Income from 'seconds' - block assessment in the light of the ...

Income from 'seconds' sale subject to block assessment u/s 158BA; dual accounting not allowed by law.

November 9, 2015

Case Laws Income Tax HC

Income from 'seconds' - block assessment in the light of the provisions of section 158BA - No law permits maintenance of two sets of accounts, i.e., one unaccounted and the other accounted - HC

View Source

← Previous Next →

Income from 'seconds' - block assessment in the light of the ...

Income from 'seconds' sale subject to block assessment u/s 158BA; dual accounting not allowed by law.

November 9, 2015

Case Laws Income Tax HC

You may also like:

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,...

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

Two key issues: 1) Assessment of rental income received by co-owners as income of an Association of Persons (AOP), and 2) Treatment of income from letting out a plinth...

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...

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...

Assessment u/s 153A r.w.s. 153C - Block period - Period of limitation - Where two assessments may result, in the case of a searched entity and the related person, both...

Block assessment - The notice u/s 158BC was issued by AO on 5th May, 2000, which was served on 08th May, 2000. The time limit for passing assessment for Block Period was...

Estimated income from sale of plots- In this case, except agreement to sale for one plot, the AO does not have any other credible evidence to support his estimation of...

Block assessment - Receipt of two gifts received by the assessee and the gift to the Assessee’s wife - Where an income and assets are disclosed in the books of account...

Income u/s 158BA - Block assessment - If the principal amount is not considered as undisclosed income, the interest accrued thereon cannot be construed as undisclosed...

Depreciation on glow sign boards and oxygen gas cylinders was rejected by the Assessing Officer, holding that the transaction on the last day of the accounting year...

Block assessment - Applicability of Chapter XIV B - addition to the peak of loans - The Assessing Officer cannot indulge in roving enquires regarding the issue that has...

Revision u/s 263 - Addition u/s 68 - second revisional jurisdiction of Pr. CIT - Whether the AO (called second AO) has not conducted enquiry while framing re-assessment...

Income-tax (Second Amendment) Rules, 2019 - Filing of Returns (ITR) for the Assessment Year 2019-2020

Addition on account of cash deposit to the bank account of the assessee - assessee is consistently submitting that the assessee has two bank accounts in her name and the...

Quick Updates: