Section 158BC

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No addition on the basis of loose papers in absence of corroborative material

Narsinga RAO Vs ACIT (Telangana High Court) - Revenue had placed no material on record to show that the loose papers were in the hand-writing of assessee and there was no corroborative material on record to prove that the expenditure recorded in the said loose papers was incurred by assessee. Therefore, no addition could be made on account of u...

Interest on late filing of return u/s 158BC is mandatory leviable on persons other than searched persons

K.L. Swamy Vs Commissioner of Income Tax & Anr (Supreme Court of India) - Supreme Court held that persons other than searched persons shall be liable to pay the interest on late filing of the return under Section 158BC even in absence of a notice under Section 158BC of the Income Tax Act....

Section 158BC notice in absence of search warrant is bad in law

Mahendra Auto Services (AOP) Vs ACIT (ITAT Pune) - For issuing notice u/s 158BC, there has to be a search in the case of 'any person', then the Assessing officer shall serve a notice to 'such person'. It means notice u/s 158BC can be issued to only such person who has been searched u/s 132 of the Act....

Addition for Capitation Fee should be made against collages instead of Parents

Shri R. Bhoopathy Vs CIT (Madras High Court) - Shri R. Bhoopathy Vs CIT (Madras High Court) he scourge of Capitation Fee by Medical and Engineering Colleges is an infamous and thoroughly extortionist act that is going on in the education sector in our country and it is almost a known fact that these so called Educational Institutions act more li...

Assessment framed u/s 158BC was void ab initio if notice U/s. 143(2) was not issued

Shri Ashok Kumar Aggarwal Vs ACIT (ITAT Delhi) - Shri Ashok Kumar Aggarwal Vs ACIT (ITAT Delhi) AO repudiates the return filed u/s 1 58BC (a) of the Act and proceeds to make an enquiry, he has to necessarily follow the provisions of section 142, 143(2) and 143(3) of the Act. In the case before us, the Department has not been able to negate [&helli...

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Recording of satisfaction note U/s. 158BD/153C of the Act- reg.

Circular No. 24/2015 - Income Tax - (31/12/2015) - CIRCULAR NO. 24/2015 Several High Courts have held that the provisions of section 153C of the Act are substantially similar/pari-materia to the provisions of section 158BD of the Act and therefore, the above guidelines of the Hon'ble SC, apply to proceedings u/s 153C of the IT Act, for the purposes ...

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Recent Posts in "Section 158BC" | Total 16 Posts

No addition on the basis of loose papers in absence of corroborative material

Narsinga RAO Vs ACIT (Telangana High Court) -

Revenue had placed no material on record to show that the loose papers were in the hand-writing of assessee and there was no corroborative material on record to prove that the expenditure recorded in the said loose papers was incurred by assessee. Therefore, no addition could be made on account of undisclosed expenses....

Posted Under: Income Tax | Judiciary | All High Courts, Telangana High Court

Interest on late filing of return u/s 158BC is mandatory leviable on persons other than searched persons

K.L. Swamy Vs Commissioner of Income Tax & Anr (Supreme Court of India) -

Supreme Court held that persons other than searched persons shall be liable to pay the interest on late filing of the return under Section 158BC even in absence of a notice under Section 158BC of the Income Tax Act....

Posted Under: Income Tax | Judiciary | Supreme Court of India

Section 158BC notice in absence of search warrant is bad in law

Mahendra Auto Services (AOP) Vs ACIT (ITAT Pune) -

For issuing notice u/s 158BC, there has to be a search in the case of 'any person', then the Assessing officer shall serve a notice to 'such person'. It means notice u/s 158BC can be issued to only such person who has been searched u/s 132 of the Act....

Posted Under: Income Tax | Judiciary | All ITAT, ITAT Pune

Addition for Capitation Fee should be made against collages instead of Parents

Shri R. Bhoopathy Vs CIT (Madras High Court) -

Shri R. Bhoopathy Vs CIT (Madras High Court) he scourge of Capitation Fee by Medical and Engineering Colleges is an infamous and thoroughly extortionist act that is going on in the education sector in our country and it is almost a known fact that these so called Educational Institutions act more like Business Houses rather […]...

Posted Under: Income Tax | Judiciary | All High Courts, Madras High Court

Assessment framed u/s 158BC was void ab initio if notice U/s. 143(2) was not issued

Shri Ashok Kumar Aggarwal Vs ACIT (ITAT Delhi) -

Shri Ashok Kumar Aggarwal Vs ACIT (ITAT Delhi) AO repudiates the return filed u/s 1 58BC (a) of the Act and proceeds to make an enquiry, he has to necessarily follow the provisions of section 142, 143(2) and 143(3) of the Act. In the case before us, the Department has not been able to negate […]...

Posted Under: Income Tax | Judiciary | All ITAT, ITAT Delhi

Search do not become invalid merely because warrant was in the name of a dead person

Gunjan Girishbhai Mehta vs Director of Investigation & ORS (Supreme Court of India) -

Notice under Section 132 of the Income Tax Act, 1961 was issued in the name of a dead person. The said notice was duly received by the present petitioner as the legal heir of the dead person. Notice of assessment under Section 158BC of the Act was issued and in the assessment proceedings...

Posted Under: Income Tax | Judiciary | Supreme Court of India

Order u/s 153C passed without JCIT approval u/s 153D is void

HiKlass Moving Picture Pvt. Ltd Vs ACIT (ITAT Mumbai) -

These are the appeals filed by the assessee against the order of CIT(A), Mumbai, for the assessment years 2002-03 to 2007-08, in the matter of order passed u/s.143(3) r.w.s. 153C of I.T.Act....

Posted Under: Income Tax | Judiciary | All ITAT, ITAT Mumbai

Statement cannot be sole basis for addition in block assessment

CIT Vs Harjeev Aggarwal (Delhi High Court) -

Statements recorded would certainly constitute information and if such information is relatable to the evidence or material found during search, the same could certainly be used in evidence in any proceedings under the Act as expressly mandated by virtue of the explanation to Section 132(4)....

Posted Under: Income Tax | Judiciary | All High Courts, Delhi High Court

Recording of satisfaction note U/s. 158BD/153C of the Act- reg.

Circular No. 24/2015 - Income Tax - 31/12/2015

CIRCULAR NO. 24/2015 Several High Courts have held that the provisions of section 153C of the Act are substantially similar/pari-materia to the provisions of section 158BD of the Act and therefore, the above guidelines of the Hon'ble SC, apply to proceedings u/s 153C of the IT Act, for the purposes of assessment of income of other than th...

Posted Under: Income Tax | Circulars, Notifications/Circulars

Satisfaction is a prerequisite for initiating assessment proceedings against any other person u/s.158BD

The Asstt. CIT Vs M/s. Apoorva Caterers (ITAT Mumbai) -

A search and seizure action was carried out at the residence of Devdas A.Alva on 13.9. 2001.During the action,a loose paper file marked A-1was seized.Pages No 1-17 contained a copy of the catering contract entered into by Apporva caterers and Ooters Club and Page No. 26 to 28 were the bills ...

Posted Under: Income Tax | Judiciary | All ITAT, ITAT Mumbai