Income Tax : The Tribunal held that additions cannot stand without a clear link between seized material and the assessee. It ruled that third-p...
Income Tax : Judicial rulings clarify that satisfaction for initiating action against other persons in search cases must be recorded promptly. ...
Income Tax : CBDT issues new compounding guidelines simplifying process, eligibility, charges, and procedures under the Income-tax Act from Oct...
Income Tax : CBDT's new Compounding of Offence Guidelines (2024) simplify the process but maintain strict compliance rules. Learn about eligibi...
Income Tax : AY 2015-16 assessment under Section 153C held time-barred. Judicial rulings confirm six-year limit runs from handing over of seize...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : ITAT Ahmedabad held that reassessment based solely on search material seized from a third party must be initiated under Section 15...
Income Tax : Mumbai ITAT held that unsecured loans received through banking channels and fully recorded in books cannot be treated as unexplain...
Income Tax : Delhi ITAT held that additions under Section 68 cannot be sustained merely on Investigation Wing reports without independent enqui...
Income Tax : Delhi ITAT held that a single consolidated satisfaction note covering multiple assessment years without identifying year-wise incr...
Income Tax : The Tribunal ruled that the Assessing Officer wrongly invoked Section 143(3) despite the case being covered under the block assess...
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...
Document found during search was a third party document which was neither in the handwriting of the assessee nor bears her signature. Its inference has to be taken as stated by the person who possessed the document.
CIT Vs. Mechmen (Madhya Pradesh High Court) In this case court observed that satisfaction was not recorded by the AO before issuing notice u/s 153C which is a fact decided by ITAT. No paper or document was seized against the assessee in the search operation.
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 related persons whose documents were seized as provided for in Section 153C of the Act.
