Order of assessment in respect of six years stands reopened

IT : Once proceedings under section 153A is initiated pursuant to search, order of assessment in respect of six years stands reopened and, therefore, in absence of any valid assessment order in existence, revisional proceedings under section 263 cannot be initiated in such a case
IT : Condition precedent for application of section 153A is that there should be a search under section 132, however, initiation of proceedings is not dependent on any undisclosed income being unearthed during such search
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[2014] 49 taxmann.com 98 (Karnataka)
HIGH COURT OF KARNATAKA
Canara Housing Development Co.
v.
Deputy Commissioner of Income-tax, Central Circle-I(1), Bangalore*
N. KUMAR AND B. MANOHAR, JJ.
IT APPEAL NO. 38 OF 2014†
JULY  25, 2014
Section 153A, read with section 263, of the Income-tax Act, 1961 - Search and seizure - Assessment in case of search or requisition (Conditions precedent) - Assessment year 2008-09
- Whether once proceedings under section 153A is initiated, pursuant to search, order of assessment in respect of six years stands reopened and, therefore, in absence of any valid assessment order in existence, revisional proceedings under section 263 cannot be initiated in such a case - Held, yes [Paras 10 and 11] [In favour of assessee]
Section 153A, read with section 132, of the Income-tax Act, 1961 - Search and seizure - Assessment in case of search or requisition (Conditions precedent) - Assessment year 2008-09 - Whether condition precedent for application of section 153A is that there should be a search under section 132, however, initiation of proceedings is not dependent on any undisclosed income being unearthed during such search - Held, yes [Para 10]