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Income Tax - Highlights / Catch Notes

Home Highlights December 2013 Year 2013 This

Issue regarding the relevant head of income - Admission by the ...

Income Tax

December 30, 2013

Issue regarding the relevant head of income - Admission by the assessee made during the survey cannot be the sole basis for taking a decision by the revenue authorities during the assessment proceedings - AT

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  2. Additions on the basis of Admission / statement made during survey - facts create doubt regarding the genuineness of the survey. Thus addition has been made without any...

  3. Admission of income pursuant to survey operation u/s 133A - If the assessee did not adhere to the surrender made during the survey, it was for the AO to bring on record...

  4. Correct head of income - rental income - Maintenance charges claimed by the assessee can only be treated as separate source of income and it can be charged as a separate...

  5. Addition u/s 68 - disclosure made by the assessee on the basis of documents impounded during the course of survey proceedings - The Tribunal deleted the addition holding...

  6. Validity of reassessment proceedings - Reason to believe - The tribunal found that there was sufficient "reason to believe" that income had escaped assessment due to the...

  7. Income from house property - Income received on leasing of land and building - the assessee had correctly shown the said income under the head “income from house...

  8. Revision u/s 263 - income offered during the course of survey - Applicable rate of tax - the explanation offered by the assessee during the course of survey regarding...

  9. Correct head of income - taxability of rental income - the assessee is owner and thereby receives any income from house property, it should be taxed under the head...

  10. Evidentiary value of a statement made on oath by the assessee for making additions - The assessee can explain or withdraw the admission, if any, made by him in such...

  11. Correct head of income - rental income - except for creating the infrastructure as per the requirement of the lessee, the assessee is not providing any other service...

  12. Unaccounted income over and above the regular income registered in the books of account - There is no dispute that assessee was engaged for development of project of...

  13. Difference in stock found during the course the survey - addition on the basis of statements recorded during the survey u/s.133A does not empower any IT authority to...

  14. Categorization of income - Undisclosed income surrendered during survey - Charging of tax rate u/s. 115BBE - CIT(A) granted relief to the assessee by charging income at...

  15. Best Judgement assessment u/s 144 - Estimation of income - The Assessing Officer issued notices under section 143(2) as well as various notices issued under sections...

 

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