Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2014 Year 2014 This

The determination of income is on the basis of the impounded ...

Case Laws     Income Tax

October 28, 2014

The determination of income is on the basis of the impounded materials as a result of survey and not on the basis of any seized materials belonging to the assessee - the pre-conditions for assuming jurisdiction u/s 153C are not satisfied - AT

View Source

 


 

You may also like:

  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. Addition u/s 68 - disclosure made by the assessee on the basis of documents impounded during the course of survey proceedings - The Tribunal deleted the addition holding...

  3. Reopening of assessment u/s 147 was based on reasons to believe the difference between total cash sales and cash sales reflected in books. Held: Reopening was made only...

  4. Validity of proceedings u/s 153C - The Tribunal upheld the proceedings u/s 153C, agreeing with the CIT(A)'s decision that the material seized during the search had a...

  5. Addition being the income admitted during the search action - Information contained in the seized documents are just the information without any support and therefore no...

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

  7. Use of materials seized and the statement furnished by the third parties against the assessee - the opportunity for the rebuttal to the assessee for the seized documents...

  8. Assessment u/s 153A - Obviously an assessment has to be made under this Section only on the basis of seized material. The question, however, is whether the seized...

  9. Survey proceedings - documents impounded under Section 131(3) - there is no provision under the Act to retain the documents of title as security for any tax liability...

  10. Levy of penalty u/s 271(1)(c) - Even if some discrepancies were found during the survey resulting in surrender of income by the assessee, once the assessee has declared...

  11. Penalty u/s 271AAB for unexplained cash commission expenses u/s 69C cannot be imposed if the additional income disclosed by the assessee in the return of income is not...

  12. Block assessment - computation of undisclosed income of block period under Section 158BB - Reliance on material gathered in the course of survey - the Tribunal set aside...

  13. Addition on the bases of seized material procured from corporate office - Since the seized material is neither the regular books of account nor kept in the regular...

  14. 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...

  15. Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

 

Quick Updates:Latest Updates