Reassessment Quashed for Using Section 147 Instead of Mandatory Section 153C

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Somnath Ramdas Jadhav Vs ITO (ITAT Pune)

Information Emerged During Search Mandates Action u/s 153C, Not u/s 147: Pune ITAT Holds Reopening Invalid—

Pune Tribunal examined the legality of reassessments framed u/s 147 r.w.s 144/144B & penalties u/s 271(1)(c). AO had reopened the assessments on the basis of information unearthed during a search u/s 132 at M/s Shri Renuka Mata Multistate Credit Society Ltd., where Assessee’s substantial cash deposits (Rs. 50,51,750/- for AY 2013-14) were revealed. Since Assessee failed to file returns or respond to notices, AO treated t

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