Assessment u/s 153C/153A - Computation of the Relevant ...

Income Tax

April 6, 2024

Assessment u/s 153C/153A - Computation of the Relevant Assessment Years Block - Jurisdiction for Reopening Assessments - The Delhi High Court meticulously analyzed the legal and procedural framework governing the reassessment process following search operations. It provided clarity on the computation of the relevant block of years for assessment, the jurisdictional reach of the Income Tax authorities in light of the 2017 amendments, and the procedural safeguards intended to ensure fairness in the reassessment process. The judgments underscore the necessity for a precise satisfaction note and uphold the legislative amendments aimed at capturing undisclosed income extending beyond the standard six-year limitation period, subject to meeting specific criteria outlined in the statute.

View Source

← Previous Next →

Assessment u/s 153C/153A - Computation of the Relevant ...

Income Tax

April 6, 2024

You may also like:

Assessment u/s 153C - inordinate delay in commencement of proceedings - The High court rejected the argument that the proceedings for AYs 2014-15 to 2016-17 were barred...

Assessment u/s 153A - In the case on hand, the search was conducted on 10.08.2017 and the relevant six assessment years immediately preceding the assessment year...

Assessment u/s 153A r.w.s. 153C - Block period - Period of limitation - Where two assessments may result, in the case of a searched entity and the related person, both...

Substitution of new section for section 153B- Time limit for completion of assessment under section 153A. - The limitation for completion of assessment under section...

Assessment u/s 153A - scope of assessments u/s 153C/ 153A - the additions made in the order passed u/s 143(3) r.w.s. 153C, for the captioned assessment years which are...

Validity of assessment passed u/s 153A pursuant to search and seizure - The High Court has observed and held that, the assessee’s assessment for the relevant year stood...

Assessment framed u/s.153A - computation of period of 6 years / 10 years in search cases - amendment of provisions of section 1153A(1)(b) - while computing ten...

Validity of assessment proceedings initiated u/s 153C - In case of other person u/s 153C of the Act, the starting point for computation of the block period would be the...

Assessment u/s 153A - replacement of Chapter XIV-B provisions and introduced Sections 153A, 153B and 153C in the Act by Finance Act, 2003 - The new Section 153A provides...

Initiation of proceedings as barred by limitation - proviso to section 153C - satisfaction to initiate proceedings u/s 153C was arrived on 15.09.2014 and the six...

Block Assessment - Requirement to record the satisfaction – Proceeding u/s 153A & 153C versus 158BC, 158BD - The provisions of Section 158BD are pari materia with the...

Inclusion of AY in which search was conducted into the period of 6 assessment years - recording of satisfaction during the next year - assessment for assessment year...

Assessment u/s 153C/153A - Addition u/s 68 - Seized incriminating material has to pertain to the assessment year in question and have co-relation, document-wise, with...

Assessment u/s 153C - The High court found procedural lapses in invoking Section 153C against the petitioner without concrete evidence of undisclosed transactions for...

Assessment u/s 153C - AR submitted that the impugned assessment order framed under S. 143(3) - the search took place - assessment ought to have been framed u/s 153C...

Quick Updates: