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 2015 Year 2015 This

Whether the income of the Assessee was liable to be excluded ...


Court Rules Section 10(22) Income Exclusion Not Applicable in Block Assessment Focused on 'Undisclosed Income' u/s 158BC.

October 10, 2015

Case Laws     Income Tax     HC

Whether the income of the Assessee was liable to be excluded from its total income by virtue of Section 10(22) of the Act was an issue which could not be made the subject matter of block assessment under Section 158BC, as the same is concerned only with the assessment of ‘undisclosed income’ - Held Yes - HC

View Source

 


 

You may also like:

  1. Introduction of block assessment provisions in cases of search u/s 132 and requisition u/s 132A for early finalization of search assessments, coordinated investigation,...

  2. The High Court dismissed the writ petition challenging the assessment order made u/s 143(3) read with Section 260 for the assessment year 2021-22. The petitioner argued...

  3. Rectification of error - Period of limitation - The High Court observed that, there is no limitation prescribed for passing order under Section 22(4) of the TNVAT Act,...

  4. The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

  5. Assessment u/s 153C/153A - Computation of the Relevant Assessment Years Block - Jurisdiction for Reopening Assessments - The Delhi High Court meticulously analyzed the...

  6. Undisclosed Capital gain - Scope of block assessment proceedings - AO is concerned only with undisclosed income and he has no power to consider material and evidence not...

  7. 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...

  8. Deemed divided u/s 2(22)(e) requires arriving at accumulated profits by deducting depreciation as per Income-tax Act rates. Bombay High Court in Navnit Lal C Javeri and...

  9. Rejection of petition challenging classification of "Autoclaved Aerated Concrete blocks" (AAC Blocks) under residuary Entry 69 of Part C instead of proposed Entry 15 of...

  10. The Appellate Tribunal considered the validity of assessment proceedings u/s 144C, focusing on the period of limitation. The assessee argued that u/s 153(4), an extended...

  11. Deemed dividend made u/s 2(22)(e) - The alleged transactions are purely entered between the two concerns in the ordinary course of business as advance or loan for which...

  12. ITAT determined that for proceedings under section 153C, the relevant assessment years should be AY 2017-18 to 2022-23, based on the satisfaction note recorded by AO on...

  13. The assessee was entitled to set off brought forward losses from assessment years 2021-22 and 2022-23 against income in assessment year 2023-24, even if the return for...

  14. This case involves a challenge to an order of re-assessment under the relevant tax laws. The key points are: The petitioner failed to submit monthly returns within the...

  15. Cancellation of registration granted u/s 12AB - Assessment of trust - The ITAT held that the PCIT's order to cancel the registration from the financial year 2020-21 and...

 

Quick Updates:Latest Updates