Section 153A

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 cases u/s. 132 of the IT Act, 1961. The Assessing Officer in this section allowed to assess income of an assessee for previous six assessment years preceding assessment year in which search […]...

Read More

Law Relating to Incriminating Evidence in Search and Surveys

Income Tax - On the conclusion of search/survey, the assessment of preceding 6 years is reopened u/s 153A. As per the plain reading of 153A, the assessments earlier made in respect of these years stand abated i.e. shall stand nullified and new proceedings afresh would be done u/s 153A again....

Read More

Income Tax Search and Seizure: Controversy in computing period of limitation to frame search assessments

Income Tax - The period of limitation for completion of assessment u/s 153A of the Income Tax Act’ 1961 for the searches conducted on or before 31st Day of March’2021 is governed by the provisions of Section 153B of the act. Even though the Section 153A of the Income Tax Act’ 1961 has been made non applicable for the searches initiated on or aft...

Read More

Whether any incriminating material found during Search on any other person can be considered in Section 153A assessment of assessee

Income Tax - Whether any incriminating material found during the course of an Income Tax Search on any other person can be considered in the assessment under Section 153A of the assessee – A study Introduction: Section 153A provides the procedure for completion of assessment in case of a person where a search is initiated under Section 132 [&hel...

Read More

New Procedure for Income escaping & search assessments

Income Tax - 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 […]...

Read More
Sorry No Post Found

Section 153A Assessment cannot be arbitrary & must have nexus with seized material

PCIT Vs LKG Builders P. Ltd. (Delhi High Court) - PCIT Vs LKG Builders P. Ltd. (Delhi High Court) Court is of the opinion that the questions of law raised in present appeals have been settled by earlier Division Bench in CIT Vs. Kabul Chawla (supra) and assessment of the respondents had attained finality prior to the date of search and no incrimina...

Read More

If no incriminating material found during Search- Section 68 additions not sustainable

Amitbhai Manubhai Kachadiya Vs DCIT (ITAT Surat) - Since no incriminating material was found during the course of search, as regards the additions made u/s.68 of the Income Tax Act, therefore, no additions could be made....

Read More

Issuance of Section 143(2) notice mandatory in Section 153A proceedings

ACIT Vs Dr. P. S. Prasad (ITAT Hyderabad) - ACIT Vs Dr. P. S. Prasad (ITAT Hyderabad) Learned CIT-DR vehemently reiterated the Revenue’s foregoing pleadings that the issuance of Section 143(2) notice is nowhere mandatory in Section 153A proceedings initiated in furtherance to a search in light of the various case law cited therein. We find ...

Read More

No addition based on evidence which is not confronted to the assessee

DCIT Vs Rashmi Float Glass Ltd. (ITAT Kolkata) - DCIT Vs Rashmi Float Glass Ltd. (ITAT Kolkata) We find that the only addition made is of share application received u/s 68 of the Act and addition of commission paid allegedly for the share application money and finally a disallowance u/s 14A of the Act. No incriminating material has been found duri...

Read More

Section 148 Assessment instead of under Section 153A/153C- HC Grants Stay

Tirupati Construction Company Vs Income Tax Office & Anr. (Rajasthan High Court) - The pertinent assertion of learned counsel Shri Gargieya is that the assessing authority could not have adopted the procedure provided under Section 148 of the Income Tax Act for reopening the assessment of the petitioner because such action was taken on the basis of facts revealed to the assessing ...

Read More

Selection of Case of Search Years in ITBA Assessment module

TBA - Assessment Instruction No. 12 - (12/09/2019) - Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search Years’ in Assessment module of Income Tax Business Application (ITBA)- reg. ITBA – Assessment Instruction No. 12 DIRECTORATE OF INCOME TAX (SYSTEM) ARA Cente...

Read More

Recent Posts in "Section 153A"

Section 153A Assessment cannot be arbitrary & must have nexus with seized material

PCIT Vs LKG Builders P. Ltd. (Delhi High Court)

PCIT Vs LKG Builders P. Ltd. (Delhi High Court) Court is of the opinion that the questions of law raised in present appeals have been settled by earlier Division Bench in CIT Vs. Kabul Chawla (supra) and assessment of the respondents had attained finality prior to the date of search and no incriminating documents or […]...

Read More

If no incriminating material found during Search- Section 68 additions not sustainable

Amitbhai Manubhai Kachadiya Vs DCIT (ITAT Surat)

Since no incriminating material was found during the course of search, as regards the additions made u/s.68 of the Income Tax Act, therefore, no additions could be made....

Read More

Issuance of Section 143(2) notice mandatory in Section 153A proceedings

ACIT Vs Dr. P. S. Prasad (ITAT Hyderabad)

ACIT Vs Dr. P. S. Prasad (ITAT Hyderabad) Learned CIT-DR vehemently reiterated the Revenue’s foregoing pleadings that the issuance of Section 143(2) notice is nowhere mandatory in Section 153A proceedings initiated in furtherance to a search in light of the various case law cited therein. We find no merit in the Revenue’s instant grie...

Read More

No addition based on evidence which is not confronted to the assessee

DCIT Vs Rashmi Float Glass Ltd. (ITAT Kolkata)

DCIT Vs Rashmi Float Glass Ltd. (ITAT Kolkata) We find that the only addition made is of share application received u/s 68 of the Act and addition of commission paid allegedly for the share application money and finally a disallowance u/s 14A of the Act. No incriminating material has been found during the course of […]...

Read More

Section 148 Assessment instead of under Section 153A/153C- HC Grants Stay

Tirupati Construction Company Vs Income Tax Office & Anr. (Rajasthan High Court)

The pertinent assertion of learned counsel Shri Gargieya is that the assessing authority could not have adopted the procedure provided under Section 148 of the Income Tax Act for reopening the assessment of the petitioner because such action was taken on the basis of facts revealed to the assessing authority during the assessment of DRA G...

Read More

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

As you are aware that provisions of Section 153A of the Income Tax Act, 1961 deals with assessment of an assessee in searched cases u/s. 132 of the IT Act, 1961. The Assessing Officer in this section allowed to assess income of an assessee for previous six assessment years preceding assessment year in which search […]...

Read More
Posted Under: Income Tax |

Addition is unsustainable if no incriminating material found during search

DCIT Vs Mapsa Tapes Pvt. Ltd. (ITAT Delhi)

DCIT Vs Mapsa Tapes Pvt. Ltd. (ITAT Delhi) Facts-Assessment u/s 153C was challenged on the grounds that assessment order dated 31.3.2016 u/s 153C/143(3) was passed without dropping the proceedings initiated vide notice dated 8.9.2015 under section 153A of the Act and disposing off the objection filed by the assessee to initiation of asses...

Read More

Law Relating to Incriminating Evidence in Search and Surveys

On the conclusion of search/survey, the assessment of preceding 6 years is reopened u/s 153A. As per the plain reading of 153A, the assessments earlier made in respect of these years stand abated i.e. shall stand nullified and new proceedings afresh would be done u/s 153A again....

Read More
Posted Under: Income Tax |

Income Tax Search and Seizure: Controversy in computing period of limitation to frame search assessments

The period of limitation for completion of assessment u/s 153A of the Income Tax Act’ 1961 for the searches conducted on or before 31st Day of March’2021 is governed by the provisions of Section 153B of the act. Even though the Section 153A of the Income Tax Act’ 1961 has been made non applicable for the searches initiated on or aft...

Read More
Posted Under: Income Tax |

Section 153A assessment invalid if section 153D approval granted in Mechanical manner

Arch Pharmalabs Ltd. Vs ACIT (ITAT Mumbai)

Approval granted by superior authority in mechanical manner solely relying upon the implied undertaking obtained from AO in the form of draft assessment order, defeated the very purpose of obtaining approval under section 153D and consequently, impugned assessment relatable to search was non est and a nullity and was, therefore, quashed...

Read More

Browse All Categories

CA, CS, CMA (6,014)
Company Law (8,224)
Custom Duty (9,152)
DGFT (4,765)
Excise Duty (4,685)
Fema / RBI (5,127)
Finance (5,533)
Income Tax (40,726)
SEBI (4,425)
Service Tax (3,933)

Search Posts by Date

May 2022
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031