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show cause notice u/s 274 of the Act does not strike out the inappropriate words then that imposition of penalty cannot be sustained. Ratan Kumar Paul Vs DCIT
Friends, if a show cause notice issued u/s 274 of the Act does not specify the charge against the assessee as to whether it is for concealing particulars of income or furnishing inaccurate particulars of income and the show cause…
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Since no incriminating material was unearthed by AO during the course of search operation under section 132, therefore no addition could be made during the relevant assessment year under section 153A. Mona Agarwal & Anr. v. ACIT
Income Tax Act, 1961, Section 153A Search and seizure– Assessment under section 153A– Since no incriminating material was unearthed by AO during the course of search operation under section 132, therefore no addition could be made during the relevant…
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New Rules regarding Issue of securities including shares Preference Shares, Debentures NCDs and CCDs etc. by any public companies which is not listed
New Rules regarding Issue of securities including shares Preference Shares, Debentures NCDs and CCDs etc. by any public companies which is not listed Now Every unlisted public company shall facilitate dematerialisation of all its existing securities by making necessary application…
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Moreover, addition was made only on statement of Sh. VK without providing copy of same and without providing any opportunity to assessee to cross examine same, which was in violation of principle of natural justice and against law laid down by Supreme Court of India in case of Andaman Timber vs. CIT—Therefore, in present case, addition made by AO on basis of statement of Sh. VK was deleted
ANUBHAV JAIN vs. INCOME TAX OFFICER DELHI TRIBUNAL H. S. SIDHU, JM. ITA No. 4565/DEL/2018, 4566/DEL/2018 Nov 26, 2018 (2018) 54 CCH 0273 DelTrib Legislation Referred to Section 142(1), 143(2) Case pertains to Asst. Year 2014-15 Decision in favour of:…
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Unless corroborative evidence is found during course of survey, search & seizure, addition cannot be made merely on statement recorded.
CONCEPT COMMUNICATION LTD. vs. DEPUTY COMMISSIONER OF INCOME TAX BOMBAY TRIBUNAL R. C. SHARMA, AM & SANDEEP GOSAIN, JM. ITA No. 2800/Mum/2016, 2801/Mum/2016, 2802/Mum/2016, 2803/Mum/2016, 2804/Mum/2016, 3026/Mum/2016, 2805/Mum/2016 Nov 14, 2018 (2018) 54 CCH 0274 MumTrib Legislation Referred to Section…
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the assessments which have already attained finality and does not get abated, then they have to be assessed on the basis of the incriminating material found during the course of search. The reason being that the assessments which are pending and get abated, the entire income has to be determined which includes material already on record and also the material found as a result of search. DCIT v. United Stock Exchange of India Ltd.
the assessments which have already attained finality and does not get abated, then they have to be assessed on the basis of the incriminating material found during the course of search. The reason being that the assessments which are pending…
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