Home Highlights August 2014 Year 2014 This

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1. 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...

2. 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 -...

3. Assessment u/s 153A - additions in unabated assessments - additions in unabated assessments without any incriminating material found during the course of search u/s 132...

4. Assessment u/s 153A - Addition u/s 68 - bogus LTCG - Except the statement of the assessee u/s. 132(4) agreeing for the addition there is no seized incriminating material...

5. Assessment u/s 153A - incriminating material found in search or not? - On the date of search, admittedly, the assessment with respect to the AY under consideration...

6. 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...

7. 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...

8. Assessment u/s 153A - Assessment for AY 2006-07 was already completed prior to the date of search and having not abated, the scope of proceedings u/s.153A of the Act had...

9. 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...

10. Validity of Assessment u/s 153A - The information obtained from outside agencies which was confronted with the assessee during the search cannot be considered as...

11. Assessment u/s 153A or u/s 147/148 - any incriminating information of any undisclosed income of the person not searched which was found during the course of a search...

12. Assessment u/s. 153A - income earned from undisclosed sources - unexplained investment u/s. 69 - AO has not referred to any incriminating material found during the...

13. 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...

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

15. Proceedings u/s 153A were initiated based on alleged incriminating material found during search, however, the material relied upon was a laptop recovered from Mumbai...