Income Tax : Delhi HC rules in PCIT Vs Pavitra Realcon Pvt. Ltd., ITA 579/2018, emphasizing the need for corroborative evidence in tax assessme...
Income Tax : Explore the intricacies of invoking Section 153C of the Income Tax Act, as clarified by the Delhi High Court, regarding the posses...
Income Tax : Delve into the provisions of Income Tax Act Sections 153A & 153C, governing assessments after search or requisition. Learn from co...
Income Tax : Learn about Section 147 to 153 Income Escaping Assessment and Reopening of Cases Under Income Tax Act, 1961. Get guidance on the p...
CA, CS, CMA : Discover the major changes in ITR forms for FY 2023-24 (AY 2024-2025). Highlights include new sections for retirement benefit acco...
Income Tax : Gujarat High Court dismisses Revenue’s appeal as unsigned excel sheet lacks corroboration in S. 153C Income Tax Act proceedings....
Income Tax : Read the Kerala High Court judgment on income tax assessments involving Sunny Jacob Jewellers. Analysis includes AO's authority un...
Income Tax : The ITAT Bangalore ruled that income tax additions can't be based solely on unsubstantiated loose slips, emphasizing the need for ...
Income Tax : Delhi High Court rules that reassessment actions post-2021 searches must meet the First Proviso to Section 149(1) of the Income Ta...
Income Tax : Delhi High Court rules Section 153C assessments beyond the 10-year limit unsustainable, quashing notices for AY 2013-14. Key judgm...
Income Tax : Central Government has decided to extend the time limits to 30th June, 2021 in the following cases where the time limit was earlie...
Income Tax : Availability of Miscellaneous Functionalities related to ‘Selection of Case of Search Year’ and ‘Relevant Search...
The issue under consideration is whether the assessee is correct in stating that cognizance taken under section 153A of the Act is illegal at the end of the A.O.?
Hon’ble Supreme Court examined the omission on the part of the AO not providing opportunity to assessee to cross examine of two witnesses and held that it was a serious flaw and since the statements of those witnesses were made the basis of the impugned order this omission on the part of AO makes the order nullity inasmuch as it amounted to violation of Principles of natural justice.
Mahalaxmi Buildwell India Pvt. Ltd. Vs DCIT (ITAT Delhi) We find, the AO, in the instant case, has made addition of Rs.17,15,113/- for assessment year 2009-10 and Rs.30 lacs for assessment year 2010-11 in the orders passed u/s 153A r.w. section 143(3). A perusal of the assessment order shows that the addition of Rs.16,77,983/- out […]
Sree Lakshmi Vs DCIT (ITAT Bangalore) We have already examined the legal position with regard to validity of initiation of proceedings u/s. 153C of the Act de hors incriminating material found in the course of search which belong or relate to the assessee. Admittedly, no such incriminating material was found in respect of any of […]
whether Assessment year in respect of proceedings u/s 153C of the Act to be same 6 years in the case of other person, for which the proceedings u/s 153A is initiated in the case of connected searched person?
The issue under consideration is whether Assessemnt order u/s 153C issued in the name of Amalgamated Company will be considered as valid?
The issue under consideration is whether the assessment u/s 153A can be considered as valid even if no incriminating material found during the course of search?
Akarsh Residence Pvt. Ltd. Vs DCIT (ITAT Bangalore) As per the facts noted by learned CIT(A) in the relevant paras of his order as reproduced above, it comes out that search was carried out in the case of M/s. Adarsh Developers and incriminating documents were found and seized in the course of search and those […]
DCIT Vs Venus Overseas Pvt. Ltd. (ITAT Delhi) The common grievance in all these appeals relates to the deletion of the addition made u/s 68 of the Act on account of unexplained share capital and premium though quantum may defer in each year. Vide application dated 30.01.2020, the assessee has invoked Rule 27 of the […]
The issue under consideration is whether the issue of notice u/s 153C instead of section 153A is considered as valid assessment or not?
