ITAT Dismisses Revenue’s Appeal as Reassessment Under Section 147/148 Invalid Due to Third-Party Search Evidence [Read Order]

The Jaipur Bench of Income Tax Appellate Tribunal(ITAT) dismissed the Revenue’s appeal, holding that reassessment under Section 147/148 of Income Tax Act,1961 was invalid due to reliance on third-party search evidence. The Revenue-appellant, appealed against the order passed by  Commissioner of Income Tax(Appeals)[CIT(A)] dated 18.07.2024. In this case, Kailash Chand Hirawat, respondent-assessee,was reassessed after the…