income tax search

Budget 2017: Non disclosure of reason to search to cause undue hardship to genuine assessee

Income Tax - It is proposed to insert an Explanation to section 132(1), 132(1A) and 132A(1) to declare that the reason to believe or reason to suspect, as the case may be, shall not be disclosed to any person or any authority or the Appellate Tribunal. The proposed amendment could lead to unnecessary harassment of taxpayers....

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Budget 2017: In case of Search Assessment notice can be issued for 10 Years

Income Tax - In order to protect the interest of the revenue in cases where tangible evidence(s) are found during a search or seizure operation (including 132A cases) and the same is represented in the form of undisclosed investment in any asset, it is proposed that section 153A relating to search assessments be amended to provide that notice under th...

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Budget 2017: Centralised issuance of notice & processing of information U/s.133C

Income Tax - It is proposed to amend section 133C to empower the Central Board of Direct Taxes to make a scheme for centralised issuance of notice calling for information and documents for the purpose of verification of information in its possession, processing of such documents and making the outcome thereof available to the Assessing Officer for nec...

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Budget 2017 reduces time limits for completion of search assessment

Income Tax - The existing provisions of section 153B provide for the time limit for completion of assessment under section 153A....

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Enjoy Diwali with crackers of Income Tax

Income Tax - In Income tax biggest cracker is the cracker that explodes in 6 different ways, we call it as Six Shots and that cracker is of SEARCH OR RAID. ...

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ITD searches about 2534 groups of persons

Income Tax - ITD conducted searches in about 2534 groups of persons led to admission of undisclosed income of about Rs. 45,622 crore apart from seizure of undisclosed assets (cash, jewellery etc) worth about Rs. 3,625 crore ...

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IT Raid & Survey detects undisclosed income of Rs.58568 Crore

Income Tax - IT Dept searches 1242 groups of assessees, seizing undisclosed assets worth Rs.2,029 Crore. Such assessees admitted undisclosed income of Rs.28,567 Crore. ...

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CBDT Clarifies Regarding Prosecution of Tax Evaders

Income Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in Effective and Stringent Action only in known and big cases of Tax Evasion to Demonstrate to the Large Number of Compliant Tax Payers that the Tax Laws are just and Fair and to Encourage Voluntary Tax Compliance It has been noticed […]...

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DCI Search and Seizure Operations Reveal Undisclosed Income of Rs. 438 Crore

Income Tax - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in DCI Search and Seizure Operations Reveal Undisclosed Income of Rs. 438 CroreThe Directorate of Criminal Investigation (DCI) was created vide Notification dated 30th May, 2011 and 19th August 2011 to perform functions in respect of criminal mat...

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CItywise detail of Income tax Search in last 3 and half years

Income Tax - The Income tax Department conducts search and seizure operations based on the credible companies, association of ‘persons’ which includes individuals, hindu undivided families (HUFs), firms, companies, association of persons (AoPs), body of individuals (BoIs), local authorities and any artificial juridical person who are in possession...

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In absence of incriminating material found during search concluded assessments cannot be reopened U/s. 153A

Pr. Commissioner of Income Tax Vs. Meetu Gutgutia (Delhi High Court) - Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in A perusal of the common order of the ITAT shows that it first dealt with one common ground raised by the Assessee in all its appeals which concerned the jurisdictional issue of the validity of the invoca...

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Concealed income found during search and Survey is to be distributed among all family members

CIT Vs Rekha Bai (Supperme Court of India) - We have heard the learned counsel for the parties and perused the impugned order dated 14th December,2005 passed by the High Court of Judicature at Madras. The High Court has dismissed the appeal filed under Section 260A of the Income Tax Act,1961 on the ground that no substantial question of law ar...

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Assessment u/s 153A is Limited to search related income only

Principal Commissioner of Income Tax Vs Dipak J Panchal (Gujarat High Court at Ahmedabad) - It is held that the Assessing Officer while framing the assessment under Section 153A of the Act for the block period may make addition considering the incriminating material found for the year under consideration only which was collected during the search....

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Concluded assessments cannot be disturbed in absence of any incriminating material

Smt.Binnaifer Kohli Vs Asstt. Commissioner of Income Tax (ITAT Mumbai) - In terms of section 153A of the Act, the already finalised assessment can only be disturbed if the search team has found some incriminating documents or material and which was relied upon by the AO at the time of framing the assessment or the addition is made in the order passed under section 143(3)...

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In absence of incriminating documents addition cannot be made based on Mere voluntary disclosure

Chetnaben J Shah vs. ITO (Gujarat High Court) - Learned Counsel for the respondent has taken this Court to Section 132(4) of the Act and contended that the statement made during the search is required to be accepted and the retraction was made after a very long time. The reasoning of the Assessing Officer was confirmed by the Tribunal and there...

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SC ask details of cases where validity of search & seizure questioned

F.No. ADG-II/ Supreme Court Cell/ 1711/2011/ - (05/01/2017) - SC has desired that it be informed regarding number & details of such cases pending before High Courts and Tribunals wherein the Courts/Tribunals have questioned validity of search and seizure operations...

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Assessment of preceding years in search cases during election period

Circular No. 10/2012-Income Tax - (31/12/2012) - Circular No. 10/2012-Income Tax As per provisions contained in section 153A and 153C of the Income Tax Act, 1961, the Assessing Officer is required to issue notice for assessing or reassessing the total income for six assessment years immediately preceding the assessment year relevant to the previo...

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income tax search’s Popular Posts

Recent Posts in "income tax search"

In absence of incriminating material found during search concluded assessments cannot be reopened U/s. 153A

Pr. Commissioner of Income Tax Vs. Meetu Gutgutia (Delhi High Court)

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in A perusal of the common order of the ITAT shows that it first dealt with one common ground raised by the Assessee in all its appeals which concerned the jurisdictional issue of the validity of the invocation of Section 153A of […]...

Read More

Concealed income found during search and Survey is to be distributed among all family members

CIT Vs Rekha Bai (Supperme Court of India)

We have heard the learned counsel for the parties and perused the impugned order dated 14th December,2005 passed by the High Court of Judicature at Madras. The High Court has dismissed the appeal filed under Section 260A of the Income Tax Act,1961 on the ground that no substantial question of law arises....

Read More

ITD searches about 2534 groups of persons

ITD conducted searches in about 2534 groups of persons led to admission of undisclosed income of about Rs. 45,622 crore apart from seizure of undisclosed assets (cash, jewellery etc) worth about Rs. 3,625 crore ...

Read More
Posted Under: Income Tax |

Assessment u/s 153A is Limited to search related income only

Principal Commissioner of Income Tax Vs Dipak J Panchal (Gujarat High Court at Ahmedabad)

It is held that the Assessing Officer while framing the assessment under Section 153A of the Act for the block period may make addition considering the incriminating material found for the year under consideration only which was collected during the search....

Read More

Budget 2017: Non disclosure of reason to search to cause undue hardship to genuine assessee

It is proposed to insert an Explanation to section 132(1), 132(1A) and 132A(1) to declare that the reason to believe or reason to suspect, as the case may be, shall not be disclosed to any person or any authority or the Appellate Tribunal. The proposed amendment could lead to unnecessary harassment of taxpayers....

Read More
Posted Under: Income Tax |

Concluded assessments cannot be disturbed in absence of any incriminating material

Smt.Binnaifer Kohli Vs Asstt. Commissioner of Income Tax (ITAT Mumbai)

In terms of section 153A of the Act, the already finalised assessment can only be disturbed if the search team has found some incriminating documents or material and which was relied upon by the AO at the time of framing the assessment or the addition is made in the order passed under section 143(3) r.w.s.153A of the Act by referring to s...

Read More

In absence of incriminating documents addition cannot be made based on Mere voluntary disclosure

Chetnaben J Shah vs. ITO (Gujarat High Court)

Learned Counsel for the respondent has taken this Court to Section 132(4) of the Act and contended that the statement made during the search is required to be accepted and the retraction was made after a very long time. The reasoning of the Assessing Officer was confirmed by the Tribunal and therefore, no interference is called for by t...

Read More

Budget 2017: In case of Search Assessment notice can be issued for 10 Years

In order to protect the interest of the revenue in cases where tangible evidence(s) are found during a search or seizure operation (including 132A cases) and the same is represented in the form of undisclosed investment in any asset, it is proposed that section 153A relating to search assessments be amended to provide that notice under th...

Read More
Posted Under: Income Tax |

Budget 2017: Centralised issuance of notice & processing of information U/s.133C

It is proposed to amend section 133C to empower the Central Board of Direct Taxes to make a scheme for centralised issuance of notice calling for information and documents for the purpose of verification of information in its possession, processing of such documents and making the outcome thereof available to the Assessing Officer for nec...

Read More
Posted Under: Income Tax |

Budget 2017 reduces time limits for completion of search assessment

The existing provisions of section 153B provide for the time limit for completion of assessment under section 153A....

Read More
Posted Under: Income Tax |
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