Home Highlights October 2013 Year 2013 This

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1. Undisclosed Capital gain - Scope of block assessment proceedings - AO is concerned only with undisclosed income and he has no power to consider material and evidence not...

2. Block assessment - Applicability of Chapter XIV B - addition to the peak of loans - The Assessing Officer cannot indulge in roving enquires regarding the issue that has...

3. Undisclosed income of the assessee for the purpose of Chapter XIV B of the Income Tax Act - when section 158BB(3) is read with section 158B(b), which defines undisclosed...

4. Block assessment - computation of undisclosed income of block period under Section 158BB - Reliance on material gathered in the course of survey - the Tribunal set aside...

5. Block assessment - Receipt of two gifts received by the assessee and the gift to the Assessee’s wife - Where an income and assets are disclosed in the books of account...

6. Assessment u/s 153C/153A - Computation of the Relevant Assessment Years Block - Jurisdiction for Reopening Assessments - The Delhi High Court meticulously analyzed the...

7. Excess stock found during the course of survey - Additions u/s. 69B r.w.s. 115BBE - the additional income offered towards excess stock found during the course of survey...

8. Reopening of assessment u/s 147 - double deduction u/s 80IB - In the reasons for re-opening, there is not even a whisper as to what was not disclosed. In our view, this...

9. Reopening of assessment u/s 147 - Reasons for belief that income has escaped assessment - Merely having a reason to believe that income had escaped assessment, is not...

10. Block assessment - Undisclosed income versus opening capital - block assessment - held that:- the said opening capital accrue to the assessees at a point of time...

11. Revision u/s 263 - Classification of rental income - House property v/s business income - The Appellate Tribunal observed that the Assessee is primarily engaged in...

12. Disclosure of income under VDIS - set off of tax under VDIS with advance tax (including TDS) in regular course - a Section 70 and 71 mandate that the income disclosed in...

13. Block assessment u/s 158BC – Section 153 (2A) of the Act is attracted to an order for fresh assessment to be passed under Chapter XIV B of the Act in pursuance of the...

14. Block assessment - notice u/s 158BC - Tribunal cancelled the assessments as invalid and void-ab-initio? - Search u/s 132 is a pre- requisite for invoking the provisions...

15. Income from undisclosed sources - addition of agricultural income - Assessment of agricultural income declared by the assessee for various assessment years was...