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Income Tax - Highlights / Catch Notes

Home Highlights August 2023 Year 2023 This

Addition made on the basis of loose papers found and seized from ...

Income Tax

August 17, 2023

Addition made on the basis of loose papers found and seized from the third person - the jottings made without identification of any asset or investment cannot be the basis for making the addition of unexplained investment as done by the assessing officer. - Ld CIT(A) deleted the addition correctly. - AT

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  1. Addition on the basis of entry found in the "bahi" of third party - any entry found on loose papers in the premises of the third party without any corroborative...

  2. Understatement of sales - search and seizer operation were carried wherein the certain loose papers were found and seized - When all the explanation, documents were...

  3. Additions on the basis of material seized during the search in case of third party without adhering to the provisions of section 153C - The tribunal found that the AO...

  4. Addition - presumptions u/s 132(4A) - this is not a case where the additions are made on the basis of mere loose papers seized during search. It is a case where the...

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  6. Search proceedings - Addition based on loose sheets found - presumption u/s 1324A and 292C cannot be drawn against third party from whose possession, no documents etc....

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  8. Additions made on the basis of loose papers found and impounded from the premises of the assessee - Presumption u/s 292C - CIT(A) applying the telescoping reduced the...

  9. Assessment u/s 153A - the proposition made by the revenue towards making addition on the basis of the figures mentioned on the said loose dumb document cannot be...

  10. Addition u/s 69B - On-money payment in cash - Unless something is brought on record or AO conducts inquiry that the said person in whose possession it was found has...

  11. Assessment u/s 153A - corroboration by way of independent evidence - the addition can be made on the basis of the seized diary only if proper nexus is established and...

  12. Assessment u/s 153C - unexplained sale consideration - Addition based on some computer generated loose sheets which was seized and found from the computer of another...

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