Tag: Survey u/s 133A

Only DG Investigation and Commissionerates TDS authorised to have power to order income tax survey u/s 133A with effect from 13th August, 2020. F. No.  187/3/2020-ITA-IGovernment of IndiaMinistry of Finance Department of Revenue (Central Board of Direct Taxes)***** North Block, New Delhi – 110001. Dated the 13th August, …

Sales of entire year could not be estimated based on cash found during survey. By no means it could be considered as sale of day ABCAUS Case Law Citation:ABCAUS 3237 (2020) (01) ITAT In this case the appeal was filed at the behest of the assessee against the …

Evidentiary value of a statement made on oath by the assessee to the income tax authority in survey proceedings u/s 133A of the Income Tax Act-High Court explains ABCAUS Case Law Citation:ABCAUS 3144 (2019) (09) HC Important case law relied upon by the parties:Paul Mathews and Sons v. …

Procedure for valuation of inventory from tag price during survey u/s 133A-Cost price has to be determined and due deduction to be given towards direct expenses – ITAT ABCAUS Case Law Citation: ABCAUS 2477 (2018) 08 ITAT Important Case Laws Cited/relied upon: CIT v. S. Khader Khan Son, …

Addition for cash found short at the time of survey deleted by the ITAT. In the absence of any other evidence regarding the user of such cash, it should be considered as utilized for purchasing goods found in excess of book stock. ABCAUS Case Law Citation: ABCAUS 2392 …

No concealment if income returned and accepted is same where assessee surrenders income at survey action before the end of the financial year – ITAT  ABCAUS Case Law Citation: ABCAUS 2390 (2018) 07 ITAT The instant appeal was preferred by the Revenue against the order of Commissioner of …

Allegation of Planting Register by Income Tax Department during survey rejected by ITAT as apparently an error occurred in recording correct number of pages ABCAUS Case Law Citation ABCAUS 2360 (2018) 06 ITAT The instant appeal was filed by the appellant assessee agitating the Order passed by the …

In a recent judgment, ITAT Chennai has held that a statement recorded u/s 133A can not be retracted saying survey team had exerted force on the assessee when he issued a cheque by properly preparing, signing it for the amount surrendered. Case Law Details: I.T.A.No.1429/Mds./2015 Assessment Year :2007-08 …

INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”, NEW DELHI I.T.A. No. 6509/DEL/2014 A.Y. 2010-11 M/S IIBS INFONET (P) LTD (APPELLANT)  vs. ACIT (RESPONDENT) Date of Order: 08/03/2016 ORDER PER H.S. SIDHU : JM This appeal by the Assessee is directed against the order of the Ld. Commissioner of Income Tax (Appeals)-II, New …