Section 153A

Enforceability of Section 153A/ Section 153C –An Analysis

Income Tax - Section 153 A of the Income-tax Act, 1961 provides for the scheme of assessment of income in case of a searched person. In terms of the said section, the Assessing Officer can frame assessment of a searched person for six assessment years immediately preceding the year of search. One of such facet is whether while […]...

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Rationalisation of time limit for assessment in search cases

Income Tax - It is proposed to amend the time limit for completion of assessments made under section 153A or section 153C cases to bring it in sync with the new time limits provided for other cases. In order to simplify the provisions of existing section 1 53B by retaining only those provisions that are relevant to the current provisions of the Act, s...

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Principles & Procedures of Assessment u/s 153C

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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Restrictions on scope of Section 153A and Judicial pronouncements

Income Tax - Introduction-: 1.    Search u/s 132 is the sharpest weapon in the hands of Income Tax Dept. Thus a sharpest weapon must be used with great care as well. The law, as developed, in relation to section 153A is with the SOLE objective to achieve the purpose of safeguarding the interest of revenue and the rights […]...

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Section 153C Assessment of income of a person other than the person in whose case search has been initiated

Income Tax - Section 153C- Budget 2015- Assessment of income of a person other than the person in whose case search has been initiated or books of account, other documents or assets have been requisitioned Section 153C of the Act relates to assessment of income of any other person. The existing provisions contained in sub-section (1) of the […]...

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Addition invalid when no incriminating material was unearthed during search

ACIT Vs Varun Beverages Ltd. (ITAT Delhi) - Addition in respect of completed assessments u/s 153A be made solely on the basis of post search enquiry when no incriminating material was unearthed during search is not valid. ...

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Addition not justified in section 153A assessments where no incriminating material found

DCIT Vs United Stock Exchange of India Ltd. (ITAT Mumbai) - Additions could not be made in respect of assessments already completed if no incriminating material was found during search or during 153A proceedings....

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Return filed in response to notice U/s. 153A(1)(a) eligible for Section 139(3) benefits

Shrikant Mohta Vs CIT (Calcutta High Court) - Where no return was filed by assessee within statutory mandated time and the obligation to file any return remains suspended till such time that a notice was issued for such purpose under section 153A(1)(a), such return would be deemed to have been filed within the time permitted under section 139(1...

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In absence of incriminating material Completed assessments could not be interfered by AO during assessment U/s. 153A

ATS Infrastructure Ltd. Vs ACIT (ITAT Delhi) - ATS Infrastructure Ltd. Vs ACIT (ITAT Delhi) Completed assessments can be interfered with while making assessment under section 153A only on the basis of some incriminating material unearthed during search or requisition of documents or undisclosed income or property discovered in the course of sear...

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Penalty cannot be imposed based on Original Return in Section 153A Assessment

M/s OSE Infrastructure Ltd. Vs ACIT (ITAT Delhi) - M/s OSE Infrastructure Ltd. Vs ACIT (ITAT Delhi) When the revised return is accepted and the income is assessed as per the revised income, there is no scope for penalty. In the case of Kirit Dahyabhai Patel vs ACIT, (2017) 80 Taxmann.com 162 (Guj), the Hon’ble High Court held that in view of spe...

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Section 153A’s Popular Posts

Recent Posts in "Section 153A"

Addition invalid when no incriminating material was unearthed during search

ACIT Vs Varun Beverages Ltd. (ITAT Delhi) - 

Addition in respect of completed assessments u/s 153A be made solely on the basis of post search enquiry when no incriminating material was unearthed during search is not valid. ...

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Posted Under: Income Tax | | ,

Addition not justified in section 153A assessments where no incriminating material found

DCIT Vs United Stock Exchange of India Ltd. (ITAT Mumbai) - 

Additions could not be made in respect of assessments already completed if no incriminating material was found during search or during 153A proceedings....

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Posted Under: Income Tax | | ,

Return filed in response to notice U/s. 153A(1)(a) eligible for Section 139(3) benefits

Shrikant Mohta Vs CIT (Calcutta High Court) - 

Where no return was filed by assessee within statutory mandated time and the obligation to file any return remains suspended till such time that a notice was issued for such purpose under section 153A(1)(a), such return would be deemed to have been filed within the time permitted under section 139(1) and benefit under section 139(3) could...

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Posted Under: Income Tax | | ,

In absence of incriminating material Completed assessments could not be interfered by AO during assessment U/s. 153A

ATS Infrastructure Ltd. Vs ACIT (ITAT Delhi) - 

ATS Infrastructure Ltd. Vs ACIT (ITAT Delhi) Completed assessments can be interfered with while making assessment under section 153A only on the basis of some incriminating material unearthed during search or requisition of documents or undisclosed income or property discovered in the course of search which were not produced or not alread...

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Posted Under: Income Tax | | ,

Penalty cannot be imposed based on Original Return in Section 153A Assessment

M/s OSE Infrastructure Ltd. Vs ACIT (ITAT Delhi) - 

M/s OSE Infrastructure Ltd. Vs ACIT (ITAT Delhi) When the revised return is accepted and the income is assessed as per the revised income, there is no scope for penalty. In the case of Kirit Dahyabhai Patel vs ACIT, (2017) 80 Taxmann.com 162 (Guj), the Hon’ble High Court held that in view of specific provision of Section […]...

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Posted Under: Income Tax | | ,

Enforceability of Section 153A/ Section 153C –An Analysis

Section 153 A of the Income-tax Act, 1961 provides for the scheme of assessment of income in case of a searched person. In terms of the said section, the Assessing Officer can frame assessment of a searched person for six assessment years immediately preceding the year of search. One of such facet is whether while […]...

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Posted Under: Income Tax |

Document related to transactions recorded in books cannot be considered as incriminating material

Lord Krishna Dwellers (P) Ltd. Vs DCIT (ITAT Delhi) - 

Advocate Akhilesh Kumar Sah Lord Krishna Dwellers (P) Ltd. Vs DCIT (ITAT Delhi) Lord Krishna Dwellers case: Purchases of land reflected in the seized sale deeds duly recorded in the regular books of account, documents seized relating to same during the course of search cannot be considered as incriminating material, enabling AO to procee...

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Assessment U/s. 153A invalid in absence of valid search at assessee’s business premises

Regency Mahavir Properties v. ACIT (ITAT Mumbai) - 

Where valid search was not conducted at assessee’s business premises then until and unless AO assumes valid jurisdiction under section 153A, assessment, therefore, made in consequence of notice issued under section 153A, was invalid and void ab initio....

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Assumption of jurisdiction U/s. 153A invalid if No incriminating material found

Moon Beverages Ltd. Vs. ACIT (ITAT Delhi) - 

Since no assessment was pending on the date of search and addition had been made on basis of post-search enquiries and statements recorded under section 132(4) on various persons, therefore, AO had no power to assume jurisdiction under provisions of section 153A as no incriminating material was found....

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Deduction U/s. 80-IA Claimed through return filed U/s. 153A instead of revised return cannot be denied

Pr. CIT Vs. Vijay Infrastructure Ltd. (Allahabad High Court) - 

Pr. CIT Vs. Vijay Infrastructure Ltd. (Allahabad High Court) Since the time limit for filing the revised return had not expired during the relevant year, therefore, claim for deduction under section 80-IA if not made earlier could have been made in the revised return. Once it could have been claimed in the revised return under […]...

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