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 : 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 : Income Tax Department conducted search and seizure operations on a business group operating largely in North Bengal region of the ...
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...
We heard the rival contentions. Before proceeding in this matter, we feel it is better to analyse the decision of Honb’le Madras ITAT decision in the case of Sivabala Devi, supra, as both the assessee and Ld. CIT(A) have placed their reliance on it. In that case, the appellant had furnished certain information regarding — her investments, sources thereof and the na
Income Tax (I-T) officials today carried out search operations at the offices of infrastructure major Gammon India in four cities. A company spokesperson told PTI that some officials had visited the premises but “we do not know what is happening”According to sources, I-T officials have been carrying out the search in four offices of the company in Delhi, Mumbai, Nagpur and Vadodara. “The search started in the morning and is going on,” a source said.
The Income Tax Department has carried out search operations at companies engaged in real estate business, I-T department sources said here today. Over 50 premises including business and residence of five builders are being searched by more than 250 I-T sleuths, sources said, adding some of the business premises in Ahmedabad are also being searched.
The Income Tax (I-T) department seems to have mastered the art of getting more for less. No strong-arm tactics here; it is just that the department has improved what it calls the effectiveness of its search operations through better targeting.
The sources of income should be stated irrespective of whether the income there from is taxable or not. The answer be given with regard to the sources as exist on the date of recording of the statement including the source which might have come into existence after the last return was filed. If any such source is not disclosed and evidence is gathered during the search about its existence, it may lead to an allegation of attempt to evade taxes.
In connection with search and seizure operations against the R group of companies, the Commissioner of Income-tax after hearing the assessees passed a reasoned order directing transfer of the cases of the assessees from the Income-tax Officers at Kolkata to Patna.
Chapter XIII of the Income-Tax Act, 1961 (the Act), deals with “Income-Tax Authorities”. Part –‘C’ of this Chapter deals with “Powers” of the income-tax authorities. Section (‘S.’ for short) 131 deals with “Power regarding discovery, production of evidence, etc.”. Section 132 deals with “Search and seizure”. Section 13 2A deals with “Powers to requisition books of account, etc.” and S.1 32B deals with “Application of seized or requisitioned assets”
Explore the Kerala High Court judgment in CIT vs. Shri. C. Najeeb regarding penalty on income determined under Section 158BC of the Income Tax Act. Discover key questions of law, such as whether the Tribunal’s decision to levy income tax on 15% of total receipts is correct. Dive into the intricacies of assessment and penalty proceedings, including insights on undisclosed income, civil liability, and the interpretation of Section 158BFA. Uncover the court’s findings, providing clarity on the computation of undisclosed income and the imposition of penalties in this significant tax case.
