Section 158BC

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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...

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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....

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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)....

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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 ...

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Proceedings u/s 158BD not tenable where satisfaction note is not on record

Haryana Paneer Bhandar Vs CIT (Delhi High Court) - Delhi High Court held In the case of Haryana Paneer Bhandar vs. CIT. that the Revenue has been unable to produce the satisfaction note of the AO of the searched person. Consequently, on this short ground of there being no satisfaction note, which is a mandatory requirement under Section 158BD....

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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"

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...

Read More

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....

Read More

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)....

Read More

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...

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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 ...

Read More

Proceedings u/s 158BD not tenable where satisfaction note is not on record

Haryana Paneer Bhandar Vs CIT (Delhi High Court)

Delhi High Court held In the case of Haryana Paneer Bhandar vs. CIT. that the Revenue has been unable to produce the satisfaction note of the AO of the searched person. Consequently, on this short ground of there being no satisfaction note, which is a mandatory requirement under Section 158BD....

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Proceedings u/s 158BD raised after gap of 3 years, even after completion of block assessment, not maintainable – ITAT

ACIT Vs Raj Kumar Jalan (ITAT Delhi)

ITAT held In the case of ACIT vs. Raj Kumar Jalan that in view of the proposition laid down by the Honble Delhi high Court in the case of CIT Vs. Bharat Bhusan Jain and others in ITA No.648/09 and 669/2009 etc order dated 08.01.2015...

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No interest u/s 234B during Block Assessment

ACIT Vs Akhil Jain (ITAT Delhi)

In the Case of ACIT v Akhil Jain, ITAT Delhi held that no interest will be levied u/s 234B during the Block Assessment by the virtue of Section 158BF....

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Delay in issuing notice u/s 158BD by 10 months cannot be considered contemporaneous

CIT Vs Bharat Bhushan Jain (Delhi High Court)

Revenue has to be vigilant in issuing notice to the third party under Section 158 BD, immediately after the completion of assessment of the searched person, this Court is of the opinion that a delay ranging between 10 months of 1 ½ years cannot be considered contemporaneous to assessment proceedings....

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Valid “Satisfaction Note” as required u/s 158BD requires proper recording of evidences for being satisfied

CIT Vs Manoj Bansal, CIT Vs Radhey Sham Bansal, CIT Vs Suresh Kumar Gupta (Delhi High Court)

The assessee contended that the note was antedated and is accordingly not valid. He tried to substantiate his argument by demonstrating the following: If the satisfaction note was recorded on 29th Aug., 2002 ...

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