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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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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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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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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Section 153A’s Popular Posts

Recent Posts in "Section 153A"

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?...

Read More

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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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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Section 153C Order invalid if AO failed to Record Satisfaction Note

Shri Jagjit Singh Vs ACIT (ITAT Delhi)

The issue under consideration is whether the assessment order passed by the assessing officer under section 153C is bad in law and void ab-initio?...

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Section 132(4) statement & notings found during search sufficient to invoke section 153A jurisdiction

Lalji Khimjibhai Patel Vs ACIT (ITAT Rajkot)

The issue under consideration is whether the assessee is correct in stating that cognizance taken under section 153A of the Act is illegal at the end of the A.O.?...

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Section 271(1)(c) Penalty notice without any Specific allegation is unjustified

Dr. Subash Chandra Jena Vs ACIT (ITAT Cuttack)

Both assessment and the penalty order do not specify as to on which limb the AO intends to impose penalty u/s.271(1)(c) of the Act either for concealment of particulars of income or for furnishing of inaccurate particulars of such income....

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Jewellery not found during Search cannot be Treated as Sold to levy Capital Gain

Bina Aggarwal Vs ACIT (ITAT Delhi)

The issue under consideration is whether short of the jewellery found during search be treated as sold and capital gain attracted?...

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