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Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

Additions made on the basis of papers found in the course of ...

Income Tax

May 21, 2016

Additions made on the basis of papers found in the course of search - additions made on the basis of papers found in the course of search without bringing any corroborative evidence is not factually sustainable - AT

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  1. Addition made on the basis of declaration of the assessee during search action - bogus purchases - The said letter clearly indicates that the additional income declared...

  2. Understatement of sales - search and seizer operation were carried wherein the certain loose papers were found and seized - When all the explanation, documents were...

  3. Assessment u/s 153A - Assessment for AY 2006-07 was already completed prior to the date of search and having not abated, the scope of proceedings u/s.153A of the Act had...

  4. Addition - presumptions u/s 132(4A) - this is not a case where the additions are made on the basis of mere loose papers seized during search. It is a case where the...

  5. Validity of Assessment u/s 153A - The information obtained from outside agencies which was confronted with the assessee during the search cannot be considered as...

  6. Assessment u/s 153A - The seized paper merely reflect the date, name of transferor and transferee and number of shares. The document does not speak of any unexplained...

  7. Search and seizure - basis of additions – Even if an illegal search does not vitiate the discovery of incriminating document during search and the department may rely...

  8. Levy of Penalty u/s 271AAA or u/s 271(1)(c) - whether addition is made on estimation basis or on the basis of certain evidences, fact remains that the additions made in...

  9. The additions over and above the assessed income cannot be made dehors the incriminating material found at the time of search while completing the assessment under...

  10. Reopening of a concluded case u/s 153A - in absence of any incriminating material found as a result of search, the addition made u/s 153A cannot be sustained - AT

 

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