Income Tax : This document provides a complete reference on compounding of offences, including application procedures, offence-wise charges, re...
Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : The FAQs explain the prosecution provisions under the Income-tax Act, covering offences such as tax evasion, non-payment of TDS/TC...
Income Tax : Judicial rulings clarify that satisfaction for initiating action against other persons in search cases must be recorded promptly. ...
Income Tax : Courts are divided on whether the DRP-specific deadline under Section 144C(13) overrides the general assessment time bar in Sectio...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : ITAT Delhi quashed a Section 153C assessment, holding that a consolidated and defective satisfaction note invalidated jurisdiction...
Income Tax : ITAT held that a registered sale deed without corroborative evidence is not incriminating material and cannot support additions in...
Income Tax : ITAT held reassessment under Sections 147/148 invalid because it was based on a pre-1 April 2021 third-party search, requiring pro...
Income Tax : ITAT Mumbai quashed a Section 148 notice issued after the limitation under the first proviso to Section 149, holding the reassessm...
Income Tax : ITAT held that penalty under Section 271D cannot survive where the Assessing Officer failed to record satisfaction in the assessme...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
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 […]
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.
ACIT Vs Rameshbhai Jivrajbhai Desai (ITAT Ahmedabad) During the course of assessment proceedings, the Assessing Officer initiated penalty proceedings under Section 271(1)(c) of the Act. The Ld. AR submitted that the assessment order passed under Section 153A of the Act was held to be void ab initio and thus there is no addition in the […]
Vivimed Labs Limited Vs ACIT (ITAT Hyderabad) hon’ble apex court’s landmark decision in CIT Vs. Sinhaghad Technical Educational Society (2017) 84 com 290 (SC) that no such proceedings initiated u/s 153A of the Act sustainable in law for want of incriminating material found or seized during the course of search. We make it clear that […]
DCIT Vs Apple Metal Industries Pvt Ltd (ITAT Delhi) Assessment for Assessment Year 2011-12 was completed after making addition on account of unverified share application money amounting to Rs. 8,70,71,936/- and in Assessment Year 2014-15, addition on account of unverified share capital amounting to Rs. 30,00,600/- was made. The impugned assessment order clearly shows that […]
Section 278 (e) of the Income Tax Act, 1961, empowers the Court to presume culpable mental state of the accused, unless, the accused shows that he had no such mental state with respect to the act charged as an offence in the prosecution.
PCIT Vs LKG Builders P. Ltd. (Delhi High Court) Court is of the opinion that the questions of law raised in present appeals have been settled by earlier Division Bench in CIT Vs. Kabul Chawla (supra) and assessment of the respondents had attained finality prior to the date of search and no incriminating documents or […]
Since no incriminating material was found during the course of search, as regards the additions made u/s.68 of the Income Tax Act, therefore, no additions could be made.
ACIT Vs Dr. P. S. Prasad (ITAT Hyderabad) Learned CIT-DR vehemently reiterated the Revenue’s foregoing pleadings that the issuance of Section 143(2) notice is nowhere mandatory in Section 153A proceedings initiated in furtherance to a search in light of the various case law cited therein. We find no merit in the Revenue’s instant grievance since […]
DCIT Vs Rashmi Float Glass Ltd. (ITAT Kolkata) We find that the only addition made is of share application received u/s 68 of the Act and addition of commission paid allegedly for the share application money and finally a disallowance u/s 14A of the Act. No incriminating material has been found during the course of […]
