Home Highlights May 2016 Year 2016 This

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1. Period of limitation u/s 153 - Assessment in search cases - To allow the AO to conduct proper scrutiny and consider or align all relevant information gathered in case of...

2. 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,...

3. Assessment u/s 153A - replacement of Chapter XIV-B provisions and introduced Sections 153A, 153B and 153C in the Act by Finance Act, 2003 - The new Section 153A provides...

4. Search operation under Section 37 of FEMA - The petitioner instead of furnishing documents and statements have chosen to file the present writ petition. The original...

5. Reopening of assessment v/s assessment u/s 153C - The High Court concludes that both Sections 153A and 153C have an overriding effect on regular provisions for...

6. Applicability of Section 153C and Section 148 of the Income Tax Act in cases involving seizure of incriminating material during search or requisition of documents...

7. Validity of Reopening of assessment u/s 147 - applicability of period of limitation of 10 years - Relevant date for conducting search or survey - The search is conducted...

8. Assessment u/s 153A - As per section 292C,, the loose sheets, books of accounts found during the course of search /survey are presumed to be belonging to the assessee,...

9. Assessment u/s 153C - Now supposing a search is conducted in one year and documents of other person are handed over to the Assessing Officer, of other person or to the...

10. Assessment u/s 153A - Addition of unapproved purchases based on peak calculation - the aforesaid addition is not based on any incriminating documents or material found...

11. Validity of search u/s 132 - place of search - the search conducted in the premises in which the assessee may not be carrying on the business would not nullify the...

12. Validity of search - it was necessary to conduct search under Section 17 of PMLA in the premises mentioned in the note; to identify and seize available incriminating...

13. Legality of search and seizure conducted at the residential premises of the petitioner - The High Court meticulously analyzed the legislative intent and statutory...

14. Assessment u/s 153A - In the case on hand, the search was conducted on 10.08.2017 and the relevant six assessment years immediately preceding the assessment year...

15. The Appellate Tribunal considered the validity of assessment u/s 153A regarding the inclusion of incriminating documents seized during a search. Referring to the Kabul...