Home Highlights July 2014 Year 2014 This

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1. Validity of Assessment u/s 153C - Notice issued by any officer other than jurisdictional AO - the entire conspectus of the case, it appears that the AO had recorded the...

2. Validity of Referring the matter to DVO - Additions based on valuation report - The High Court noted that the assessee had filed its return for the relevant assessment...

3. If the AO was to invoke the provisions of Sec. 50C, then A.O. should have first referred the matter to the Valuation Officer - CIT(A) has erred in not asking the AO to...

4. Revision u/s 263 - scope of limited scrutiny - the issue of valuation of closing work-in-progress as well as matter relating to agriculture income, which are held by the...

5. Entitled for exemption u/s 47(v) with respect to the transfer of land - Holding company - determination of 100% subsidiary company where 25 shares held by 6 nominees -...

6. Validity of reopening of assessment u/s 147 - In the instant case the primary facts were already disclosed in the Notes to Accounts filed along with the balance-sheet...

7. Scheme of faceless assessment - the time given to the petitioner to show cause was virtually of three days only - It is deemed appropriate that rather than this Bench,...

8. Reference of matter to DVO - assessee challenged the fair market value adopted by the assessing officer during the course of assessment proceeding itself and made a...

9. Reopening of assessment u/s 147 - it appears that the AO has recorded to the effect that he could not refer the matter to the Transfer Pricing Officer nor could he...

10. Addition on account of low GP - cause and effect relationship between the defect found by the AO and the addition made - AO rejected the book results as unreliable, but...

11. Revision u/s 263 - Non-submission of form 3CEB electronically - as result of non filing the case of the assessee could not be referred to the TPO by the AO - ld. Pr. CIT...

12. Modification of Stay order - Similar matter referred to larger bench in another case - appellant has not been able to make out a case for modification of our stay order - AT

13. Disallowance of an expenditure incurred representing the interest paid - case was selected for limited scrutiny on different issues - A.O. has not made any...

14. Money Laundering - proceeds of crime - validity of simultaneous proceedings under different statutes - In the instant case, the FIR was filed for offences under Indian...

15. Assessment completed u/s 153C - Limitation for completion of assessment - Correct date of search - once it is held that the present assessment year i.e., A.Y 2014-15 is...