Section 153A

Section 153A only states that an assessment in terms thereof shall be completed in terms of the provisions of the Income Tax Act, 1961 as if such return were a return required to be furnished under Section 139. It would thus suffice that in framing an assessment under Section 153A, due regard must be given to the principles of natural jus...

In search assessment, any undisclosed income, which can ultimately be added, is only to the extent of any unrecorded assets/material found or any incriminating documents found as representing undisclosed income earned, since, AO had not made any specific reference to the incriminating material found during the search in respect of additio...

S. R. Trust Vs ACIT (Madras High Court) Conclusion: Search proceedings had been rightly initiated as assessee had nothing to fear, they could as well place all the materials before AO for consideration and more so, the jurisdictional facts exist for assumption of jurisdiction under Section 153A as well as Section 153C of the Act. [&hellip...

PCIT Vs Taneja Developers and Infrastructure Ltd. (Delhi High Court) Tribunal was required to consider, was: whether penalty could be imposed on the assessee only because it had made a new claim [in line with the change in its accounting policy] in its fresh return? Admittedly, [and there is no dispute about it] AS-7 permitted […]...

USG Buildwell Pvt. Ltd. Vs Additional CIT (ITAT Delhi) The Ld. DR submitted that the disallowance u/s 37 on account of additional payment for purchase of land was righty made as the assessee could not establish his case as the expenditure was incurred without any substantial evidence produced before the Assessing Officer to that effect [&...

M.L. Singhi & Associates (P) Ltd. Vs DCIT (ITAT Delhi) No addition could be made against the assessee if no incriminating material was found during the course of search It is not in dispute that whatever queries were raised by the A.O. time to time, have been replied by assessee along with documentary evidences. All […]...

Tanvir Collections Pvt. Ltd. Vs ACIT (ITAT Delhi) Absence of satisfaction of AO of searched person must for other person without which jurisdiction assumed under 153C is invalid It is palpable that the AO of Shri B.K. Dhingra, Smt. Poonam Dhingra and M/s Madhusudan Buildcon Pvt. Ltd., did not record any satisfaction that some money, [&hel...

R.N. Shetty Trust Vs ACIT (ITAT Bangalore) As per Section 153C of the Act, the Assessing Officer of searched person shall proceed against such other person on reaching satisfaction that any undisclosed income belonging to such other person over whom he has no jurisdiction then he has to transmit the seized material to the Assessing [&hell...

Regular Books Of Accounts Maintained By Assessee Can Not Be Termed As Incriminating Material To Frame Assessment Under Section 153A , All Addition On Basis Of Such Material Is Therefore Invalid...

Section 153A Invalid Where Statement Belonging And Pertaining To Person Other Than Searched Person Used To Assume Jurisdiction and Only Section 153C Can Be Invoked And Without Cross Examination Of Witness There Can Be No Valid Proceedings Under Law.   ...