Addition on the basis of income disclosed u/s 245C(1) before ...

Case Laws Income Tax

August 23, 2019

Addition on the basis of income disclosed u/s 245C(1) before Settlement Commission - there was no occasion of conducting any proceedings or enquiry or recording any evidence as the application was rejected for want of any supporting material - in the absence of any material much less the incriminating material, no addition can be made on the basis of income offered in the application u/s 245C(1)

View Source

← Previous Next →

Addition on the basis of income disclosed u/s 245C(1) before ...

Case Laws Income Tax

August 23, 2019

You may also like:

Settlement application u/s 245C - Apportioning the undisclosed income in the hands of the petitioner and the Company - The High court examines the petitioner's...

The High Court held that the Settlement Commission cannot reopen its concluded proceedings by invoking Section 154 of the Income Tax Act. Section 154 allows...

Addition of commission income - estimation commission income of the assessee for 207 days - set off with the income already disclosed by the assessee - the only method...

Settlement Application u/s 245C(1) - assessee disclosed additional income during the course of settlement - fresh and substantial disclosure or not - it is far greater...

Validity of order of Settlement Commission - the additional amounts which the respondents have agreed to pay are meagre considering the overall amounts disclosed in the...

Validity of order of Settlement Commission - acceptance of additional income disclosed by the assessee - Petitioner/Income Tax authority could not make out any...

Settlement Commission lacks power to rectify order u/s 245F(1) by levying interest u/ss 234A, 234B, and 234C prior to 01.06.2011. Rectification order on 21.03.2003 was...

Rejection of Settlement application u/s 245C - allegation of Suppression of facts - Legislative intention is to ensure that the manner in which the income has been...

The assessing officer made protective additions u/ss 69, 69C, and 68 for amounts already considered by the firm where the assessee was a partner. However, the settlement...

Validity of order of Income Tax Settlement Commission [ITSC] - deemed dividend under Section 2(22)(e) - The Revenue need not have any apprehension over the income, which...

Income Tax Settlement Commission order - Waiver of interest - the Settlement Commission cannot re-open its concluded proceedings by invoking Section 154 of the Act so as...

Addition on protective addition - Application to Income tax Settlement Commission[ITSC] - the provisions of Section 245I does not give protection to the whole world with...

Penalty levied u/ss 271(1)(c) and 271AAA for unexplained investment and addition made by adopting net profit as per the books of accounts at 12.85% on the suppressed...

Order of settlement u/s 245D(1) - full and true disclosure in application filed u/s 245C(1) - once the assessee approached settlement Commission with a certain amount,...

The High Court held that the Income Tax Settlement Commission (ITSC) rightly restricted the applicability of interest u/s 234B on the total income disclosed in the...

Quick Updates: