Section 153C

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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Principles & Procedures of Assessment u/s 153C dealt comprehensively by Delhi HC

Income Tax - a person other than the person referred to in section 153A, then, the books of account or documents or assets, seized or requisitioned shall be handed over to the Assessing Officer having jurisdiction over such other person ] and that Assessing Officer shall proceed against ...

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Scope of additions that can be made in a pending assessment and in a completed assessment pursuant to a search u/s 132

Income Tax - Completed assessments can be interfered with by the AO while making the assessment under Section 153 A only on the basis of some incriminating material unearthed during the course of search or requisition of documents or undisclosed income or property discovered in the course...

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Amendment proposed by union budget 2010 in Provisions dealing with Settlement Commission

Income Tax - Entire scheme of the eligibility, powers and procedure before the settlement commission was overhauled by Finance Act, 2007, w.e.f. 1.6.2007. In the overhauled scheme, search / requisition cases covered by the provisions of section 153A of the Act were not allowed to take benefit of the settlement commission. It also excluded the cases of...

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Sec. 153C: Documents found during Search must belong to Assessee

CIT Vs M/s Arpit Land Pvt. Ltd. (Bombay High Court) - Requirement of Section 153C of the Act cannot be ignored at the alter of suspicion. The Revenue has to strictly comply with Section 153C of the Act. We are of the view that non satisfaction of the condition precedent viz. the seized document must belong to the respondent – assessee is a jurisdicti...

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Recording of satisfaction u/s 153C is mandatory even if searched person & assessee are under common jurisdiction

Principle CIT Vs Nikki Drugs & Chemicals Pvt. Ltd. (Delhi High Court) - Delhi High Court held In the case of Principle CIT vs. Nikki Drugs & Chemicals Pvt. Ltd. that the Allahabad High Court in the case of Commissioner of Income Tax v. Gopi Apartments: (2014) 365 ITR 411 (All.) has held that even in cases where the assessing officer of the person searched and the assess...

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Where no satisfaction was recorded by AO at the time of search, revenue cannot attain jurisdiction over other person

ACIT Vs Shivaansh Advertising & Publications Pvt. Ltd. (ITAT Delhi) - In the case of ACIT Vs. Shivaansh Advertising & Publications Pvt. Ltd. Delhi Bench of ITAT observed the requirements of section 153C provides for taking recourse to assessment in respect of any other person and held the conditions precedent are...

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Recording of satisfaction mandatory prior to issuing notice u/s 153C & it should not be vague

M/s. Parshwa Corporation Vs DCIT (ITAT Ahmedabad) - ITAT Ahmedabad in the case of M/s. Parshwa Corporation Vs. DCIT observed the basic necessities & condition for issuing notice u/s 153 C and it was held that it is mandatory to follow the procedure prescribed under the section i.e. (1) Satisfaction is to be recorded by the Assessing Officer of the pe...

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Search at house of partner cannot be deemed as search on assessee firm

ACIT Vs S.P.Cold Storage (ITAT Raipur) - ACIT Vs. S.P.Cold Storage (ITAT Raipur)- Mere mentioning of name in Search Warrant & Panchanama not sufficient for contemplating search against the assessee firm, Search at the residential premises of the Partners could not be deemed to be a search on the assessee firm...

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Recent Posts in "Section 153C"

Sec. 153C: Documents found during Search must belong to Assessee

CIT Vs M/s Arpit Land Pvt. Ltd. (Bombay High Court)

Requirement of Section 153C of the Act cannot be ignored at the alter of suspicion. The Revenue has to strictly comply with Section 153C of the Act. We are of the view that non satisfaction of the condition precedent viz. the seized document must belong to the respondent – assessee is a jurisdictional issue and non satisfaction thereof ...

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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 |

Recording of satisfaction u/s 153C is mandatory even if searched person & assessee are under common jurisdiction

Principle CIT Vs Nikki Drugs & Chemicals Pvt. Ltd. (Delhi High Court)

Delhi High Court held In the case of Principle CIT vs. Nikki Drugs & Chemicals Pvt. Ltd. that the Allahabad High Court in the case of Commissioner of Income Tax v. Gopi Apartments: (2014) 365 ITR 411 (All.) has held that even in cases where the assessing officer of the person searched and the assessee who is sought to be assessed under Se...

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Where no satisfaction was recorded by AO at the time of search, revenue cannot attain jurisdiction over other person

ACIT Vs Shivaansh Advertising & Publications Pvt. Ltd. (ITAT Delhi)

In the case of ACIT Vs. Shivaansh Advertising & Publications Pvt. Ltd. Delhi Bench of ITAT observed the requirements of section 153C provides for taking recourse to assessment in respect of any other person and held the conditions precedent are...

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Recording of satisfaction mandatory prior to issuing notice u/s 153C & it should not be vague

M/s. Parshwa Corporation Vs DCIT (ITAT Ahmedabad)

ITAT Ahmedabad in the case of M/s. Parshwa Corporation Vs. DCIT observed the basic necessities & condition for issuing notice u/s 153 C and it was held that it is mandatory to follow the procedure prescribed under the section i.e. (1) Satisfaction is to be recorded by the Assessing Officer of the persons searched;...

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Search at house of partner cannot be deemed as search on assessee firm

ACIT Vs S.P.Cold Storage (ITAT Raipur)

ACIT Vs. S.P.Cold Storage (ITAT Raipur)- Mere mentioning of name in Search Warrant & Panchanama not sufficient for contemplating search against the assessee firm, Search at the residential premises of the Partners could not be deemed to be a search on the assessee firm...

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Proceedings u/s 153C not valid in absence of any relevant seized material

CIT Vs M/s Refam Management Services (P) Ltd. (Delhi High Court)

Delhi High Court held In the case of CIT vs. M/s Refam Management Services (P) Ltd. that under Section 153C the assessment or reassessment of income of a person other than a searched person would proceed in accordance with the provisions of Section 153A....

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Notice u/s 153C invalid if no satisfaction been recorded by Assessing Officer

M/s Shiv Associates Vs DCIT (ITAT-Ahmedabad)

ITAT-Ahmedabad In the case of M/s Shiv Associates v DCIT quashed the notice u/s 153C relying on the Judgment of the similar case related to the assessee in which the notices u/s 153C were quashed as no satisfaction was recorded by the AO....

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Search Warrant against Members of HUF cannot be deemed to be also against HUF

Shri Govind G. Sarawagi HUF Vs ACIT (ITAT Ahmedabad)

Shri Govind G. Sarawagi HUF Vs. ACIT (ITAT Ahmedabad)- Name of the HUF, who is separate taxable entity, is no where available in the Panchnama. It is also pertinent to note that all the members of the HUF were not covered under the search action....

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Principles & Procedures of Assessment u/s 153C dealt comprehensively by Delhi HC

CIT Vs RRJ Securities Ltd. (Delhi High Court)

a person other than the person referred to in section 153A, then, the books of account or documents or assets, seized or requisitioned shall be handed over to the Assessing Officer having jurisdiction over such other person ] and that Assessing Officer shall proceed against ...

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