Section 153A

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 dealt comprehensively by Delhi HC

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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Budget 2014 – Assessment of income of a person other than the person who has been searched

Income Tax - Section 153C of the Act relates to assessment of income of any other person. The existing provisions contained in sub-section (1) of the said section 153C provide that notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that any mon...

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Assessment U/s. 153A- In absence of Incriminating material no addition can be made in respect of concluded assessments

Y.V. Anjaneyulu Vs. Dy. CIT (ITAT Visakhapatnam) - Books of account and financials being already part of regular return filed by assessee, same could not be considered as incriminating material found during search and, therefore, AO could not make addition on the basis thereof in respect of already concluded assessments....

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Concealment has to be checked with reference to return filed U/. 153A

ACIT Vs. Mehar Anand & Anr. (ITAT Delhi) - In the present case also the income returned by the assessee under section 153A of the Act has been accepted by the assessing officer and once the assessing officer accepts the revised return filed under section 153A of the Act, the original return under section 139 of the Act abates and becomes non...

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Onus of ensuring presence of deponent cannot be shifted to assessee

Principal Commissioner of Income Tax Vs Best Infrastructure (India) Pvt. Ltd. (Delhi High Court) - S. 68: Statements recorded u/s 132 (4) do not by themselves constitute incriminating material. A copy of the statement together with the opportunity to cross-examine the deponent has to provided to the assessee. If the statement is retracted and/or if cross-examination is not provided, the statement...

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Notice U/s. 153A issued without search is bad in law

ACIT Vs. K.G. Finvest Pvt. Ltd. (ITAT Delhi) - In the instant case, it is the assessment of person allegedly searched, which is disputed before us, unlike the notice issued for the assessment of `other person’ before the Hon’ble Supreme Court. Even otherwise, the issue of invalidity of the search warrant in that case was not raised at any po...

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Finding of incriminating material during search of third party is a pre-requisite for exercise of power U/s. 153C r.w. section 153A

CIT Vs Veerprabhu Marketing Ltd. (Calcutta High Court) - Materials such as books of account, documents or valuable assets found during a search should belong to a third party which would lead to an inference of undisclosed income of such third party. Such an inference should be recorded by the Assessing Officer having jurisdiction over the searched person...

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Recent Posts in "Section 153A"

Assessment U/s. 153A- In absence of Incriminating material no addition can be made in respect of concluded assessments

Y.V. Anjaneyulu Vs. Dy. CIT (ITAT Visakhapatnam)

Books of account and financials being already part of regular return filed by assessee, same could not be considered as incriminating material found during search and, therefore, AO could not make addition on the basis thereof in respect of already concluded assessments....

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Concealment has to be checked with reference to return filed U/. 153A

ACIT Vs. Mehar Anand & Anr. (ITAT Delhi)

In the present case also the income returned by the assessee under section 153A of the Act has been accepted by the assessing officer and once the assessing officer accepts the revised return filed under section 153A of the Act, the original return under section 139 of the Act abates and becomes non-est. Therefore, in […]...

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Onus of ensuring presence of deponent cannot be shifted to assessee

Principal Commissioner of Income Tax Vs Best Infrastructure (India) Pvt. Ltd. (Delhi High Court)

S. 68: Statements recorded u/s 132 (4) do not by themselves constitute incriminating material. A copy of the statement together with the opportunity to cross-examine the deponent has to provided to the assessee. If the statement is retracted and/or if cross-examination is not provided, the statement has to be discarded. The onus of ensuri...

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Notice U/s. 153A issued without search is bad in law

ACIT Vs. K.G. Finvest Pvt. Ltd. (ITAT Delhi)

In the instant case, it is the assessment of person allegedly searched, which is disputed before us, unlike the notice issued for the assessment of `other person’ before the Hon’ble Supreme Court. Even otherwise, the issue of invalidity of the search warrant in that case was not raised at any point of time prior to […]...

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Finding of incriminating material during search of third party is a pre-requisite for exercise of power U/s. 153C r.w. section 153A

CIT Vs Veerprabhu Marketing Ltd. (Calcutta High Court)

Materials such as books of account, documents or valuable assets found during a search should belong to a third party which would lead to an inference of undisclosed income of such third party. Such an inference should be recorded by the Assessing Officer having jurisdiction over the searched persons and communicated to the Assessing Offi...

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In absence of incriminating material found during search concluded assessments cannot be reopened U/s. 153A

Pr. Commissioner of Income Tax Vs. Meetu Gutgutia (Delhi High Court)

A perusal of the common order of the ITAT shows that it first dealt with one common ground raised by the Assessee in all its appeals which concerned the jurisdictional issue of the validity of the invocation of Section 153A of the Act by the Revenue. It was contended that for the AYs 2000- 01 […]...

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Assessment u/s 153A is Limited to search related income only

Principal Commissioner of Income Tax Vs Dipak J Panchal (Gujarat High Court at Ahmedabad)

It is held that the Assessing Officer while framing the assessment under Section 153A of the Act for the block period may make addition considering the incriminating material found for the year under consideration only which was collected during the search....

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Concluded assessments cannot be disturbed in absence of any incriminating material

Smt.Binnaifer Kohli Vs Asstt. Commissioner of Income Tax (ITAT Mumbai)

In terms of section 153A of the Act, the already finalised assessment can only be disturbed if the search team has found some incriminating documents or material and which was relied upon by the AO at the time of framing the assessment or the addition is made in the order passed under section 143(3) r.w.s.153A of the Act by referring to s...

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Addition in Section 153A Assessment cannot sustain if no ‘Incriminating Material’ found during Search

Sri Krishna Ghosh Vs Asst. Commissioner of Income Tax (ITAT Kolkata)

Assessment under section 153A can be made on the basis of incriminating material which in the context of relevant provisions means books of account and other documents found in the course of search but not produced in the course of original assessment and undisclosed income or property disclosed during the course of search. ...

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Order u/s 143(3) r.w.s.153A Void if AO erred in assuming jurisdiction u/s 153A

Shri Fazal Sarang Vs DCIT (ITAT Mumbai)

AO's assumption of jurisdiction under section 153A of Income Tax Act,1961 and consequent passing of order of assessment u/s. 143(3) r.w.s. 153A is void if Assessing Officer erred in assuming jurisdiction u/s 153A...

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