Home Highlights April 2016 Year 2016 This

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1. Reopening of assessment - Although the petitioner has resorted to window dressing of the statement of actual of statements filed along with the Statement of Profit and...

2. Addition u/s 69B - Amount of investments, etc., not fully disclosed in books of account. - the silence of the assessee on the statement recorded proves that he has...

3. The Appellate Tribunal examined the reopening of assessment after four years and the addition u/s 68 of the Income Tax Act. It held that the original assessment was...

4. Dishonour of cheque - no order for conversion into summons triable matter - application of Section 145(2) of Negotiable Instruments Act, 1881 - violation of natural...

5. Valuation - Reliance on the statement made before the customs officers - recording of statement u/s 108 - Certainly a statement recorded under duress or coercion cannot...

6. Validity of retraction of the statement made in survey proceedings u/s 133A - It is always open for the revenue authorities to examine the correction of the retraction...

7. Validity of statement - retraction of statement - the statement recorded u/s. 132(4) cannot be discarded merely because the retractment statements were filed. The...

8. Ease in claiming deduction on amortization of preliminary expenditure - certain preliminary expenses which are required to approved by the Board (CBDT) - In order to...

9. Validity of reopening of assessment u/s 147 - the Explanation to the sub-section has nothing to do with “inferences” and deals only with the question whether primary...

10. Violation of principles of natural justice - opportunity for cross-examination. Evidentiary value of statements recorded u/s 14 of the Central Excise Act, 1944 cannot be...

11. Search and seizure – In the Statement of income of assessee that the income received on were disclosed in the regular return, of income prior to the date of search - No...

12. Reopening of assessment u/s 147 was invalid as Assessing Officer (AO) failed to record that assessee did not disclose fully and truly all material facts necessary for...

13. Penalty u/sec. 271(1)(c) - income disclosed in search action - Ex-parte order - The Tribunal observed that the assessee admitted to suppressed receipts, which were...

14. Re-opening of the assessment / re-assessment u/s 147 - The borrowed opinion also being conspicuously absent in the instant case subsequent events also disclosing certain...

15. Addition on Statement recorded during the course of survey u/s 133A - assessee itself has accepted the stand disclosed during the course of survey - Profit embedded in...