Home Highlights November 2014 Year 2014 This

You may also like:

1. Use of materials seized and the statement furnished by the third parties against the assessee - the opportunity for the rebuttal to the assessee for the seized documents...

2. Validity of statement - retraction of statement - the statement recorded u/s. 132(4) cannot be discarded merely because the retractment statements were filed. The...

3. Addition based on retracted statement recorded on oath u/s 132(4)/133A - Statement taken even u/s 132(4) of the Act cannot be used as conclusive evidence if it is not...

4. Depreciation disallowed on the reason that 4 trademarks have been included in the block of assets are not put to use - in relation to block of assets, it is not possible...

5. Addition on account of income surrendered as per statement u/s 132(4) - though the statement recorded u/s 132(4) has a better evidentiary value but it is also a settled...

6. Undisclosed Capital gain - Scope of block assessment proceedings - AO is concerned only with undisclosed income and he has no power to consider material and evidence not...

7. Reopening of assessment u/s 147 - Reopning after 4 years - As per the mandate of law, even where a concluded assessment is sought to be reopened by the A.O within a...

8. Undisclosed income - retraction of the statement - the assessee has been consistent in his statements so recorded even during the post search proceedings when his...

9. Rectification of error - Period of limitation - The High Court observed that, there is no limitation prescribed for passing order under Section 22(4) of the TNVAT Act,...

10. Block assessment - section 158BB(4) - set off of the loss suffered in any of the previous year in the block period against the income assessed in other previous years in...

11. Block assessment - Participation in assessment proceedings - Notice u/s 143(2) was not serviced - assessment not valid even under section 292BB.

12. Reopening of assessment u/s 147 - The High Court observed that, the expression “accommodation entry” and “bogus financial transaction” in the recorded reasons are not...

13. Capital gain - period of limitation for deposit the amount in Capital Gain Account Scheme - Sub-Section (4) of Section 139 provides extended period of limitation as an...

14. Assessment u/s 147 - Additions u/s 68 - The regular assessment and block assessment are both separate proceedings and even can run parallel - assessee has failed to...

15. Undisclosed Income - scope of statements recorded u/s 132(4) - admission of payment of Capitation Fee to the Engineering College does not mean ipso facto declaration of...