Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

Neeta Saha Versus ITO, Ward 46 (1) , New Delhi

Bogus gifts - assessment u/s 153A - Held that:- As apparent from the order of the CIT(A) that the statement u/s 132(4) has been recorded in the case of the husband of the assessee and not in the assessee’s case. The husband of the assessee has admitted the gifts received by him to be bogus. However, there has been no such statement of the assessee that has been recorded during the search proceedings. Further it is observed that the ld. AO had not seized any documents/incriminating material, to s .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

he Act. Following the jurisdictional High Court in the case of CIT vs. Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT ] set aside the assessment made by the ld. AO u/s 153A of the Act. - Decided in favour of assessee - I.T.A .No.-3436/Del/2010 - Dated:- 24-2-2016 - SHRI N.K. SAINI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER For The Appellant : Shri Salil Aggarwal, Adv. For The Respondent : Shri Dev Joyti Das, CIT - DR ORDER PER BEENA PILLAI, JUDICIAL MEMBER: The present appeal is .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

of involving himself into reassessment proceedings rather than completing the assessment on the basis of seized material. Therefore, the entire proceedings of the Assessing Officer are invalid, beyond the scope of section 153A. 3. That the Revenue Authorities completed the assessment and appellate proceedings with pre conceived motion and without affording adequate and reasonable opportunity of being heard to the appellant. 4. That the appellant reserves the right to add, alter, amend or delete .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

operation. Smt. Neeta Saha was assessed by Ward 46(1), New Delhi. Accordingly, punchnama files, photocopies of seized documents relating to assessee were transferred to the AO being ITO, Ward 46(1). Accordingly, notice u/s 153A was issued to the assessee. The assessee had filed her return of income on 26/07/2002 for the year under consideration declaring a total income of ₹ 1,65,215/-. On receipt of the notice u/s 153A the assessee filed her return of income on 18/12/2009 declaring the ret .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

of relationship between the donor and the assessee(done), and the gift deed submitted by the assessee was incomplete. 3. Aggrieved by the order of the ld. AO the assessee preferred an appeal before the ld. CIT(A). The ld. CIT(A) confirmed the addition made by the ld. AO on the ground that Shri Anil Kumar Saha, the husband of the assessee, had accepted during the search operation and assessment proceedings, in his case, that the gift received by him was bogus, and he had surrendered the amounts .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e upon to disprove these documents. The ld. AR submitted that there was no incriminating material that was relied upon by the ld. AO to make the addition in the hands of the assessee. He relied upon the decision of the jurisdictional High Court in the case of CIT vs. Kabul Chawla reported in 380 ITR 573. 5. On the contrary the ld. DR submitted that, admittedly though there is no seized documents, the addition has been made based on the statement recorded u/s 132(4) of the Income Tax Act. 5.1 The .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ould have a bearing on the additions made in the assessment proceedings. The ld. DR submitted that there has been a statement recorded u/s 132(4) cannot be overlooked. He relied upon the order of the authorities below. 6. The ld. AR in the rejoinder submitted that there has been no statement of the assessee that was recorded during the search proceedings. It was the statement of her husband, being Anil Kumar Saha that was recorded. Shri Anil Kumar Saha has admitted the gifts to be not genuine an .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     Latest Happenings     ↓  

Forum: GST on RCM on rent in a unregistered state

Forum: COMPOSITION SCHEME

Forum: Input Tax Credit - Reg

Forum: GST Invoice

Article: Websites of Government Departments need lot of improvement. We are noticing detoriations in them for example, case of website of ITAT.

Highlight: Levy of additions tax u/s 115O on distribution of dividend - shares of its profits declared as distributable among the shareholders is not impressed with the character of the profit from which it reaches the hands of the shareholder - not to be bifurcated as agriculture and non-agriculture dividend - SC

Highlight: Rate of GST on old and scrap buses - 28% or 18% - at such initial tender process initiated by the Respondents-KSRTC, the present petitions filed by the petitioners are premature and misconceived and do not require any interference by this Court at this stage. - HC

Forum: Rent a cab operator

Highlight: In view of amendment made u/s 132A of the Income Tax Act, 1961 by Finance Act of 2017, the 'reason to believe' or 'reason to suspect', as the case may be, shall not be disclosed to any person or any authority or the Appellate Tribunal, SC dismissed the appeal of the assessee

Highlight: Validity of Assessment Order - period of limitation u/s 153 (2A) is applicable even if the entire order was not set aside but matter was remanded back for for limited aspects with directions - HC

News: Note ban was a shake-up, achieved its main objectives

Notification: Amendments in the notification No.5/2017- Integrated Tax (Rate) dated the 28th June, 2017.

Highlight: Levying interest u/s 234C - interest is to be charged on the returned income and not on assessed income.

Highlight: Accrual of income - sale of right to develop and sell incentive FSI under LOI - till the conditions of LOI are fulfilled transfer is not complete and income does not accrue to the assessee

Highlight: TPA - determination of ALP - TP adjustment by applying Bright Line Test (BLT) is not sustainable on protective basis having no statutory mandate.

Highlight: Safeguard Duty - Advance License Scheme - as there is no exemption from safeguard duty leviable under Section 8C, which is imposed on the goods imported from China, the importer has to pay safeguard duty

Highlight: Manufacture - process of cutting of waste plastic container - Such plastic containers before and after cutting are nothing but waste / scrap - Not a manufacturing activity as no new product emerges.

News: NITI Aayog and Govt. of Assam organizes workshop on health sector reforms in Guwahati; launches SATH- Sustainable Action for Transforming Human Capital

Notification: Seeks to amend notification no. 5/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding restriction of refund on corduroy fabrics

Notification: Seeks to amend notification no. 2/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst exemptions

Forum: GSTR 3B Rectification

Notification: seeks to exempt Skimmed milk powder, or concentrated milk

Notification: Seeks to amend notification no. 2/2017- integrated tax(rate) dated 28.06.2017 to give effect to GST council decisions regarding GST exemptions.

Notification: Seeks to amend notification no. 1/2017- central tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst rates

Notification: Seeks to amend notification no. 1/2017- integrated tax(rate) dated 28.06.2017 to give effect to gst council decisions regarding gst rates.

News: Notification Issued For GST Actionable Claim On Branded Food Products

Highlight: Classification printed computer stationary/manifold Business Forms - to be classified under Chapter Heading 4820.00 or under Chapter Heading 4901.90 - items like A4 sheets, advertisement and job card to be classified under Chapter 49

Article: RCM – Applicability to persons not liable to get registered us 23(1)

Article: Credit of unsold stock [Section 140(3)] - Actual Credit as well as Notional Credit - Part-I - GST Transitional provisions

News: GST Refund - Blockage of Working Capital of Exporters - earlier also there was a normal blockage of funds for a period of 5-6 months at least

News: Clarification about Transition Credit - ₹ 1.27 lakh crore of credit of Central Excise and Service Tax was lying as closing balance as on 30th June, 2017 - claim of credit of ₹ 65,000 crore is not unexpected

Article: 20 Things You must know about E Way Bills in GST Law

Article: MISTAKES IN DRAFTING

Highlight: The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes -reg. - Circular

Highlight: The definition of "subsidiary company" or "subsidiary" u/s 2(87) of the Companies Act, 2013 shall come into force w.e.f. 20-9-2017

Highlight: Central Government notified the All Industry Rates of Duty Drawback Schedule w.e.f. 1.10.2017 - Notification

Notification: All Industry Rates of Duty Drawback Schedule w.e.f. 1.10.2017

Circular: Investment by Foreign Portfolio Investors in Corporate Debt Securities – Review

Notification: Exemptions on supply of services under UTGST Act

Notification: Rates for supply of services under UTGST Act

Notification: Exemptions on supply of services under IGST Act

Notification: Rates for supply of services under IGST Act

Notification: List of Exempted supply of services under the CGST Act

Notification: Rates for supply of services under CGST Act

Highlight: Acceptance of deposits by companies from its members - conditions relaxed in case of Specified IFSC Public company and a private company - Rule 3 amended

Notification: Rate of exchange of conversion of the foreign currency with effect from 8th September, 2017

News: Tax Payers Advised To Confirm Identities Of Income Tax Search Authorities

Notification: Amendment in Appendix 3 (SCOMET items) to Schedule- 2 of ITC (HS) Classification of Export and Import Items 2012

Notification: The Customs and Central Excise Duties Drawback Rules, 2017

Circular: The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes -reg.



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version