Tag: Search & Seizure
ITD using Digital Forensics & Financial Analysis experts during Search operations Income Tax Department deploying Digital Forensics & Financial Analysis Experts during the conduct of a Search and Seizure action and follow up work. In a world of rapidly changing technology and high data encryption, the Income Tax …
Provisions of section 69 not applicable on the profit from trading of speculative Transactions In a recent judgment, ITAT has held that provisions of section 69 of the Income Tax Act, 1961 (the Act) not applicable on the profit from trading of speculative Transactions, hence higher rate of …
Digital Evidence Investigation Manual of CBDT is mandatory to be followed by ITD while conducting search and seizure and it is not optional – High Court In a recent judgment, the Hon’ble High Court has held that it is mandatory for the ITD to follow the Digital Evidence …
It is quite reasonable and logical for a married daughter to keep her jewellery with her mother. ITAT deleted addition u/s 69 for jewellery found in locker In a recent judgment ITAT has deleted the addition of jewellery found in locker holding that it is quite reasonable and …
Once, relief is granted based on the remand report of the AO, revenue would be precluded from filing any further appeal – ITAT In a recent judgment, the ITAT has held that once, relief is granted based on the remand report of the AO, revenue would be precluded …
Diamond jewellery is always studded with gold and loose diamonds were found during search operation, ITAT deleted addition u/s 69A ABCAUS Case Law Citation:ABCAUS 3832 (2024) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the order of the …
No addition can be made on the basis of dumb papers seized in search without establishing any relation with the assessee – ITAT ABCAUS Case Law Citation:ABCAUS 3828 (2023) (12) ITAT Important Case Laws relied upon by parties:Clarity Gold Pvt. Ltd. v/s PICTGEM Mart India Pvt. Ltd. 306 …
No prosecution u/s 275B when electronic gadgets and ERP user IDs and passwords was provided to search party – Sessions Court In a recent judgment, the Sessions court has set aside the summon order holding hat Vague or incongruous answers to questions do not attract section 275B except …
Procedure to requisition services of Police/Govt. Official in search operation & reference to valuer CBDT has issued Notification No. 70/2023 dated 28.08.2023 prescribing a new Rule 13 for procedure to be followed for requisition of services of Police/Govt. Official in search operation & reference to valuer u/s 132 …
Explanation that jewellery was acquired out of agricultural income of Bigger HUF before its partition cannot be termed as not plausible – ITAT ABCAUS Case Law Citation:ABCAUS 3753 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition …