Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2021 Year 2021 This

Validity of satisfaction and proceedings u/s.153C - ...


Section 153C: Documents Lacking Specific Year Details or Public Domain Records Not Incriminating for Assessment Validity.

August 25, 2021

Case Laws     Income Tax     AT

Validity of satisfaction and proceedings u/s.153C - incriminating material or not - Most of the documents did not pertain to impugned assessment years or does not specify any assessment year or have already recorded in the books of account or a part of assessment years. The documents at least indicate some prima facie that there is same escapement of income or there is an element of undisclosed income, it cannot be said to be incriminating. If the documents found are available in public domain or are statutory records, same cannot be held to be incriminating. - AT

View Source

 


 

You may also like:

  1. The Appellate Tribunal held that the assessment orders issued u/s 153C for the assessment years 2011-12 and 2012-13 were beyond the jurisdiction of the Assessing Officer...

  2. 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...

  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 153C - Unexplained investment being share capital and share premium - no incriminating material seized during search. CIT(A) held that three conditions...

  5. The ITAT held that the period of limitation for issuing a notice u/s 153C is six years from the end of the financial year preceding the date of recording satisfaction....

  6. The ITAT held that the assessment years 2009-10, 2010-11 and 2011-12 were beyond the 10-year limitation period u/s 153C read with Explanation-1 to section 153A. Hence,...

  7. Validity of Assessment u/s 153C - recording satisfaction note - In the present case there is neither the recording of satisfaction by the AO of the searched person that...

  8. Validity of assessment u/s 153C - There is no prohibition in the Act that a combined satisfaction-note should not be recorded. Moreover, the satisfaction- note, is...

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

  10. Section 153C provisions are inapplicable as notice was issued to 'other person' under this section. Computation of six-year block period preceding assessment year...

  11. Interplay between Sections 153C and 147 of the Income Tax Act, specifically whether recourse to Section 147 is available when the Assessing Officer (AO) is empowered to...

  12. 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...

  13. The Income Tax Appellate Tribunal examined the validity of assessments made u/s 153C, considering the gap between the satisfaction note recorded by the Assessing Officer...

  14. Initiation of proceedings as barred by limitation - proviso to section 153C - satisfaction to initiate proceedings u/s 153C was arrived on 15.09.2014 and the six...

  15. SEBI mandated merchant bankers to upload and maintain records/documents relied upon during due diligence for public issues on an online Document Repository platform set...

 

Quick Updates:Latest Updates