2014 (7) TMI 638 - ITAT HYDERABAD
M/s SHETTYS PHARMACEUTICALS & BIOLOGICALS LTD Versus DEPUTY COMMISSIONER OF INCOME TAX
Validity of proceedings u/s 153C of the Act – Assessment of income of any other person - Held that:- The provisions contained u/s. 153C of the Act can only be invoked where there was satisfaction by the AO having jurisdiction over the person searche ......
2014 (7) TMI 214 - ITAT BANGALORE
The Himalaya Drug Company, Makali Versus DCIT, Central Circle 1(1), Bangalore
Issuance of notice passed u/s 153C of the Act - Whether the DRP was justified in issuing its directions beyond the time limit specified u/s 144C (12) of the Act and whether the final assessment order passed by the AO u/s 153C of the Act based on the ......
2014 (7) TMI 94 - BOMBAY HIGH COURT
The Commissioner of Income Tax-1 Versus Bharati Vidyapeeth Medical Foundation
Interpretation and construction of section 153C - assessment of another Assessee – search and seizure action was carried out in the case of one Shri Ramchandra Dada Shinde, working as Accounts Officer - Held that:- There is no general rule laid down, ......
2014 (7) TMI 8 - BOMBAY HIGH COURT
The Commissioner of Income Tax-III Versus M/s. Kumar Company
Interpretation of section 153C - power of AO to assess the income of any other person – Transferable development rights - post search and seizure assessment - Held that:- a casual resort to section 153C of the Act is impermissible. There must be som ......
2014 (6) TMI 807 - ITAT COCHIN
The Dy. CIT, Cent. Cir. 2, Ernakulam Versus Shri KP. Varghese
Estimation of profit in real estate business – proceedings u/s 153BC - search and seizure operations - Held that:- the satisfaction of the assessing officer has to emerge from the material found during the course of search operation. - During the cou ......
2014 (6) TMI 442 - ITAT COCHIN
DEPUTY COMMISSIONER OF INCOME TAX Versus M/s DAMAC HOLDINGS PVT LTD
Validity of assessment u/s 153C of the Act – wrong description of the designation in the notice - Held that:- The search was conducted in the premises of Mohiyuddin is none other than the director of both the companies - Shri Mohiyuddin was describe ......
2014 (5) TMI 362 - GUJARAT HIGH COURT
Rajhans Builders Versus Dy. Commissioner of Income Tax & 1
Validity of petition u/s 153C of the Act - Validity of Reference made to DVO – Valuation of immovable properties – Held that:- At this stage no interference is called for - Section 153C of the Act pertains to assessment of income of persons other tha ......
2014 (5) TMI 355 - ITAT MUMBAI
Mrs. Savia J. Purohit Versus Asstt. Commissioner of Income Tax
Addition made u/s 68 of the Act – Unexplained cash credits – Loans received from various persons – Admission of additional evidences - Held that:- The assessee has received loans from 47 persons in cash during the financial year – the cash loans aggr ......
2014 (5) TMI 199 - BOMBAY HIGH COURT
Commissioner of Income Tax-III, Pune Versus M/s. Kumar Company
Substantial question of law - Sale of Transferable Development Rights (TDRs) - Jurisdiction of the AO to issue notice u/s 153C of the Act - Quantification of profit on sale of TDR - Proper sale rate per sq.ft of TDR – Held that:- The Tribunal has cor ......
2014 (5) TMI 158 - ALLAHABAD HIGH COURT
Commissioner of Income Tax (Central) Versus M/s. Gopi Apartment
Block Assessment - Requirement to record the satisfaction – Proceeding u/s 153A & 153C versus 158BC, 158BD - Notice to be issued u/s 158BD of the Act - Notice for undisclosed income of any other person - At what stage of the proceedings under Chapter ......
2014 (5) TMI 109 - ITAT DELHI
ASSTT COMMISSIONER OF INCOME TAX AND DEPUTY COMMISSIONER OF INCOME TAX Versus M/s SARAYA INDUSTRIES LTD
Validity of assessment u/s 153C r.w. section 153A of the Act – Incriminating documents - Held that:- The common satisfaction was recorded by the AO for initiation of proceedings u/s 153C of the Act in respect of the 19 parties - action u/s 133A of th ......
2014 (4) TMI 966 - ITAT DELHI
ACIT, Central Circle4, New Delhi Versus M/s. Prithvi Sound Products Co. Pvt. Ltd.
Deletion of disallowance u/s 24 of the Act – Expenses of interest on borrowed capital – Whether the addition cane be made u/s 153A/153C of the Act without any incriminating documents - Held that:- CIT(A)’s order is quite elaborate and he has clearly ......
2014 (4) TMI 933 - ITAT AGRA
Smt. Nirmala Devi Keshwani and others Versus DCIT., Central Circle Agra
Validity of proceedings u/s 153C of the Act – Income from house property and income from capital gain – Held that:- The decision in Hardevi Keshwani Versus A. CIT, Central Circle, Agra [2013 (8) TMI 105 - ITAT AGRA] followed - No satisfaction note ha ......
2014 (4) TMI 894 - MADRAS HIGH COURT
Shri. N. Madanlal Daga (HUF) Versus The Assistant Commissioner of Income Tax
Assessment u/s 153C - Addition of income from business and jewellery business - Whether the Tribunal is right in confirming the estimated addition of income from business and jewellery business - Held that:- Tribunal held that there was sufficient e ......
2014 (4) TMI 818 - ITAT HYDERABAD
ASSTT COMMISSIONER OF INCOME TAX Versus SHRI K HEMANTH BABJI, TIRUPATI
Validity of assessment u/s 153C of the Act - Held that:- The condition precedent for assuming jurisdiction u/s 153C is seizure of article or thing or books of account or any documents belonging to the assessee concerned - AO has not referred to any s ......