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Section 153A

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Section 153A & 153C of Income Tax Act: Analysis & Implications

Income Tax : Delve into the provisions of Income Tax Act Sections 153A & 153C, governing assessments after search or requisition. Learn from co...

February 8, 2024 3129 Views 0 comment Print

Uttarakhand HC Quashes FIR U/S 153A IPC: No Proof of Disharmony

Corporate Law : Explore recent Uttarakhand High Court judgment quashing an FIR under Section 153A IPC. Analysis reveals lack of evidence for disha...

December 30, 2023 294 Views 0 comment Print

Completed/Unabated Assessments – No Addition if no Incriminating Material Found During Search: SC

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...

April 25, 2023 2706 Views 0 comment Print

Budget 2023 aligns timeline under section 153 of Income Tax Act

Income Tax : Budget 2023 aligns timeline under section 153 of Income Tax Act. Learn more about the 2016 Finance Acts reduced assessment order p...

February 5, 2023 14985 Views 0 comment Print

Some Important Facts Related To Assessment Under Section 153A of Income Tax Act, 1961

Income Tax : As you are aware that provisions of Section 153A of the Income Tax Act, 1961 deals with assessment of an assessee in searched case...

March 4, 2022 20388 Views 0 comment Print


Latest Judiciary


Action under Section 153C cannot be based solely on Survey Material

Income Tax : Mumbai ITAT clarifies that action under section 153C can't be based solely on survey material. Detailed analysis of the case and i...

April 16, 2024 336 Views 0 comment Print

Reassessment of completed assessment Without Incriminating Material Untenable: Delhi HC

Income Tax : Delhi High Court held that a reopening or abatement would be triggered only upon the discovery of material which is likely to “h...

April 12, 2024 945 Views 0 comment Print

Section 14A: AO Must records Discontent with Assessee’s Expenditure Claim with Cogent Reasons

Income Tax : Bombay High Court ruling: Assessing Officer (AO) must record dissatisfaction with Assessee's claim regarding expenditure. Detailed...

April 11, 2024 300 Views 0 comment Print

Section 271(1)(c) Penalty Unsustainable if Quantum addition Deleted

Income Tax : In a case of DCIT Vs Milan Kavin Parikh, ITAT Mumbai dismisses Revenue's appeal against deletion of penalty under Section 271(1)(c...

April 9, 2024 312 Views 0 comment Print

Vested right of person cannot be affected by retrospective legislation: Bombay HC

Income Tax : Bombay High Court held that retrospective legislation cannot deprive a person of an accrued right vested in him under a statute or...

April 5, 2024 399 Views 0 comment Print


Latest Notifications


Selection of Case of Search Years in ITBA Assessment module

Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...

September 12, 2019 2043 Views 0 comment Print


Latest Posts in Section 153A

Action under Section 153C cannot be based solely on Survey Material

April 16, 2024 336 Views 0 comment Print

Mumbai ITAT clarifies that action under section 153C can’t be based solely on survey material. Detailed analysis of the case and its implications.

Reassessment of completed assessment Without Incriminating Material Untenable: Delhi HC

April 12, 2024 945 Views 0 comment Print

Delhi High Court held that a reopening or abatement would be triggered only upon the discovery of material which is likely to “have a bearing on the determination of the total income”. Thus, AO seeking to reassess completed assessment without incriminating material is untenable in law.

Section 14A: AO Must records Discontent with Assessee’s Expenditure Claim with Cogent Reasons

April 11, 2024 300 Views 0 comment Print

Bombay High Court ruling: Assessing Officer (AO) must record dissatisfaction with Assessee’s claim regarding expenditure. Detailed analysis of PCIT-2 Vs Tata Capital Ltd case.

Section 271(1)(c) Penalty Unsustainable if Quantum addition Deleted

April 9, 2024 312 Views 0 comment Print

In a case of DCIT Vs Milan Kavin Parikh, ITAT Mumbai dismisses Revenue’s appeal against deletion of penalty under Section 271(1)(c) of the Income Tax Act, 1961, as the quantum addition was deleted.

Vested right of person cannot be affected by retrospective legislation: Bombay HC

April 5, 2024 399 Views 0 comment Print

Bombay High Court held that retrospective legislation cannot deprive a person of an accrued right vested in him under a statute or under the Constitution.

AO Can’t Tax Husband for Business Income taxed to Wife during Scrutiny

April 5, 2024 396 Views 0 comment Print

In the case of Ketan Prabhulal Dalsaniya Vs DCIT, ITAT Indore rules that once the business income of the wife is accepted during scrutiny, the AO cannot tax the husband again, stating the wife wasn’t the one carrying the business.

CIT(A) Cannot disbelieve Cash Book Solely Based on General Practice

April 4, 2024 306 Views 0 comment Print

Mool Chand Aggarwal Vs ACIT (ITAT Delhi) CIT(A) cannot disbelieve cash book only on the ground that ‘generally individuals do not maintain cash book and it is not mandatory to maintain cash book for the individual’.

AO cannot disallow interest expense on Mere Presumption without disproving supporting evidences

April 4, 2024 198 Views 0 comment Print

The case pertained to the disallowance of interest amounting to Rs. 1,16,82,953/- paid on an unsecured loan. This ruling sheds light on the meticulous examination of evidence and the importance of substantiating claims in tax matters.

Section 68 Addition Unjustified if Shares’ Purchase & Sale Validated by Evidence: ITAT Mumbai

April 2, 2024 603 Views 0 comment Print

ITAT Mumbai held that addition under section 68 of the Income Tax Act unsustainable as assessee has established the genuineness of purchase and sale of shares by producing documentary evidence and transaction of purchase and sale of shares is done via banking channel.

Order passed against non-existent entity is liable to be quashed: ITAT Delhi

April 2, 2024 378 Views 0 comment Print

ITAT Delhi held that passing of an order in the name of an entity which has merged with another entity will make the order void ab initio. Accordingly, the impugned assessment order passed in the name of a non-existent entity is void ab initio and hence liable to be quashed.