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section 132

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Updated Return of Income under Income-tax Act

Income Tax : Understand the concept of Updated Return under the Income-tax Act, its necessity, tax implications, and filing process. Get insigh...

March 11, 2024 2013 Views 0 comment Print

Overview of Section 132: Search and Seizure under Income Tax Act

Income Tax : Explore Section 132 of the Income Tax Act, detailing search and seizure powers, authorizations, examinations, and rules for a tran...

January 30, 2024 1581 Views 0 comment Print

Tax authorities must follow proper procedures for handling & preserving electronic data

Income Tax : Explore the Supreme Courts insights on Section 153C of the Income Tax Act, emphasizing due process. Learn key takeaways, including...

February 23, 2023 1725 Views 0 comment Print

Exclusion of 15 day period for issuance of section 148 notice in Search cases

Income Tax : In cases where a search under section 132 is initiated or a search for which the last of the authorization is executed or requisit...

February 5, 2023 4947 Views 0 comment Print

Assistance to authorised officer during Income Tax search & seizure

Income Tax : During search authorised officer, may requisition services of any other person or entity, as approved by PCIT or CCIT, Principal ...

February 5, 2023 2091 Views 0 comment Print


Latest News


Finance Head of a firm arrested for GST evasion to the tune of Rs 88 crore

Goods and Services Tax : The Ministry of Finance reports the arrest of a firm's finance head for GST evasion worth Rs 88 crore. Learn about the case and it...

March 7, 2024 1557 Views 0 comment Print

CBDT directed to re-opening of all cases under the search and seizure label and those claimed deduction u/s. 80IB, 80A

Income Tax : The Central Board of Direct Taxes ( CBDT) has directed re-opening of all cases under the search and seizure label, income-escapin...

August 28, 2009 946 Views 0 comment Print


Latest Posts in section 132

Section 148A Procedure Not Applicable in Cases Covered by Section 132A: Kerala HC

March 24, 2024 495 Views 0 comment Print

Explore Muhammed C K Vs ACIT case, challenging notices under Section 148 of Income Tax Act. Analysis of legal procedure and High Court ruling.

Time limit for completing assessment will start from document handing over date even when AO of searched and other person is same

March 23, 2024 384 Views 0 comment Print

Madras High Court held that even if AO of both searched person and other person is same, for completing Assessment proceedings and passing the Assessment order has to be calculated from the date on which the documents were handed over or deemed to have been handed over to the AO of the “other person”.

Andhra Pradesh HC Denies Police Custody in Rs. 8 Crore GST Scam Case

March 22, 2024 180 Views 0 comment Print

Read the detailed judgment of Andhra Pradesh High Court dismissing a petition seeking police custody for a TDP leader’s son in an Rs. 8 crore GST-ITC scam case.

Disallow Only Profit Element on Bogus Purchases: ITAT Mumbai

March 20, 2024 1032 Views 0 comment Print

Discover Mumbai ITAT order on Capacite Infra Projects Ltd Vs DCIT, analyzing disallowance of non-genuine/Bogus purchases and its implications on tax assessment.

CIT(A) Cannot Add New Source of Income Without Enhancement Notice

March 20, 2024 330 Views 0 comment Print

In the case of Mandeep Singh Anand Vs ACIT, the Income Tax Appellate Tribunal (ITAT) Delhi ruled that the Commissioner of Income Tax (Appeals) cannot add a new source of income without issuing an enhancement notice. Get insights into the case and the tribunal’s decision.

Excess stock found during survey is undeclared business income and not unexplained investment: ITAT Chandigarh

March 20, 2024 297 Views 0 comment Print

ITAT Chandigarh held that excess stock found during the course of survey cannot be brought to tax under the deeming provisions of section 69B of the Income Tax Act as the same is undeclared business income and not unexplained investment.

ITAT Deletes Jewellery Addition, Considering Assessee’s family Background & professional standing

March 20, 2024 483 Views 0 comment Print

Read the ITAT Delhi’s decision in Mudita Chaturvedi Vs ACIT case, where the addition of jewellery under section 69 is deleted, citing it as Stri Dhan from parents.

Section 68 not apply to outgo or payment on account of expenditure

March 20, 2024 1524 Views 0 comment Print

ITAT Delhi in Feather Infotech Pvt. Ltd. Vs DCIT held that Section 68 is inapplicable to expenditure as same applies to credit in books of account

Mere Retracted Statement without nexus Insufficient for Section 69A Addition

March 19, 2024 264 Views 0 comment Print

Mumbai ITAT rules that a retracted statement without nexus to the taxpayer cannot justify addition under Sec 69A, offering relief to the appellant in Mayur Kanjibhai Shah Vs ITO.

Retracted Statement Doesn’t Justify Treating Currency Derivative Loss as Bogus

March 19, 2024 102 Views 0 comment Print

DCIT Vs Delight Suppliers Pvt. Ltd. case by ITAT Kolkata, where currency derivative loss was deemed genuine and safe harbour rule of 5% under Section 50C was allowed.