Invocation of 153A & 153C - cash seized during assembly election ...

Case Laws Income Tax

November 6, 2023

Invocation of 153A & 153C - cash seized during assembly election - entitlement to exception u/rule 112F(ii) of the Income Tax Rules, 1962 - Unless, the cash that was seized was in connection with the assembly election, question of excluding the petitioners from the purview of proceeding under Section 147, 153A/153C of the Income Tax Act, 1961 cannot be countenanced. - HC

View Source

← Previous Next →

Invocation of 153A & 153C - cash seized during assembly election ...

Case Laws Income Tax

November 6, 2023

You may also like:

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...

Assumption of jurisdiction under 153C - assessment in search cases - Even as per the pre-amended provisions of Section 153C, AO has to record satisfaction to the effect...

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

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...

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...

Assessment u/s 153A - scope of assessments u/s 153C/ 153A - the additions made in the order passed u/s 143(3) r.w.s. 153C, for the captioned assessment years which are...

Assessment u/s 153C - undisclosed income of the present assessee - As per the provisions of section 153C of the Act, incriminating material which was seized had to...

Unexplained money u/s 69A r.w.s. 115BBE - Cash seized in search - The assessee provided a cash reconciliation statement, demonstrating that the cash balance remained...

This case pertains to the release of seized cash. The cash was found at the petitioner's office premises, and due to the lack of satisfactory evidence regarding its...

Seizure of Cash - Power of the GST authorities to seize the cash of a dealer - cash seized is not ‘stock in trade’ - The respondents are directed to release the cash...

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...

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...

Validity of proceedings u/s 153C - The Tribunal upheld the proceedings u/s 153C, agreeing with the CIT(A)'s decision that the material seized during the search had a...

Validity of assessment made u/s 147 instead of u/s. 153C - Addition as unexplained cash credit u/s. 68 - Upon examination, the ITAT Delhi found that the seized material,...

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

Quick Updates: