Home Highlights February 2014 Year 2014 This

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1. Protective assessment/addition - No substantive assessment/addition in the hands of other assessee - It is therefore a case where no substantive additions have been made...

2. Validity of Addition on protective basis - Although, there is no provision in the Income Tax Act authorizing the levy of income tax on a person other than whom income...

3. Assessment u/s 153A - Addition of bogus purchases on protective basis in the hands of the assessee - Unless, it is brought over knowledge the fate of substantive...

4. Addition of capitation fees/donation made on protective basis in the hands of the assessee - Since the additions has been made in the hands of another person, no...

5. Assessment u/s 153A - Protective assessment while making additions in the hands of son/grandson - interest income arising out of funds - By no stretch of imagination the...

6. Protective assessment - Addition u/s 69/69C - Unaccounted investment ad unaccounted commission - CIT(A) has confirmed the substantive additions on the three entities so...

7. Unaccounted investment - Addition in the hands of the assessee on protective basis on account of expenses u/s. 69C - We find no infirmity in the order of learned...

8. Protective assessment - Addition in the hands of the Assessee Firm on protective basis - since the substantive addition has not been survived on account of being time...

9. Protective addition made in the hands of the assessee - addition u/s 68 - the Revenue cannot take different stand in respect of these two assessee.

10. Undisclosed investment - Addition based on loose sheet found in search - if ₹ 10.10 crores is added in the hands of the assessee, as done in the impugned...

11. Protective addition - when addition was already made in the hands of the overseas companies on substantive basis treating them as residents in India, there is no...

12. Validity of assessment u/s 153A - Non issuance of notice U/s 143(2) - Protective assessment - the assessment has been made on a protective basis, but, it is not clear...

13. Assessment u/s 153A - excess jewellery found in the residence of the assessee during the search - all the family members are income tax payee and are filing their...

14. Addition in the hands of the assessee was made on protective basis which means the AO himself was not confident with respect to the tax liability of the alleged income...

15. Protective addition cannot be converted into substantive addition in the hands of an assessee merely because substantive addition was not made in the hands of another...