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Section 153A, 153C, 132(4). If no incriminating material is found during search, no addition could be made in respect of the assessments that had become final. Statements recorded under Section 132(4) of the Act do not by themselves constitute incriminating material. PCIT Vs. ANAND KUMAR JAIN (HUF) & ORS. HIGH COURT OF DELHI on Feb 12, 2021. If any statement was to be construed as an incriminating material belonging to or pertaining to a person other than person searched (as referred to in Section 153A), then the only legal recourse available to the department was to proceed in terms of Section 153C of the Act by handing over the same to the AO who has jurisdiction over such person.
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Consequences of absence of the notice u/s. 143(2) of the Act before framing the assessment order? Answer order liable to to be quashed. RAM NIWAS JAIN vs.ITO. ITAT DELHI on 07-Jan-2021. Section 148: Consequences of granting approval by CIT in a mechanical manner by putting only “Yes”. Answer order liable to to be quashed. RAM NIWAS JAIN vs.ITO. ITAT DELHI on 07-Jan-2021.
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अगर SVA की वैल्यूएशन DVO के वैल्यूएशन से ज्यादा आती है तो कर अधिकारी धारा 50C के प्रावधान के अनुसार कौन सी वैल्यू लेगा?ITAT Mumbai ने 18.11.2016 को Sangeeta Vijay Kumar, Mumbai vs Acit 25(2) को इसका ऑर्डर पास किया है।
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क्या होगा जब कोई चैरिटेबल ऑर्गनाइजेशन को 148 का नोटिस इस आधार पर मिलता है कि करदाता धारा 11 और 12 की छूट का अधिकारी 12AA मिलने के पहले के एसेसमेंट ईयर के लिए नहीं है? Nov 26, 2020 को ITAT BANGALORE ने second proviso to sec.12A(2) का हवाला देकर ऑर्डर पास किया है KARNATAKA STATE STUDENTS WELFARE FUND vs ITO.
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Section 148, 147:Client Code Modification is reason to suspect and not reason to believe that income chargeable to tax has escaped assessment. Re-assessment is quashed. STRATAGEM PORTFOLIO (P.) LTD. vs. DCIT. ITAT DELHI BENCH AY 2010-11. In favour of Assessee.
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Section 43(1), 143(3), 263 ITAT KOLKATA on May 29, 2020 hold that the industrial promotion assistance it received was on capital account.
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Rule 46A. The assessee submitted that additional evidence before the CIT(A), but the CIT(A) has not admitted the same. The CIT(A) should have looked into the additional evidences while arriving at the proper conclusion which the CIT(A) failed to do so. In the present case, the assessment order was passed under Section 144 of the Act which shows that the Assessing Officer has not seen any evidences while making additions. Thus, we are admitting the additional evidence filed before the CIT(A). ITAT DELHI on May 15, 2020 AY 2010-11. Rakesh Aggarwal vs. ITO
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ITAT DELHI on Mar 19, 2020 cancelled the penalty levied as the notice issued by the AO was held as bad in law as it did not specify which limb of Section 271(1)(c) the penalty proceedings had been initiated under i.e. whether for concealment of particulars of income or for furnishing of inaccurate particulars of income. ADMAN ADVERTISING vs ACIT
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What are the consequences when the notice u/s 143(2) served without examining the return filed in compliance of notice.? The answer is given by ITAT DELHI on 20 February, 2020 in the case of Ananya Portfolio (P) Ltd. v. ITO- IT-CASES-203-2020. Assessment quashed.
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ITAT Mumbai on 16th March 2020 held that In case of bogus bill found where actual purchases were made by cash, method of peak credit as adopted by AO would not be a suitable method rather an adhoc estimated addition would meet cause of justice