Home Highlights May 2014 Year 2014 This

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1. The assessment u/s 153C mandates the recording of satisfaction by the Assessing Officer (AO) upon discovery of material likely to "have a bearing on the determination of...

2. Assessment u/s 153C - Unexplained investment being share capital and share premium - no incriminating material seized during search. CIT(A) held that three conditions...

3. Assessment u/s 153C versus 143 - Additions u/s 45 - Underreporting of sale consideration for immovable property while framing the Assessment Order u/s 143(3) - Whether...

4. Validity of Assessment u/s 153C - whether AO of the searched person has not recorded satisfaction note that the books of accounts/material belongs to the assessee ? - In...

5. Assessment u/s 153C - satisfaction on the basis of the borrowed information - It is true that the supreme Court has made the said observations while considering the...

6. Validity of assessment u/s 153C - There is no prohibition in the Act that a combined satisfaction-note should not be recorded. Moreover, the satisfaction- note, is...

7. Validity of assessment proceedings u/s. 153C - In this case the exercise of recording the satisfaction during the assessment proceedings of the person searched has not...

8. Assessment u/s 153C - inordinate delay in commencement of proceedings - The High court rejected the argument that the proceedings for AYs 2014-15 to 2016-17 were barred...

9. Assessment u/s 153A/153C - recording of satisfaction as the AO of the searched person is mandatory to initiate the proceedings even if AO for both the same and...

10. Correctness of assessment made u/s. 153A r.w.s. 153C - essential requirement of recording the satisfaction prior to initiate the proceedings u/s. 153C has not been...

11. Proceedings u/s. 153C r.w.s. 153A - Recording of satisfaction - CIT (Appeals) not given finding that what basis he came to such conclusion that there was a recording of...

12. 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...

13. The case involved the legality of assessment u/s 153A vs. 153C based on materials found during a search of a third party. It was held that assessment u/s 153A cannot be...

14. Penalty u/s 271(1)(c) - non recording of satisfaction - When satisfaction for initiation of penalty proceedings u/s 271(1)(c) of IT Act is recorded by the AO in...

15. 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....