Home Highlights March 2014 Year 2014 This

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1. Validity of search u/s 132 - place of search - the search conducted in the premises in which the assessee may not be carrying on the business would not nullify the...

2. Assessment u/s 153A - As per section 292C,, the loose sheets, books of accounts found during the course of search /survey are presumed to be belonging to the assessee,...

3. Assessment u/s 153A - The keys of the locker were found from the residential premises of the assessee during the course of search on employers residence of the assessee....

4. Assessment passed u/s.153A - Presumption in case of seized documents - Assessee’s son was also covered under the search in the same premises and the document found from...

5. Validity of proceedings u/s 153A - When the name of the assessee does not appear in the panchanama and no material is seized with respect to the assessee from business...

6. Addition u/s 68 - Assessee is not named in MOU, either as a party or as a witness. No cash was found or seized during the search conducted on the premises owned by the...

7. Validity of search action initiated - receipt of search warrant - Once the Managing Director of the company says that the search was carried out in the premises of the...

8. Validity of proceedings u/s 153A - Before this Court also the Revenue has not been able to demonstrate that there exists in the records of the Revenue a valid search...

9. Powers of officers conducting search and seizure to remain stayed in the premises for unlimited period - Key person was not found at home during search - Protection of...

10. Validity of assessment u/s 153A - ‘Document’ was seized during the course of the search proceedings from the premises of Cosmos group, therefore, as per Sec. 132(4A)(i)...

11. Assessment u/s 153A - additions in unabated assessments - additions in unabated assessments without any incriminating material found during the course of search u/s 132...

12. Validity of proceedings u/s 153A - Whether "no search was conducted” on the assessee? - Observations of the ld. CIT(A) that there was no warrant executed at the address...

13. Addition based on loose sheets found during the search - on money payment - Addition u/s. 69A r.w.s.115BBE - -Since, search u/s. 132 was conducted in the residence and...

14. Assessment u/s 153A - Addition u/s 68 - bogus LTCG - Except the statement of the assessee u/s. 132(4) agreeing for the addition there is no seized incriminating material...

15. Authority and jurisdiction - Power to search versus Power to seal u/s 105 - it does not appear that the premises of the petitioner were not available for the purpose of...