Home Highlights May 2016 Year 2016 This

You may also like:

1. 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...

2. Addition on undisclosed income cannot be made on the basis of the statement recorded during the survey under section 133A - AT

3. Difference in stock found during the course the survey - addition on the basis of statements recorded during the survey u/s.133A does not empower any IT authority to...

4. Undisclosed income - admission of declaration of income during survey u/s 133A - without physical verification of stock and examining books of accounts, additions on the...

5. Evidentiary value of a statement made on oath by the assessee for making additions - The assessee can explain or withdraw the admission, if any, made by him in such...

6. Assessment of trust - Unaccounted fee receipts - reliance on statement recorded u/s 133A of Accountant of the Society - It is a settled law that statement recorded...

7. Additions on the basis of statement made u/s 133A - A statement made voluntary under Section 133A of the Act cannot be retracted unless the assessee files evidence to...

8. Addition to assessee's income by enhancing closing stock value made by Assessing Officer (AO) u/s 143(3) was based solely on statement recorded during survey without any...

9. Addition of loss claimed in Future & Options (‘F&O’) - Reliance on statement of third party (Broker) recorded during survey u/s. 133A - it is trite that the statement...

10. Disallowance of education cess on income tax and dividend distribution tax u/s 40(a)(ii) - Assessee has fairly conceded that as per amendment vide Finance Act, 2022...

11. Additions on the basis of Admission / statement made during survey - facts create doubt regarding the genuineness of the survey. Thus addition has been made without any...

12. The addition cannot be sustained only on the basis of admission during the course of survey. - sec.133A does not empower IT authority to examine any person on oath,...

13. Addition based on voluntary disclosure made by the key person of the assesse group during the course of search which has subsequently been retracted - The statement...

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. Unexplained investment u/s 69 - The materials found in the course of survey could not be the basis for making any addition in the assessment. The word “may” used in...