Income Tax : A guide to India's block assessment tax provisions from the Finance Act 2024. Understand pending assessments, undisclosed income, ...
Income Tax : The tribunal reversed the CIT(A)’s decision for wrongly quashing assessment due to lack of notice under Section 143(2). It held ...
Income Tax : The Court held that recording satisfaction after a delay of nine months was not immediate as required by law. It upheld quashing o...
Income Tax : The ITAT held that absence of a valid notice under Section 143(2) is a jurisdictional defect. Since the notice was not properly is...
Income Tax : The Tribunal examined whether prior approval under Section 153D was granted after due application of mind. It held that mechanical...
Income Tax : The High Court held that jewellery seized during a search cannot be retained once tax liability is fully settled under the Vivad S...
Income Tax : CIRCULAR NO. 24/2015 Several High Courts have held that the provisions of section 153C of the Act are substantially similar/pari-m...
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.
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.
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 […]
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 […]
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
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.
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).
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 the searched person. This view has been accepted by CBDT.
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
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.
