Home Highlights July 2012 Year 2012 This

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1. Penalty u/s 271(1)(c) - Addition on account of non-genuine gifts - Penalty proceedings are separate and independent. It is an admitted fact that assessee offered the...

2. Addition u/s 68 - AIR information - AO before making such addition on the basis of ITS information from the office of Sub Registrar should have issued a notice u/s....

3. Bogus purchases - addition @ 12.5% of the bogus purchases - accommodation entries - no actual delivery of goods - notices issued u/s 133(6) were returned back unserved...

4. Addition u/s 68 - Loans unexplained - the tax authorities are not justified in placing reliance on the statement given by the director in a third party proceeding...

5. Addition u/s. 41 (1) or u/s 68 - no reply by sundry creditors u/s 133(6) - AO has accepted purchases as genuine and the amount outstanding in the name of sundry...

6. Additions u/s 41(1) - Authorities Below has presumed that the trading liability ceased to exist as the notice u/s 133(6) of the Act issued were not served - liability...

7. The High Court found procedural irregularities in a faceless assessment process. The Assessing Officer (AO) did not refer to summons u/s 133(6) in the show cause notice,...

8. Cessation of liability u/s 41(1) - Notice issued u/s 133(6) could not be served upon the creditors - while the assessee has continued to declare the trading liability in...

9. Assessment u/s 153A - Addition u/s 68 - Unsecured cash credits - documentary evidences on record have not been rebutted by the A.O. through any evidence or material on...

10. Addition u/s 68 - Notice u/s 133(6) is issued by the AO could not be served on the share applicants and Inspector’s report also shows that this companies do not exists...

11. Addition on account of non production of bills and non appearance of suppliers u/s 133(6) - un-served notice with the remarks “party left” means that earlier this party...

12. Validity of summons issued u/s 70 - Proper officer - The High court examined Section 6(2)(b) of the CGST Act and determined that its scope differed from that of Section...

13. The court held that the notices issued u/s 133(6) and the subsequent notice u/s 148 of the Income Tax Act were invalid. The petitioner had filed a reply to the notice...

14. Disallowance of Expenses - AO erred in appreciating that nonreply of Section 133(6) notices cannot necessarily lead to disallowance of petty expenses ranging from Rs....

15. Penalty u/s 272A(2)(c) - non compliance of notice u/s 133(6) - Since there is no reasonable cause furnished by the assessee as mentioned u/s 273B for non furnishing of...