Home Highlights November 2018 Year 2018 This

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1. Reopening of assessment u/s 147 v/s assessment u/s 153C - proceedings initiated u/s 132 - The correct course of reassessment is under section 153C not under section 147...

2. Assessment u/s 153C - in proceedings under Section 153C of the Act, in the absence of any incriminating documents or evidence discovered during the course of search...

3. Assessment u/s 153C versus 143 - Additions u/s 45 - Underreporting of sale consideration for immovable property while framing the Assessment Order u/s 143(3) - Whether...

4. Assessment u/s 153A - Addition u/s 69A by the Assessing Officer on account of difference in amount credited in bank and sale proceeds shown in the income tax return. It...

5. Penalty u/s 271AAA - Assessment u/s 153C - search and seizure proceedings u/s 132(1) not carried out against the assessee - the primary condition of section 271AAA...

6. 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...

7. Assessment u/s 153C - Profit estimation on money received for new construction and redevelopment projects - extrapolation of income for the search period. The assessee...

8. Assessment proceedings u/s 153C against assessee will survive if AO is capable of generating satisfaction for issuing notice u/s 153C even if authorization of search u/s...

9. The assessment u/s 153C mandates the recording of satisfaction by the Assessing Officer (AO) upon discovery of material likely to "have a bearing on the determination of...

10. 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,...

11. Validity of assessment u/s 153A regarding unexplained cash credits u/s 68, absence of incriminating material found during search proceedings, and lack of valid approval...

12. Assessment u/s 153A - additions in unabated assessments - additions in unabated assessments without any incriminating material found during the course of search u/s 132...

13. Assessment u/s 143(3) - search and seizure action U/s 132 was taken during pendency of assessment proceedings - proceedings initiated U/s 143(3) stood abated by virtue...

14. The assessment year in question falls beyond the stipulated six assessment years and four relevant assessment years, rendering the notice issued by the Assessing Officer...

15. Assessment u/s 153C - The High court found procedural lapses in invoking Section 153C against the petitioner without concrete evidence of undisclosed transactions for...