Home Highlights September 2013 Year 2013 This

You may also like:

1. 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...

2. 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...

3. ITAT confirmed the deletion of additions by the CIT(A) - Finding of the tribunal, directly and substantially interferes in the interest of revenue and the finding are...

4. Smuggling - burden to prove - invocation of Section 123 - the statement recorded under Section 108 of the Customs Act, 1962 made before the customs officers is not a...

5. Proof of pudding is in the eating. The travel of assessee from losses to profits pursuant to the collaboration with the Arkadin SA, France is evident. Its acquisition of...

6. Assessment u/s 153A - Validity examined. Assessments cannot be framed without incriminating material found during search u/s 132. Completed assessments u/s 143(3) cannot...

7. The assessment years beyond six years but not exceeding ten years can be reopened u/s 153A only if the Assessing Officer possesses evidence depicting escapement of...

8. Addition based on unsubstantiated documents like loose sheets, jottings, and Excel sheets - unaccounted cash receipts from students - cannot be sustained. Statements...

9. Understatement of sales - search and seizer operation were carried wherein the certain loose papers were found and seized - When all the explanation, documents were...

10. 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...

11. Reopening of assessment u/s 147 - As examined the belief of the Assessing Officer to a limited extent to look into whether there was sufficient or any tangible materials...

12. Admission of income pursuant to survey operation u/s 133A - If the assessee did not adhere to the surrender made during the survey, it was for the AO to bring on record...

13. Assessment u/s 153A - Not an iota of evidence of any excess raw material purchase, out of books expenses, labour and other manufacturing expenses or receipt of...

14. Reopening of assessment u/s 147 - Once the Assessing Officer records the reasons that he has reason to believe that income has escaped assessment, it confers...

15. Rectification of a mistake apparent from the record u/s 154 of the Income Tax Act. The assessee had provided specific details and facts regarding the nature of alleged...