No surrender at the time of search but cash seized was included ...

Case Laws Income Tax

March 2, 2019

No surrender at the time of search but cash seized was included in the computation of income and offered for tax which was duly accepted by the AO without any further query - no penalty u/s 271AAA was leviable.

View Source

← Previous Next →

No surrender at the time of search but cash seized was included ...

Case Laws Income Tax

March 2, 2019

You may also like:

Search u/s 132 - Entitlement refund of the seized cash which is otherwise declared ‘unaccounted money’ and taxed in the hands of the searched person - This Court does...

Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

Interest liability u/s 234A, 234B, 234C - Cash seized during the search - To be treated as Advance Tax or not - In this case, as ROI was filed, though after the search....

Penalty u/s 271(1)(c) was levied on additional income voluntarily offered in the statement recorded u/s 132(4). However, no reference was made to corroborative...

Interest u/s 234 B - Advance tax - Adjustment / Credit for cash as seized - there is no prohibition to adjust the seized cash with self assessment tax. What is...

Applicability of special tax rate u/s 115BBE - income surrendered in search and seizure operation u/s 132 and offered in the return of income - Admittedly, assessee has...

Search warrant u/s 132 - Retention of cash seized in search - A return of income would be filed by the petitioner for the annual year 2019-20 only after 31st March, 2020....

Cash found in search action - retraction of disclosure of unaccounted cash seized - by surrendering the aforesaid amount and offering to pay tax, the assessee has...

Penalty u/s 271AAB for unexplained cash commission expenses u/s 69C cannot be imposed if the additional income disclosed by the assessee in the return of income is not...

Addition u/s 68 - large cash withdrawal by the assessee immediately before the search and seizure operation - during search and seizure operation, the cash amount was...

Income surrendered in survey action - undisclosed professional income - In fact, no such income has been found during the survey action. However, the assessee to keep...

During a search operation, the assessee surrendered a lump sum amount as alleged long-term capital gains from the sale of shares as additional income u/s 132(4). The...

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,...

Adjustment of cash seized during the search - AO to re-compute the tax liability - after adjusting the seized cash from the date of request made by the assessee - AT

Categorization of income - Undisclosed income surrendered during survey - Charging of tax rate u/s. 115BBE - CIT(A) granted relief to the assessee by charging income at...

Quick Updates: