Applicability of provisions of 10A(7) - without establishing ...

Assessing Officer Cannot Apply Section 10A(7) on Assumptions; Requires Concrete Evidence of Unusual Profit Structuring.

September 12, 2015

Case Laws Income Tax AT

Applicability of provisions of 10A(7) - without establishing through positive evidence that assessee and its related party have arranged their business transaction in a manner to produce more than ordinary profit to assessee, AO cannot invoke the provisions of section 10A(7) read with section 80IA(10) on mere presumptions and surmises. - AT

View Source

← Previous Next →

Applicability of provisions of 10A(7) - without establishing ...

Assessing Officer Cannot Apply Section 10A(7) on Assumptions; Requires Concrete Evidence of Unusual Profit Structuring.

September 12, 2015

Case Laws Income Tax AT

You may also like:

Reopening of assessment u/s 147 - non independent application of mind by AO - Scope of borrowed satisfaction - The Appellate Tribunal found that the reopening was solely...

The assessment years beyond six years but not exceeding ten years can be reopened u/s 153A only if the Assessing Officer possesses evidence depicting escapement of...

Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

Validity of Reopening of assessment u/s 147 - reason to believe - Reply of the assessee through reproduced but the contents thereof are not even referred or analyzed...

Assessment order u/s 143(3) quashed for non-issuance of show cause notice. Case transferred from faceless Assessing Officer to Jurisdictional Assessing Officer u/s...

The ITAT allowed the assessee's appeal for statistical purposes and remanded the matter to the Assessing Officer/Transfer Pricing Officer for fresh adjudication....

Penalty u/s 271(1)(c) - The Appellate Tribunal observed that the appellant, during reassessment proceedings, had filed their return of income but failed to provide...

Revision u/s 263 by CIT - Unexplained bank deposits - PCIT, without making further inquiry on his own account, has simply stated in the impugned order that the Assessing...

The ITAT Delhi held that the notice issued by a non-jurisdictional Assessing Officer u/s 148 was invalid. The jurisdiction over the assessee was with a different...

Proof of smuggling of goods - DW.1 (revenue officer) stated in evidence that it was suspected that articles were smuggled and that it was believed that the articles were...

Key legal principles and decisions related to various disallowances and additions made by the Assessing Officer (AO) under different sections of the Income Tax Act. The...

Revision u/s 263 - bogus purchase - proof of nexus between the purchases and sales - once submission/reply filed by the assessee, pursuant to enquiry by the Assessing...

Penalty levied u/s 271(1)(b) - assessee had failed to provide full submissions - penalty levied by the Assessing Officer u/s 271(1)(b) of the IT Act deserves to be...

The High Court quashed the reopening notice issued by the Assessing Officer u/s 148 for reassessment beyond the period of four years. The assessee had filed returns...

Addition u/s 69A - cash loans given by the assessee as unexplained - decoding of the entries in the seized materials - The tribunal found that the assessing officer's...

Quick Updates: