Assessment u/s 153C - Now supposing a search is conducted in one ...

Clarification on Assessment Period for Transferred Documents Under Income Tax Rules Section 153C: Six-Year Period Defined.

April 23, 2021

Case Laws Income Tax AT

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 Assessing Officer with whom jurisdiction is centralized, after two years from the date of search, then for which six years the other person would show his accounts, whether for the years which are applicable for search person or for those years which are governed by the proviso. Thus, for those years which are governed by the proviso because the Income Tax Rules say so. - AT

View Source

← Previous Next →

Assessment u/s 153C - Now supposing a search is conducted in one ...

Clarification on Assessment Period for Transferred Documents Under Income Tax Rules Section 153C: Six-Year Period Defined.

April 23, 2021

Case Laws Income Tax AT

You may also like:

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,...

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...

HC quashed best judgment assessments made by Income Tax Officer, Baddi without complying with Section 127 transfer of jurisdiction requirements of giving reasonable...

The HC upheld the transfer order under s.127 of the Income Tax Act, finding no grounds to interfere with the transfer of assessment from Income Tax Officer, Theni to...

Prior period expenditure - when prior period income is taxed prior period expenditure cannot be disallowed - AT

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

Assessment u/s 153A - unabated assessments - the assessments of the assessment years falling within the period of above said six years which are not pending, i.e., which...

Validity of reopening of assessment u/s 147 - CIRP proceedings - The proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be pressed into service to...

The clarification addresses a crucial issue concerning the interpretation and application of section 44AE of the Income Tax Act. By providing clarity on the calculation...

The case pertains to the transfer of assessment proceedings u/s 127 from Coimbatore to the Central Circle in Kolkata. The respondents seized incriminating materials...

The High Court held that the limitation period prescribed in Section 153(3) of the Income Tax Act for issuing a fresh assessment order pursuant to an order u/s 254 (by...

The assessment years beyond six years but not exceeding ten years can be reopened u/s 153A only if the Assessing Officer possesses evidence depicting escapement of...

Jurisdiction of income tax authorities - Transfer of case u/s 127 - No document has been produced on the file by the Department to show that the case was transferred by...

The assessee company is eligible to claim Foreign Tax Credit (FTC) against its Minimum Alternate Tax (MAT) liability u/s 115JB of the Income Tax Act for taxes paid in...

Assessment proceedings u/s 153C - The period of limitation and deemed date for possession of seized documents were discussed. It was held that the date of recording...

Quick Updates: