Section 153C

Budget 2017: In case of Search Assessment notice can be issued for 10 Years

Income Tax - In order to protect the interest of the revenue in cases where tangible evidence(s) are found during a search or seizure operation (including 132A cases) and the same is represented in the form of undisclosed investment in any asset, it is proposed that section 153A relating to search assessments be amended to provide that notice under th...

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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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Scope of additions that can be made in a pending assessment and in a completed assessment pursuant to a search u/s 132

Income Tax - Completed assessments can be interfered with by the AO while making the assessment under Section 153 A only on the basis of some incriminating material unearthed during the course of search or requisition of documents or undisclosed income or property discovered in the course...

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Amendment proposed by union budget 2010 in Provisions dealing with Settlement Commission

Income Tax - Entire scheme of the eligibility, powers and procedure before the settlement commission was overhauled by Finance Act, 2007, w.e.f. 1.6.2007. In the overhauled scheme, search / requisition cases covered by the provisions of section 153A of the Act were not allowed to take benefit of the settlement commission. It also excluded the cases of...

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Section 153C Assessment is without Jurisdiction if documents seized not belongs to Assessee

A.C.I.T. Vs. Empire Casting Pvt. Ltd. (ITAT Delhi) - While dismissing the appeal filed by the revenue the Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that assessment under Section 153C of the Income Tax Act without jurisdiction when documents seized not belonged to the assessee is invalid. ...

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Assumption of jurisdiction U/s. 153C is invalid if seized documents makes no reference of assessee or any transaction by him

Dy. CIT v. National Standard India Ltd. (ITAT Mumbai) - Assumption of jurisdiction over assessee under section 153C on the basis of statement of searched person, however, seized documents making no reference of either the assessee or any transaction entered into by it, was highly misplaced and, therefore, set aside....

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No Penalty on Income disclosed during survey and also in return filed U/s. 153A

Alok Bhandari & Anr. Vs. ACIT (ITAT Delhi) - In the present case, the fact that the entire ‘undisclosed income’ was declared by the appellant in the statement recorded during search and the same was also disclosed in the return filed pursuant to notice issued under section 153A, clearly goes to show the bona fides of the appellant, not war...

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Assessment Order not becomes Invalid for mere wrong mention of section

Shri Cherian Abraham Vs. Dy. Commissioner of Income Tax (ITAT Bangalore) - There is no dispute that the search was conducted in the previous year relevant to the assessment year under consideration therefore the provisions of Section 153C are not applicable for the assessment year under consideration however, the mention of this Section in the order is only a mistake which...

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Recording of satisfaction U/s. 153C when AO of Appellant & Searched Person is common

Pr. CIT Vs. Instronics Ltd. (Delhi High Court) - Since satisfaction note was recorded by AO of searched person who also happened to be AO of assessee (other person) as well to effect that seized documents belonged to assessee, issuance of notice under section 153C on basis of such note was justified....

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Section 153C’s Popular Posts

Recent Posts in "Section 153C"

Section 153C Assessment is without Jurisdiction if documents seized not belongs to Assessee

A.C.I.T. Vs. Empire Casting Pvt. Ltd. (ITAT Delhi)

While dismissing the appeal filed by the revenue the Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that assessment under Section 153C of the Income Tax Act without jurisdiction when documents seized not belonged to the assessee is invalid. ...

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Assumption of jurisdiction U/s. 153C is invalid if seized documents makes no reference of assessee or any transaction by him

Dy. CIT v. National Standard India Ltd. (ITAT Mumbai)

Assumption of jurisdiction over assessee under section 153C on the basis of statement of searched person, however, seized documents making no reference of either the assessee or any transaction entered into by it, was highly misplaced and, therefore, set aside....

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No Penalty on Income disclosed during survey and also in return filed U/s. 153A

Alok Bhandari & Anr. Vs. ACIT (ITAT Delhi)

In the present case, the fact that the entire ‘undisclosed income’ was declared by the appellant in the statement recorded during search and the same was also disclosed in the return filed pursuant to notice issued under section 153A, clearly goes to show the bona fides of the appellant, not warranting imposition of penalty under sect...

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Assessment Order not becomes Invalid for mere wrong mention of section

Shri Cherian Abraham Vs. Dy. Commissioner of Income Tax (ITAT Bangalore)

There is no dispute that the search was conducted in the previous year relevant to the assessment year under consideration therefore the provisions of Section 153C are not applicable for the assessment year under consideration however, the mention of this Section in the order is only a mistake which is covered under the provisions of Sect...

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Recording of satisfaction U/s. 153C when AO of Appellant & Searched Person is common

Pr. CIT Vs. Instronics Ltd. (Delhi High Court)

Since satisfaction note was recorded by AO of searched person who also happened to be AO of assessee (other person) as well to effect that seized documents belonged to assessee, issuance of notice under section 153C on basis of such note was justified....

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Section 153C proceedings can be initiated against a person only if seized materials belong to him

CIT Vs Renu Constructions Pvt. Ltd (Delhi High Court)

The purpose of initiating proceedings under Section 153C of the Act, the seized documents had to be shown to belong to the other person and not merely pertaining to such other person. The change brought about in this regard in Section 153 C of the Act by way of amendment has been given prospective effect from 1st June 2015. ...

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Wrong Mention of Section would not make Re-Assessment Invalid

DCIT Vs Shri K.M. Nagaraj (ITAT Bangalore)

Under the provisions of section 292B, certain acts are not to be treated as invalid by reason of mistake or defect or omission either in the return of income, assessment, notice, summons or other proceedings. In other words, notice cannot be invalidated by reason of any mistake such as one occurred in the present case i.e. mentioning sect...

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No Penalty for mere Non enclosure of audit report to return of income

M/s. Sri Sai Prasanthi Realtors Vs Deputy Commissioner of Income Tax (ITAT Hyderabad)

In a recent ruling, the Hyderabad ITAT ruled that non- enclosure of audit report to the return of income would not attract penalty under section 271B of the Income Tax Act....

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Section 153C proceedings not valid if initiated on the basis of document not belonging to Assessee

Pr. Commissioner of Income Tax Vs Vinita Chaurasia (Delhi High Court)

There is, therefore, nothing to contradict the categorical finding of the ITAT that the document which formed the main basis for initiation of the proceedings under Section 153C of the Act does not belong to the Assessee. One of the principal conditions for attracting Section 153C of the Act is, therefore, not fulfilled in the present cas...

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Sec. 153C: Documents found during Search must belong to Assessee

CIT Vs M/s Arpit Land Pvt. Ltd. (Bombay High Court)

Requirement of Section 153C of the Act cannot be ignored at the alter of suspicion. The Revenue has to strictly comply with Section 153C of the Act. We are of the view that non satisfaction of the condition precedent viz. the seized document must belong to the respondent – assessee is a jurisdictional issue and non satisfaction thereof ...

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