Tag: satisfaction u/s 153C
Assessment u/s 147 on the basis of seized material found during search of third party void ab-initio – ITAT In a recent judgment, ITAT has quashed the re-assessment order passed u/s 147 holding that when incriminating material is seized belonging to person other than searched, assessment has to …
Amendment to Section 153C vide Finance Act, 2015 applicable to searches conducted u/s 132 before 01.06.2015 – Supreme Court ABCAUS Case Law Citation:ABCAUS 3698 (2023) (04) SC Important Case Laws relied upon by parties:Pepsico India Holdings Private Limited Vs. Assistant Commissioner of Income Tax, 2014 SCC OnLine Del …
Mandatory provisions of Section 153C must be followed before proceeding where AO is same for person searched and third party ABCAUS Case Law CitationABCAUS 3496 (2021) (04) ITAT Important case law relied referred:CIT vs. RRJ Securities Pvt. Ltd. 380 ITR 612 (Del.) (HC)CIT vs. Swar Agencies 397 ITR …
Where AO of searched person and other person same, there can be one satisfaction note prepared by the Assessing Officer (AO) – Supreme Court ABCAUS Case Law Citation:ABCAUS 3285 (2020) (03) SC Important case law relied upon by the parties:Commissioner of Income Tax v. Calcutta Knitwears (2014) 6 …
Incriminating documents belonging to or containing information pertaining to assessee. The High Court explains the amendment made in section 153C ABCAUS Case Law Citation:ABCAUS 3122 (2019) (08) HC Important case law relied upon by the parties: Pepsi Foods Pvt. Ltd. v. Assistant Commissioner of Income Tax (2014) 367 …
Proceedings initiated u/s 148 instead of section 153C quashed. ITAT explains the difference between jurisdiction under both sections ABCAUS Case Law Citation:ABCAUS 3121 (2019) (08) ITAT Important case law relied upon by the parties:National Thermal Power Co. Ltd., Vs. CIT (SC).Smt.Archana Pandey Vs. ITO (2013) F G. Koteshwara …
Assessment order u/s 153C will supersede an earlier order passed u/s 143(3). ITAT allowed the additional ground raised and restored the issue to the file of Assessing Officer ABCAUS Case Law Citation: ABCAUS 2582 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. Anil …
Assessment us 153C based on paper not belonging to assessee held as bad. Shifting the burden on assessee without making basic enquiries to unearth truth of the document can not be accepted-Delhi High Court ABCAUS Case Law Citation: ABCAUS 1254 (2017) (05) HC The Grievance: The appellant Revenue …
Satisfaction recording 153C-same AO for searched-other person. Even if AO is one then also satisfaction has to be recorded as held by Supreme Court ABCAUS Case Law Citation: 1050 (2016) (11) ITAT The Grievance: In the instant case both Revenue and the assessee were aggrieved by the …
