Home Highlights February 2014 Year 2014 This

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1. Assessment u/s 153A - addition made in respect of completed assessment in absence of any incriminating material - The tribunal found that the additions made to the...

2. 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...

3. Assessment u/s 153A - Addition based on the valuation report - completed assessment - nature of material found in the course of search which led to impugned additions -...

4. Assessment u/s 153C - Profit estimation on money received for new construction and redevelopment projects - extrapolation of income for the search period. The assessee...

5. 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...

6. Assessment u/s 153A - Addition of unapproved purchases based on peak calculation - the aforesaid addition is not based on any incriminating documents or material found...

7. 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...

8. Assessment u/s 153A - completed assessments to be interfered with by the A.O. while making the assessment u/s 153A - The Tribunal upheld the decision of the Ld. CIT(A)...

9. Assessment u/s 153C/153A - Addition u/s 68 - Seized incriminating material has to pertain to the assessment year in question and have co-relation, document-wise, with...

10. The ITAT Delhi addressed the validity of additions in an assessment u/s 153A without incriminating material post a search u/s 132. Citing Abhisar Buildwell (P) Ltd., the...

11. Assessment u/s 153A - the scope and ambit of section 153A of the Act is to restrict to only incriminating material in case of unabated years. Since the assessment for...

12. Assessment u/s 153A - addition u/s 68 - in search assessments, the addition cannot be made without the incriminating material in completed assessments. - AT

13. Assessment u/s 153A - addition u/s 68 - The assessee contended that the additions were not based on any incriminating material found during the search. The Tribunal held...

14. 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...

15. Validity of the assessment u/s 153A - addition on the basis of post search inquiry - No addition based on any incriminating material found during the course of search -...