Home Highlights October 2011 Year 2011 This

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1. Reopening of assessment u/s 147 - Notice issued on the basis of statement recorded during survey u/s 133A - The High court observed that the survey conducted led to...

2. Dishonour of Cheque - validity of notice issued - as in the notice which was issued after the bouncing of the cheque, there was no demand of the amount of the bounced...

3. Addition based on survey proceeding - Unexplained stock of gold and silver jewellery - The statement given during the course of survey is not a statement on oath as...

4. Validity of the assessment framed u/s 147 - Proof of service of notice - There was no valid service of notice u/s 148 of the Act in the present case. The finding of the...

5. Retraction of statement given during survey - evidentiary value of statement recorded u/s 131 - Despite the retraction, the initial findings of the CIT(A) were largely...

6. Validity of Survey proceedings u/s 133A conducted in absence of assessee - Manner of conducting survey u/s 133A - There was a time gap of more than 3 ½ years between the...

7. Penalty u/s 271(1)(c) - There cannot be a penalty merely on the basis that the assessee has disclosed income after receiving the notice from the ADIT and the income was...

8. Reopening of assessment u/s 147 - For section 292BB to apply, the notice must have emanated from the Department. It is only the infirmities in the manner of service of...

9. 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...

10. Exemption from turnover - inter-state sale or not - Form-F declaration - false document - consignment sales or not - AO rejected the claim on inter-state movement of...

11. Denial of input tax credit - Validity of assessment order - demand based on defects pointed out by the Enforcement Wing - A report from the Enforcement Wing may be a...

12. Validity of reopening of assessment - The High Court found that the Assessing Officer issued the notice based on the survey action on Jammu & Kashmir Bank, conducted...

13. Maintainability of writ petition - alternative and efficacious mechanism - Inordinate delay in issue of Show cause notice (around 16 years) - Issuance of Global...

14. Block assessment - computation of undisclosed income of block period under Section 158BB - Reliance on material gathered in the course of survey - the Tribunal set aside...

15. Recovery under demand notices based on alert issued 5 years ago - Bonds for Warehoused goods has already expired - The High Court determined that the demand notice...