Income Tax : Explore Section 132 of the Income Tax Act, detailing search and seizure powers, authorizations, examinations, and rules for a tran...
Income Tax : Core issue involved in the appeals is the scope of assessment u/s 153A. question posed for consideration is, as to whether in resp...
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...
Income Tax : During search authorised officer, may requisition services of any other person or entity, as approved by PCIT or CCIT, Principal ...
Finance : In Finance Bill 2023 Finance Minister recommended significant though few changes relating to Income Tax Search & Seizure ...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : In-depth analysis of the Income Tax Department crackdown in Chhattisgarh, uncovering a Rs. 13 crore scam involving a PEP, associat...
Income Tax : Ministry of Finance reveals Income Tax Department's massive search operation exposing a major tax evasion scheme in Mumbai's elect...
Income Tax : Income Tax Department's recent searches reveal tax evasion schemes by contractors, leading to unaccounted cash and asset creation....
Income Tax : Recent Income Tax search operation in Kashmir Valley exposes a prominent business group's substantial tax evasion in sectors inclu...
Income Tax : Explore Section 153A of Income Tax Act, its implications, and judicial interpretations. Learn about search proceedings, panchnama,...
Income Tax : Delhi High Court dismisses the Income Tax Departments appeal against Meera Gupta for Assessment Years 2009-10, 2011-12 & 2013-14, ...
Income Tax : In respect of completed/unabated assessments, no addition can be made in absence of any incriminating material found during search...
Income Tax : Madras HC declares search at Anil Jain's residence and office illegal. Jurisdictional issues raised. Reference to Section 120 and ...
Income Tax : SC held that amendment to Section 153C vide Finance Act, 2015 shall be applicable to searches conducted under Section 132 before 0...
Income Tax : The Income Tax Department carried out searches on 14.12.2020 in a group case from Erode in Tamil Nadu, covering 15 premises at Ero...
Income Tax : The Income Tax Department carried out search and seizure operations on 13.12.2020 in the case of a Chandigarh based listed pharmac...
Income Tax : The related concerns of the assessee group are involved in financing, money lending and real estate development. The unaccounted t...
Income Tax : The Income Tax Department has carried out searches at 5 locations in Chennai and Madurai on 4.11.2020 in the case of a Chennai bas...
Income Tax : The Income Tax Department has carried out search and seizure operations on 05.11.2020 in the case of a well-known self-styled evan...
The Income Tax Department conducted search and seizure operation on 17.02.2021 on 09 major Trusts registered in Bengaluru & Mangaluru, which are running educational institutes including medical colleges. Searches were conducted at 56 different locations across Karnataka and Kerala.
The Income Tax Department carried out search and seizure operation on a group based in Eluru on 28.01.2021 at 21 different locations across Andhra Pradesh and Telangana. The group entities are engaged in Film Financing, Aqua Culture, Real estate, Distribution of Films and Money Lending.
The Income Tax Department carried out search and survey operations on a group based in Mumbai on 08.02.2021. This group is mainly engaged in the business of manufacturing of Gutkha, Pan masala and allied substances, besides having operations in hospitality sector. The searches were carried out across many locations in India and concluded on 13.02.2021.
Income Tax Department carried out search and seizure action on 05.02.2021 on various groups based in Kolkata, engaged in the business of Pharmaceutical manufacturing, diagnostic services and hospitals. The cases were developed based on the available data in the departmental database, analysis of their financial statements, market intelligence and field enquiries. Search and seizure action was carried out at more than 17 premises at Kolkata, Haridwar and Bhubaneswar.
The Income Tax Department carried out search and seizure operation on a major liquor manufacturer group based in Bengaluru on 09.02.2021 at 26 different locations across India.
Under the Act, the provisions related to income escaping assessment provide that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may assess or reassess or recompute the total income for such year under section 147 of the Act by issuing a […]
Income Tax Department carried out search and survey action on 29.01.2021 in the cases of three leading businesses of Assam. The groups are engaged in construction, contracting and business of tea garden. The search and survey actions were carried out at 20 locations in Guwahati, Delhi, Gurugram, Kolkata, Siliguri Alipurduar, Tezpur and Nalbari (Assam).
Finance Bill 2021- Paradigm Shift In The Provisions Relating To Income Tax Search And Seizure Assessments And Income Tax Settlement Commission Introduction:- The Hon’ble Union Finance Minister Nirmala Sitharaman has presented the Union Budget 2021 of India on the 1st of February, 2021. Budget 2021 is aimed at reviving an economy that plunged into deepest […]
The Income Tax Department carried out search and seizure action on 29.01.2021 on the group based in Kolkata, engaged in the business of manufacturing of iron & steel and tea.
Income Tax Search and Seizure & Income Tax Settlement Commission (ITSC)- Detection of any undisclosed income subsequent to the final order of ITSC Introduction:- Chapter XIX – A of Income Tax Act, 1961 provides for settlement of cases. Income Tax Settlement Commission was set up in the year 1976 on the recommendation of Direct Tax […]
