Section 153A

Key Amendments & Highlights under New Faceless Assessment Scheme

Income Tax - This write-up is all about the key amendments introduced by the Hon’ble CBDT vide Notification No. 60 dated 13.08.2020 and Notification No. 61 dated 13.08.2020 modifying the earlier ‘E-assessment Scheme, 2019’ notified on 12.09.2019 and highlights of scheme....

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Analysis of Issues In Income Tax Search & Seizure Operations

Income Tax - Article covers 5 Issues In Income Tax Search & Seizure Operations which includes Issues In Income Tax Search & Seizure Operations  Search Assessment 1. Where the Assessing Officer of the Searched and Other Person Is Same 2. Whether the Assessee Can Lodge the New Claims, Claim Deductions and claim Reliefs 3. Whether Notice Under S...

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Income tax Search & Seizure : Whether a New Claim can be raised in Income tax Return Filed U/S 153A

Income Tax - Introduction: The provisions of assessment in the case of search u/s. 153A etc. have been inserted by the Finance Act, 2003 with effect from 01.06.2003. These provisions are successor of the special procedure for assessment of search cases under Chapter XIV-B starting with section 158B. Whereas Chapter XIV-B required the assessment of “...

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Jurisdiction Free Assessment under Income Tax Act, 1961

Income Tax - This article is covering in depth knowledge of various types of Jurisdictions, Various types of Assessments under Income Tax Act, 1961 and details of new system i.e. Jurisdiction-Free Assessment which was introduced from 2016. Jurisdiction is prescribed under Section 124 of the Income-tax Act, 1961 and assessment includes Summary assessme...

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Various Assessments Under The Income Tax Law

Income Tax - Every taxpayer has to furnish the details of his income to the Income-tax Department. These details are to be furnished by filing up his return of income. Once the return of income is filed up by the taxpayer, the next step is the processing of the return of income by the Income Tax Department. The […]...

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No penalty for duly disclosed  transactions reflected in seized dairies in Returns pursuant to Section 153A notice

Jayant B Patel HUF Vs DCIT (ITAT Mumbai) - Jayant B Patel HUF Vs DCIT (ITAT Mumbai) (a) No penalty under Explanation-5 to Section 271(1)(c) of the Act could be levied in respect of undisclosed income found in the course of search but which were duly returned by the assessee in the return filed u/s.153A of the Act together with compliance of ...

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No penalty on additional income disclosed voluntarily in return filed in response to Section 153A notice 

Mukesh D. Manglani Vs ACIT (ITAT Ahmedabad) - Assessee had disclosed additional income in return filed in response to notice issued under section 153A voluntarily, hence, there could not be any penalty under Expln. 5A to section 271(1)(c) as income disclosed by assessee in pursuance to search was not based on incriminating document....

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Assessment in the name of non-existing person or a dead person is null & void

DCIT Vs R.R. Gold Palace (ITAT Bangalore) - Search conducted on the basis of warrant of authorization issued in the name of non-existing entity and consequent assessment framed under section 243(3) read with section 153A were bad in law being nullity in the eyes of law....

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Absence of incriminating material during search- No Addition in Section 153A Assessment

DCIT Vs Shayona Land Corporation (ITAT Ahmedabad) - If in relation to any assessment year, no incriminating material is found, no addition or disallowance can be made in relation to that assessment year in exercise of power under section 153A....

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Six AYs Counted from Date of Handing over of Assets/Documents to AO for Section 153C Assessments

ACIT Vs Mapsa Tapes (P) Ltd. (ITAT Delhi) - whether Assessment year in respect of proceedings u/s 153C of the Act to be same 6 years in the case of other person, for which the proceedings u/s 153A is initiated in the case of connected searched person?...

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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...

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Recent Posts in "Section 153A"

No penalty for duly disclosed  transactions reflected in seized dairies in Returns pursuant to Section 153A notice

Jayant B Patel HUF Vs DCIT (ITAT Mumbai)

Jayant B Patel HUF Vs DCIT (ITAT Mumbai) (a) No penalty under Explanation-5 to Section 271(1)(c) of the Act could be levied in respect of undisclosed income found in the course of search but which were duly returned by the assessee in the return filed u/s.153A of the Act together with compliance of other conditions […]...

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No penalty on additional income disclosed voluntarily in return filed in response to Section 153A notice 

Mukesh D. Manglani Vs ACIT (ITAT Ahmedabad)

Assessee had disclosed additional income in return filed in response to notice issued under section 153A voluntarily, hence, there could not be any penalty under Expln. 5A to section 271(1)(c) as income disclosed by assessee in pursuance to search was not based on incriminating document....

Read More

Assessment in the name of non-existing person or a dead person is null & void

DCIT Vs R.R. Gold Palace (ITAT Bangalore)

Search conducted on the basis of warrant of authorization issued in the name of non-existing entity and consequent assessment framed under section 243(3) read with section 153A were bad in law being nullity in the eyes of law....

Read More

Absence of incriminating material during search- No Addition in Section 153A Assessment

DCIT Vs Shayona Land Corporation (ITAT Ahmedabad)

If in relation to any assessment year, no incriminating material is found, no addition or disallowance can be made in relation to that assessment year in exercise of power under section 153A....

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Six AYs Counted from Date of Handing over of Assets/Documents to AO for Section 153C Assessments

ACIT Vs Mapsa Tapes (P) Ltd. (ITAT Delhi)

whether Assessment year in respect of proceedings u/s 153C of the Act to be same 6 years in the case of other person, for which the proceedings u/s 153A is initiated in the case of connected searched person?...

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Section 153C Assessment order in the Name of Non Existing Entity is Invalid

DCIT Vs Mapsa Infra (P) Ltd. (ITAT Delhi)

The issue under consideration is whether Assessemnt order u/s 153C issued in the name of Amalgamated Company will be considered as valid?...

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Section 153A Assessment Invalid if no Incriminating Material Found during Search

Shri Amit Arora Vs ACIT (ITAT Delhi)

The issue under consideration is whether the assessment u/s 153A can be considered as valid even if no incriminating material found during the course of search?...

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Bank Account disclosed in ITR found in search cannot be treated as Incriminating Material

Sarva Priya Holdings Pvt. Ltd. Vs DCIT (ITAT Kolkata)

The issue under consideration is whether the addition made by AO u/s 68 by considering the share application money received by assessee as unexplained cash credit is justified in law?...

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Key Amendments & Highlights under New Faceless Assessment Scheme

This write-up is all about the key amendments introduced by the Hon’ble CBDT vide Notification No. 60 dated 13.08.2020 and Notification No. 61 dated 13.08.2020 modifying the earlier ‘E-assessment Scheme, 2019’ notified on 12.09.2019 and highlights of scheme....

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Posted Under: Income Tax |

Section 153C instead of section 153A is Void ab Initio

S.P.S. Ahluwalia Vs ACIT (ITAT Delhi)

The issue under consideration is whether the issue of notice u/s 153C instead of section 153A is considered as valid assessment or not?...

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