Home Highlights April 2012 Year 2012 This

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1. Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

2. Penalty levied u/s 271(1)(b) - assessee had failed to provide full submissions - penalty levied by the Assessing Officer u/s 271(1)(b) of the IT Act deserves to be...

3. Additions towards Undisclosed profit made on the basis of the seized documents - ITAT deleted the additions - Now, look at the reasons given by the tribunal. It cast a...

4. Revision u/s 263 - assessee has made purchases in cash - when the learned assessing officer was not required to enquire on those issues such as purchases in cash more...

5. Validity of the assessment framed under section 158BD - In the absence of the basic documents evidencing accommodation entry being provided to the assessee, the bank...

6. Addition on account of unaccounted receipts - When the assessee has asserted before the Assessing Officer that it has not received any such income, the Assessing Officer...

7. Addition u/s 68 - cash credit in the books of accounts - issue of shares warrant - As assessee has submitted the complete details before the assessing officer and...

8. Assessment u/s 153A - unexplained investment - the Assessing Officer failed to record as to how the documents found during search reflected any undisclosed income of the...

9. Classification of goods - Pattadar Pass Book cum Title Deed is a “Document of Title” - printing books - the Pattadar Pass Book cum Title Deed is not a document of title...

10. Revision u/s 263 - bogus purchase - proof of nexus between the purchases and sales - once submission/reply filed by the assessee, pursuant to enquiry by the Assessing...

11. Validity of Assessment u/s 153A - in cases where the assessment or reassessment proceedings have already been completed and assessment orders have been passed, which...

12. Revision u/s 263 by CIT - Unexplained bank deposits - PCIT, without making further inquiry on his own account, has simply stated in the impugned order that the Assessing...

13. Rectification of mistake u/s 154 - Disallowance of provision for ex-gratia - CIT(A) has provided an opportunity to the assessing officer to examine the mistake committed...

14. Deduction claimed u/s 54 - oint owners of the house property having 50% right, title and interest over the property - Since the assessee and her son have jointly...

15. Unaccounted investment u/s 69 - Addition on account of suppressed purchase price of land purchased - Since the Assessing Officer failed to pinpoint any instance by...