Home Highlights January 2011 Year 2011 This

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1. Assessment u/s 144A - Power of JCIT to issue directions in certain cases - Directions to be exercised by the Joint Commissioner under Section 144(A) is merely intended...

2. The High Court upheld the validity of the Assessing Officer's jurisdiction to frame the assessment order u/s 144. Even if the case was not liable for compulsory scrutiny...

3. Validity of Assessment u/s 144 r.w.s. 143(3) - additions based on seized material. - As on 19.11.2012 the assessment for assessment year 2010-11 was not pending. AO has...

4. Validity of order passed by National Faceless Assessment Centre (NFAC) u/s 143 (3) read with Section 144-B - Requirement of preparing a draft assessment order u/s 144-B...

5. Validity of Assessment order - void ab-initio or not - assessment u/s.144 - despite many opportunities, the assessee did not respond to the AO. That even before making...

6. Validity of assessment u/s 144 without issuing notice - best judgment assessment - the assessment was patently illegal - HC

7. Faceless assessment regime introduced new procedures codified u/s 144B for assessments u/ss 143(3), 144, and 147, while assessments u/s 144C (transfer pricing cases)...

8. Diallowance of expenses after estimation of profit u/s 144 - ITAT deleted the additions - It is not required for the AO to apply net profit at a particular rate while...

9. Section 144 empowers the Assessing Officer to proceed with best judgment assessment if the assessee fails to file return. Petitioner appeared through counsel but did not...

10. Best Judgement assessment u/s 144 - Estimation of income - The Assessing Officer issued notices under section 143(2) as well as various notices issued under sections...

11. TP Adjustment - 'arranged' pricing' - TNMM method or CUP method - the superiority of any particular method to arrive at the ALP is ruled out.The TNMM (Transactional Net...

12. Exemption u/s 11 - receipts from the business of developing, coordinating plants and implementing the rail infrastructure projects, etc. for Indian Railways, exceeded...

13. Validity of Assessment u/s 153C - The period of six years would have to be reckoned with respect to the date of recording of satisfaction note, not the date of search....

14. Validity of Best judgment assessment - Assessment u/s 153C - since petitioner has filed a return, no best judgment assessment u/s 144 of the Act could have been passed -...

15. Assessment u/s 153A/143 - Difference between assessments under section 143(3) and 144 - Mention of nature of the order as section 153A r.w.s. 143(3) was not a technical...