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Section 153A

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Section 153A & 153C of Income Tax Act: Analysis & Implications

Income Tax : Delve into the provisions of Income Tax Act Sections 153A & 153C, governing assessments after search or requisition. Learn from co...

February 8, 2024 4554 Views 0 comment Print

Uttarakhand HC Quashes FIR U/S 153A IPC: No Proof of Disharmony

Corporate Law : Explore recent Uttarakhand High Court judgment quashing an FIR under Section 153A IPC. Analysis reveals lack of evidence for disha...

December 30, 2023 336 Views 0 comment Print

Completed/Unabated Assessments – No Addition if no Incriminating Material Found During Search: SC

Income Tax : Core issue involved in the appeals is the scope of assessment u/s 153A. question posed for consideration is, as to whether in resp...

April 25, 2023 2826 Views 0 comment Print

Budget 2023 aligns timeline under section 153 of Income Tax Act

Income Tax : Budget 2023 aligns timeline under section 153 of Income Tax Act. Learn more about the 2016 Finance Acts reduced assessment order p...

February 5, 2023 15435 Views 0 comment Print

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 case...

March 4, 2022 20988 Views 0 comment Print

Latest Judiciary

No Additions Based on Email Without Corroborative Evidence: ITAT Delhi

Income Tax : Read the detailed analysis of Amit Katyal Vs DCIT (ITAT Delhi) where no corroborative evidence was found to prove a Rs. 5 crore pa...

May 22, 2024 48 Views 0 comment Print

Mere name in panchnama cannot be treated as authorisation to conduct search

Income Tax : Explore Section 153A of Income Tax Act, its implications, and judicial interpretations. Learn about search proceedings, panchnama,...

May 21, 2024 2565 Views 0 comment Print

Material gathered in search with no correlation to assessee cannot be said to pertain to assessee

Income Tax : Delhi High Court held that the documents which were seized during the course of search does was unsigned Agreement to sell (ATS) w...

May 14, 2024 501 Views 0 comment Print

ITAT Deletes Addition After Taxpayer Explains Capital Enhancement Source

Income Tax : ITAT Delhi deletes Rs. 89.7 Lakhs addition u/s 68 IT Act in ACIT vs. Daya Rani. Detailed analysis of taxpayer's explanation for ca...

May 12, 2024 312 Views 0 comment Print

ITAT confirms 12.5% gross profit margin on alleged bogus purchases

Income Tax : In DCIT Vs Nilesh Shantilal Tank case, Mumbai ITAT confirms 12.5% gross profit margin on alleged bogus purchases as sales remain u...

May 9, 2024 462 Views 0 comment Print

Latest Notifications

Selection of Case of Search Years in ITBA Assessment module

Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...

September 12, 2019 2052 Views 0 comment Print

No addition for undisclosed income if no incriminating material found during search

November 6, 2022 945 Views 0 comment Print

ITAT Chennai held that undisclosed income allegation unsustainable as during search no incriminating material was found in respect of on-money receipt and AO also failed to establish the receipt of the same.

Concluded assessments cannot be reopened u/s 153A in absence of incriminating material

October 19, 2022 1830 Views 0 comment Print

PCIT Vs Meeta Gutgutia Prop. M/s. Ferns ‘N’ Petals (Delhi High Court) There is no such statement in the present case which can be said to constitute an admission by the Assessee of a failure to record any transaction in the accounts of the Assessee for the AYs in question. On the contrary, the Assessee […]

ITAT restores appeal to CIT(A) & directed to consider incriminating material found during search

October 18, 2022 666 Views 0 comment Print

Dy.C.I.T Vs Ashok Developers & Builders Ltd (ITAT Hyderabad) It is an admitted fact that a search & seizure operation took place in the premises of the assessee on 18.02.2016 and certain incriminating documents were found and seized. We find the AO in the order passed u/s 143(3) r.w.s. 153A of the Act determined the […]

Section 153A: No Additions if no Incriminating Materials unearthed during search

October 18, 2022 1308 Views 0 comment Print

PCIT Vs Gautam Bhalla (Delhi High Court) Appellant states that the ITAT has erred in holding that the addition which was not based on incriminating material found during the search, could not be made the basis for an assessment order under section 153A of the Income Tax Act, 1961 without going into merits of the […]

Regular books of accounts maintained in tally not constitute incriminating material  

September 2, 2022 1140 Views 0 comment Print

Regular books of accounts maintained by assessee in tally software, now being referred by Revenue, to justify impugned addition did not constitute incriminating material unearthed during search.

No Section 153A/153C addition If no Incriminating Material found during Search

August 14, 2022 4617 Views 0 comment Print

If no incriminating material found during Income Tax search in respect of an issue, no addition for such issue can be made Sections 153A/153C

Section 153A Assessment can be carried out only on the basis of seized material

August 3, 2022 1224 Views 0 comment Print

AGM Properties P. Ltd Vs ACIT (ITAT Delhi) To recapitulate the facts, it is an admitted position that for AY 2013-14 the assessee had originally filed its return of income under section 139(1) of the Act on 15.11.2014 and assessment under section 143(1) of the Act was completed on 15.11.2013. The time limit for issuance […]

Assessment orders passed u/s 153A quashed in absence of individual approval u/s 153D

July 26, 2022 1452 Views 0 comment Print

Held that in the present case the approving authority has acted casually and granted the approval u/s. 153D in a mechanical manner without judicious exercise of power. According, approval granted u/s 153D was quashed and consequently the assessment order u/s 153A was also quashed.

Dispute on amount of interest Granted by HC – HC ask dept to submit application for review/modification

July 12, 2022 279 Views 0 comment Print

Sanjeevkumar S/o Biharilal Kabra Vs Union of India (Bombay High Court) 1. The matter is placed on board for speaking to minutes in respect of order dated 22.04.2022 passed by this Court. 2. The learned counsel for the petitioners seeks clarification of the order, more particularly in so far as directions issued in paragraph no.43 […]

Carry forward of capital loss, claimed via return filed u/s 153A, is unsustainable

June 28, 2022 567 Views 0 comment Print

Short term capital loss not claimed while filing return u/s 139(1). Loss was claimed for the first time via return u/s 153A. Claim denied according to provisions of section 80.

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