search u/s 132 Archives

CBDT clarifies raid on the cost accountant of TDP MP Shri Galla Jayadaev

administrator April 11, 2019 Income Tax

CBDT clarifies raid on the cost accountant of TDP MP CBDT in a Press release has stated that the Income Tax Department had conducted search on 9th April, 2019 in Vijaywada at the premises of Sri Gurappa Naidu, a cost accountant. It is stated that the raid was …

Issue of notice u/s 143(2) on the same day, return was filed made entire assessment illegal

administrator March 24, 2019 Income Tax, ITAT

Issue of notice u/s 143(2) on the same day return was filed made the entire assessment illegal for being non application of mind by the AO – ITAT ABCAUS Case Law Citation: ABCAUS 2841 (2019) (03) ITAT Important Case Laws Cited/relied upon by the parties Ashtech Industries Pvt. …

ITD conducted search in Kashmir Valley -undisclosed cash/jewellery and property found

administrator March 16, 2019 Income Tax

ITD conducted search in Kashmir Valley -undisclosed cash/jewellery and property found Income Tax Department (ITD) conducted search actions at 5 locations in the Kashmir Valley on 14th March, 2019. Few places in Jammu were also searched. As per tweet of Finance Ministry, these actions are part of the …

High Court explains mandate of “reasons to suspect” and “reasons to believe” in Income Tax search

administrator December 4, 2018 High Courts, Income Tax

High Court explains mandate of “reasons to suspect” and “reasons to believe” in income tax search, quashed warrants of authorization for search and seizure of lockers ABCAUS Case Law Citation: ABCAUS 2659 (2018) (12) HC Important Case Laws Cited/relied upon: Pooran Mal Vs. the Director of Inspection (Investigation), …

Assessment u/s 153A based on pre-search enquiries and not on incriminating material unearthed during search seizure operation u/s 132 invalid – ITAT

administrator June 30, 2016 Income Tax, ITAT, Judgments

Assessment u/s 153A based on pre-search enquiries and not on incriminating material unearthed during search seizure operation u/s 132 invalid – ITAT ABCAUS Case Law Citation: 960 2016 (06) ITAT Date/Month of Order/Judgment – June, 2016 Assessment Year: 2006-07 & 2007-08 Important Judgments Cited/Relied upon: CIT vs. Kabul Chawla …

Penalty us 158BFA2 for jewellery Loose Papers found during search as undisclosed income deleted as addition was made on the basis of probabilities

administrator May 28, 2016 Income Tax, ITAT, Judgments

Penalty us 158BFA2 for jewellery Loose Papers found during search as undisclosed income deleted as addition was made on the basis of probabilities. Case Law Details: ITA No.85/Lkw/2016 Block Period ending on 14/09/2002 Dr. Harnam Singh vs. ACIT Date of Judgment: 27/05/2016 Brief Facts of the Case: During …

Addition for Jewellery in daughter-in-laws bedroom locker found during search operation u/s 132 deleted when she was having separate sources of income

administrator May 21, 2016 Income Tax, ITAT, Judgments

Jewellery found in daughter-in-law’s bedroom locker of at the time of search u/s 132 can not be added to the assessee’s income when she was having a seperate source of income- ITAT Delhi Case Law Details: ITA No.3763 and 3757/Del/2012 Assessment Year : 2010-11 S.C. Verma vs. ACIT/ACIT vs S.C. Verma Date …

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