Home Highlights May 2013 Year 2013 This

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1. Search and seizure - basis of additions – Even if an illegal search does not vitiate the discovery of incriminating document during search and the department may rely...

2. Exemption u/s 11 - registration u/s 12A Cancelled - evidences collected during search - second search is a different proceeding that materials cannot be imported for...

3. Unexplained investments - There is no positive and credible evidence brought on record by the revenue to establish the allegation of cash payment over and above the...

4. Validity of assessment u/s 153A regarding unexplained cash credits u/s 68, absence of incriminating material found during search proceedings, and lack of valid approval...

5. The case involves the validity of assessments u/s 153A and 132 of the Income Tax Act. In the absence of incriminating material seized during the search, assessments...

6. Additions u/s 153A solely based on a sketchy statement of an accountant u/s 132(4), which in turn is based on a confessional statement of a director in a previous...

7. The Rajasthan High Court examined the validity of reassessment proceedings u/s 147/148/148A OR u/s 153C/153A based on material/information collected during a search from...

8. Introduction of block assessment provisions in cases of search u/s 132 and requisition u/s 132A for early finalization of search assessments, coordinated investigation,...

9. Assessment u/s 153A - Addition u/s 69A by the Assessing Officer on account of difference in amount credited in bank and sale proceeds shown in the income tax return. It...

10. Authorization for Search – search after surrender of registration - search of another company without separate authorization held as not illegal - HC

11. Assessment u/s 153A - Obviously an assessment has to be made under this Section only on the basis of seized material. The question, however, is whether the seized...

12. The Appellate Tribunal considered the validity of assessment u/s 153A regarding the inclusion of incriminating documents seized during a search. Referring to the Kabul...

13. Clandestine manufacture - tobacco snuff - It is found that to manufacture snuff of huge quantity, other raw material/packing material also required but no such evidence...

14. Section 153C applies equally to all non-searched entities, without creating a separate regime where the AO of the searched and non-searched entity are the same. The...

15. Assessment u/s 153A - Addition u/s 68 - bogus LTCG - penny Stocks - whether documents found during the course of search were of incriminating nature? - The tribunal...