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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 4368 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 2808 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 15393 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 20856 Views 0 comment Print

Latest Judiciary

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 450 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 291 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 426 Views 0 comment Print

Assessment Based on Mere Unverified Third Party Statement Bad in Law: ITAT Mumbai

Income Tax : Analysis of Kundal Raghubir Bhandari Vs ITO (ITAT Mumbai) case reveals flaws in assessment based on unverified third-party stateme...

May 5, 2024 3435 Views 0 comment Print

Section 132(1) search authorization Warrant was qua ‘premises’ & not qua ‘assessee’

Income Tax : Search warrant is issued regarding premises and not necessarily regarding an assessee, and a common search warrant and panchnama i...

May 5, 2024 513 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 2049 Views 0 comment Print

No addition in Assessment U/s. 153A if No incriminating material found

September 24, 2018 3633 Views 0 comment Print

As assessment for impugned assessment year was not pending on the date of search, therefore, no addition could to be made in assessment framed under section 153A in the absence of any incriminating material found during search.

Wrong Name on Assessment Order of non existent Company can’t be cured by section 292B

September 7, 2018 1398 Views 0 comment Print

ACIT  Vs M/s. Mahagun Realtors (P) Ltd, (ITAT Delhi) AO has passed the assessment order u/s 153A of the Act in case of Mahagun Realtors Pvt. Ltd (represented by Mahagun India Pvt. Ltd after amalgamation) despite the fact that the above company has merged with Mahagun India Pvt. Ltd by the order of the Hon’ble […]

Assessment after search U/s. 153A is limited to incriminating evidence found during search

September 5, 2018 1920 Views 0 comment Print

CIT Vs M/s. SKS Ispat & Power Limited (Bombay High Court) On perusal of Section 153A of the Act, it is manifest that it does not make any distinction between assessment conducted under Section 143(1) and 143(3). This Court had occasion to consider the scope of Section 153A of the Act in case of The […]

No addition in Section 153A assessment for unexplained share capital In absence of incriminating material

July 13, 2018 2043 Views 0 comment Print

In respect of assessments completed prior to date of search that have not abated, the scope of proceedings under section 153A has to be confined only to material found during search. As no material, whatsoever, was found in the course of search, question of making addition on account of unexplained share capital could not have been the subject-matter of proceedings under section 153A.

Assessment U/s. 153A-No incriminating material- No Addition can be made

July 9, 2018 3627 Views 0 comment Print

Completed assessments can be interfered with by AO while making assessment under section 153A only on the basis of some incriminating material found during the course of search. Since no incriminating material was unearthed during the search, no additions could have been made to the income already assessed.

Return filed in response to notice U/s. 153A(1)(a) eligible for Section 139(3) benefits

June 25, 2018 11967 Views 0 comment Print

Where no return was filed by assessee within statutory mandated time and the obligation to file any return remains suspended till such time that a notice was issued for such purpose under section 153A(1)(a), such return would be deemed to have been filed within the time permitted under section 139(1) and benefit under section 139(3) could be availed of by assessee.

Addition on the basis of dumb/bald documents not sustainable

May 24, 2018 1554 Views 0 comment Print

This appeal filed by the assessee against the order of the Ld. CIT(A)-XXVI, New Delhi dated 21.8.2017 and pertains to assessment year 2009-10.

In absence of incriminating material Assessment U/s. 153A is without jurisdiction and additions are not sustainable

May 22, 2018 1356 Views 0 comment Print

We find that the additions made by the assessing officer are beyond the scope of section 153A of the Income Tax Act, 1961, because no incriminating material or evidence had been found during the course of search so as to doubt the transactions.

Addition made U/s. 153A merely on the basis of bank pass book are not sustainable

March 26, 2018 981 Views 0 comment Print

Because in any view, the addition made u/s 68 of Rs.10,00,000/- of amount of gifts received (Rs.5,00,000/-+ Rs.5,00,000/-) in the Assessment u/s 153A without having any adverse material, and by not appreciating the evidences on record, the addition confirmed by ld. CIT(A) is grossly unjust, arbitrary, and against the facts and law of the case.

No addition in case of unabated assessment which had attained finality on search date if no incriminating material found during search

March 11, 2018 1581 Views 0 comment Print

Understand the scope of Section 153A in the case of Anurag Dalmia Vs DCIT. Analysis of unabated assessments, incriminating material, and additions made post-search.

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