Home Highlights February 2014 Year 2014 This

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1. 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...

2. Revision u/s 263 - AO allowed the deduction of interest and remuneration to partners while passing order u/s 144 ignoring the provisions of section 184(5) - once the...

3. Role of AO as adjudicator in making the computation - Assessment made u/s 147 r.w.s. 144 and 144B - It is clear that the Parliament intended the AO to be both...

4. 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....

5. Deduction of interest and salary paid to partners u/s 40b (IV) and 40 b(V) - order u/s 144 - The provisions of section 184(5) of the Act is very clear and according to...

6. Interest & salary to partners disallowed - A.O. has wrongly made assessment u/s 144 though in clause 5 of the assessment order he has taken the status as a “firm“ not as...

7. Disallowance of salary and interest paid to the partners - it is not a case where the assessment is made by the AO u/s.144 of the Act. It is a case where assessment...

8. 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...

9. Assessment made u/s 144 r.w.s. 142(1) OR 153C - The Tribunal held that the assessment made u/s 144 r.w.s. 142(1) for A.Y. 2012-13, based on the satisfaction recorded on...

10. 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...

11. 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 -...

12. Disallowance for payments in respect of remuneration and interest on capital paid to the partners - disallowance under section 184(5) comes into play not as a result of...

13. 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...

14. Valuation of imported goods - Cut Orchid Flowers (Dendrobium Hybrid) of various varieties and colour - undervaluation of goods - Section 17(5) of the Customs Act, 1962,...

15. Interest u/s 234 A, B & C - ‘Assessment’ as defined under Section 2(28) of the Act has a comprehensive meaning and includes all steps and proceedings taken for...