TaxTMI 
TaxTMI 
2026 (8) TMI 963
X X X X Extracts X X X X
X X X X Extracts X X X X
....y the Assessing Officer u/s. 147 r.w.s 144 of the Act by bringing entire amount of alleged cash seized of Rs. 28,00,000/- as unexplained money u/s. 69A of the Act. 3. On the facts and circumstances of the case, the Ld.CIT(A) erred in not considering the fact that the notice issued u/s. 148 of the I.T. Act issued by the Jurisdictional Assessing Officer is without proper jurisdiction and hence invalid by stating that the jurisdiction of the AO flows from the centralilisation under u/s. 127 and the assessment has been reopened by following due procedural compliance. 4. On the facts and circumstances of the case, the Ld.CIT(A) would have appreciated that the notice issued u/s. 148 of the Act should have been issued in faceless manner and however the same was issued by the Jurisdictional Assessing Officer. 5. On the facts and circumstances of case, the Ld.CIT(A) also not justified in upholding the assessment finalised consequent upon such invalid notice issued u/s. 148 of the I.T. Act as legal and valid. 6. On the facts and circumstances of case, the Ld.CIT(A) is not justified in rejecting the plea of the appellant that Assessment Year 2019-20 is sear....
X X X X Extracts X X X X
X X X X Extracts X X X X
....hich expires before 01.04.2021. Therefore, the amended provisions of section 148 are not applicable in the case of the assessee. 4. On the other hand, the Ld.DR has submitted that as per section 124(3)(c), the assessee cannot challenge the jurisdiction of the AO after one month from the issuance of notice u/s. 143(2) of the Act. He has further submitted that as per the amended provisions of section 148A and section 148 read with Explanation 2 to section 148, the only recourse for the AO pursuant to search and seizure action for requisition u/s. 132A of the Act is to reopen the assessment by issuing notice u/s. 148 of the Act. He has relied upon the orders of the authorities below. 5. We have considered the rival submissions as well as the material on record. The assessee was intercepted by the Flying squad team during the election period and was found with cash of Rs. 28 lakhs on 27.11.2018. Thereafter, the Department issued a warrant u/s. 132A for requisition and seizure of the cash on 29.11.2018. As per the provisions of section 132A read with section 153A of the Act as existed at that point of time, it is mandatory for the AO to initiate proceedings u/153A of the Act by is....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ding the assessment year relevant to the previous year in which search is conducted or requisition is made and for the relevant assessment year or years: Provided also that no notice for assessment or reassessment shall be issued by the Assessing Officer for the relevant assessment year or years unless- (a) the Assessing Officer has in his possession books of account or other documents or evidence which reveal that the income, represented in the form of asset, which has escaped assessment amounts to or is likely to amount to fifty lakh rupees or more in the relevant assessment year or in aggregate in the relevant assessment years; (b) the income referred to in clause (a) or part thereof has escaped assessment for such year or years; and (c) the search under section 132 is initiated or requisition under section 132A is made on or after the 1st day of April, 2017. Explanation 1.-For the purposes of this sub-section, the expression "relevant assessment year" shall mean an assessment year preceding the assessment year relevant to the previous year in which search is conducted or requisition is made which falls beyond six assessment years but....
X X X X Extracts X X X X
X X X X Extracts X X X X
....y of limitation u/s. 153B of the Act, the said limitation cannot be extended by resorting to subsequent amendment u/s. 148 of the Act. Even otherwise, Explanation to section 148 is applicable only in case when search and seizure u/s. 132 or requisition u/s. 132A is conducted on or after 01.04.2021. Accordingly, in the facts and circumstances of the case, when the AO has already lost his power by afflux of time to initiate and pass the assessment order u/s. 153A of the Act, he cannot be allowed to resort to subsequent inserted provisions of section 148A and 148 of the Act. The contention of the Ld.DR that the assessee cannot raise objection against the jurisdiction of the AO u/s. 124(3) is not relevant because the assessee is not challenging the jurisdiction of the AO to assess the income of the assessee, but the assessee has challenged the proceedings initiated by the AO u/s. 148 of the Act pursuant to the requisition u/s. 132A of the Act. Therefore, the order of the AO is challenged for not following the procedure for the assessment pursuant to the requisition u/s. 132A of the Act as existed and applicable at the relevant point of time. Accordingly, we do not find any substance or....