Member and the Accountant Member as under: "31. Having heard the parties and having considered the material on record, at the outset, I find the matter to be covered by the decision of the Supreme Court in the case of Pr. CIT Vs Abhisar Buildwell P. Ltd." judgement dated 24.04.2023, passed in Civil Appeal No. 6580 of 2021 and other connected appeals. Therein, their Lordships of the Supreme Court have held that prior to insertio....
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....disclosed income by undertaking extraordinary power of search and seizure, i.e., the income which cannot be detected in the ordinary course of regular assessment; that thus, the foundation for making search assessments under Sections 153A/153C can be said to be the existence of incriminating material showing undisclosed income detected as a result of search; that on a plain reading of Section 153A of the Act, 1961, it is evident that once search or requisition is made, a mandate is cast upon the AO to issue notice under Section 153 of the Act to the person, requiring him to furnish the return of income in respect of each assessment year falling within six assessment years immediately preceding the assessment year relevant to the previous ye....
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....period; that the intention does not seem to be to re-open the completed/unabated assessments, unless any incriminating material is found with respect to concerned assessment year falling within last six years preceding the search; that therefore, on a true interpretation of Section 153A of the Act, 1961, if in case of a search under Section 132 or a requisition under Section 132A, any incriminating material is found, even in case of unabated/completed assessment, the AO would have the jurisdiction to assess or reassess the 'total income' taking into consideration the incriminating material collected during the search and other material which would include income declared in the returns, if any, furnished by the assessee as well as the undis....
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....f incriminating material, the AO would assume the jurisdiction to assess or reassess the total income for the entire six years' block assessment period even in case of completed/unabated assessment; that as per the second proviso to Section 153A, only pending assessment/reassessment shall stand abated and the AO would assume the jurisdiction with respect to such abated assessment; that it does not provide that all completed/unabated assessments shall abate; that if the submission on behalf of the Revenue is accepted, in that case, the second proviso to Section 153A and sub- section (2) of Section 153A would be redundant and/or it would amount to re-writing the said provisions, which is not permissible under the law. 32. While holding as ....
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....ound during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened by the AO in exercise of powers under Sections 147/148 of the Act, subject to fulfilment of the conditions as envisaged/mentioned under sections 147/148 of the Act and those powers are saved. 33. It was in view of the conclusion so arrived at, that the appeals and Review Petition filed by the Department were dismissed by the Hon'ble Supreme Court in "Abhisar Buildwell P. Ltd.". 34. In view of the above detailed reasoned judgement rendered by the Hon'ble Supreme Court in "Abhisar Buildwell P. Ltd." (supra), Question No. 1 raised before us, i.e., as to whether th....