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Income Tax - Highlights / Catch Notes

Home Highlights October 2018 Year 2018 This

CBDT has emphasized to its officers to focus on gathering ...

Income Tax

October 20, 2018

CBDT has emphasized to its officers to focus on gathering evidences during search/survey operations and strictly directed to avoid obtaining admission of undisclosed income under coercion/ undue influence. - Addition merely based on statement recorded during survey cannot sustain.

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  3. Seeking grant of bail - irregular availment of Input Tax Credit - creation and operation of fake GST firms and issuing fake GST invoices from these firms - The High...

  4. Exemption u/s 11 - Cancellation of registration u/s. 12AA post survey - Assessee contended that survey proceedings gets abated after search and assessment u/s 153A -...

  5. Overvaluation of export goods - There is no illegality in conducting a local market survey to gather the valuation of the goods for the purpose of exercising power under...

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  9. Levy of penalty u/s 271(l)(c) - additional income disclosed due to search and survey at the premises - wherein the returned income has been accepted, penalty cannot be imposed - AT

  10. Substantive protective additions - CIT(A) has already placed reliance on the CBDT circulars that such admissions or confessions; as the case may be, made during the...

 

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