Tag: Search & Seizure
Addition for alleged cash payment based on file/data retrieved from hard disk found during search of third party quashed in absence of corroborative evidence ABCAUS Case Law CitationABCAUS 3404 (2020) (10) ITAT Important case law relied upon by the parties:Subhash KhattarArvind Nath Seth & Sons HUFCIT vs. Alpha …
Income Tax searches/raids in Bihar & UP of person in business of mining and hotel industry & one chairman of a large cooperative bank. 07 OCT 2020 3:45PM Income Tax raids in Bihar & UP The Income Tax Department, on the basis of actionable intelligence received, conducted search …
Addition made on the basis of cancelled money receipt found during search quashed as its contents was not confronted with issuer ABCAUS Case Law CitationABCAUS 3401 (2020) (10) ITAT Important case law relied upon by the parties: In the instant case, the assessee had challenged the order passed …
Addition for jewellery found in search deleted as net weight found in search was lower than jewellery found during earlier search despite minor mismatch in items of jewellery. ABACUS Case Law CitationABCAUS 3376 (2020) (08) ITAT Important case law relied upon by the parties:Krishan Kumar Modi versus ACIT …
Income Tax Department conducts searches in Bhopal Government of India Department of Revenue Ministry of Finance Central Board of Direct Taxes New Delhi, 21st August, 2020 Income Tax Department conducts searches in Bhopal PRESS RELEASE The Income Tax Department carried out a search and seizure operation …
No Penalty u/s 271AAB unless undisclosed income found from seized material. Disclosure made in statement u/s 132(4) not sufficient to levy penalty ABACUS Case Law CitationABCAUS 3360 (2020) (08) ITAT Important case law relied upon by the parties:Ravi Mathur vs. DCITDinesh Kumar Agarwal vs. ACITRaja Ram Maheshwari vs. …
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 …
Addition u/s 69 on the basis of unsigned receipts found during search deleted. Such unsigned receipts could not have been treated incriminating documents ABCAUS Case Law Citation:ABCAUS 3251 (2020) (02) ITAT In the instant case, the appellant assessee had challenged the order of the CIT(A) in confirming the …
Income Tax search on prominent persons in Film Industry in Tamil Nadu including Actor Vijay, financier and production house in connection with film Bigil which reportedly collected Rs 300 crore at the box office Income Tax Department conducts search on prominent persons in Film Industry in Tamil …
Income Tax Department conducts search & survey operations on Share Brokers/Traders across India On 3rd December 2019, the Income Tax Department carried out search and survey operations on certain share-brokers/traders who were involved in facilitating accommodation of profits/loss through reversal trades in illiquid stock optionsin Equity Derivative Segment and …
