Assessment u/s 153C - Addition of on-money received on sale of ...

Income Tax

June 6, 2019

Assessment u/s 153C - Addition of on-money received on sale of flats - there is nothing on record to indicate that there is a reference to seized material found during the course of search vis-a-vis addition made by the AO towards estimation of 30% on-money on total sales declared for the year - addition cannot be sustained either on jurisdictional issue or on merits

View Source

← Previous Next →

Assessment u/s 153C - Addition of on-money received on sale of ...

Income Tax

June 6, 2019

You may also like:

Assessment u/s 153C - undisclosed income of the present assessee - As per the provisions of section 153C of the Act, incriminating material which was seized had to...

Addition as income from on money - Year of assessment - addition based on seized material emanating out of the search - Since the nature and source of credit being on-...

Assumption of jurisdiction under 153C - assessment in search cases - Even as per the pre-amended provisions of Section 153C, AO has to record satisfaction to the effect...

Assessment u/s 153C/153A - Addition u/s 68 - Seized incriminating material has to pertain to the assessment year in question and have co-relation, document-wise, with...

Assessment u/s 153A – The addition was made on estimated basis and on assumptions without referring to the specific information in the seized material or any other...

Validity of proceedings u/s 153C - The Tribunal upheld the proceedings u/s 153C, agreeing with the CIT(A)'s decision that the material seized during the search had a...

Validity of Assessment u/s 153C - whether AO of the searched person has not recorded satisfaction note that the books of accounts/material belongs to the assessee ? - In...

Assessment u/s 153A - the concluded assessments cannot be interfered unless there is incriminating material discovered from the seized documents belonging or pertaining...

Taxability of on-money declared by the Assessee in its return of income - Not in dispute that the on-money is nothing but part of sale consideration of the flats and...

Validity of assessment proceedings initiated u/s 153C – since the seized material has no reference to the assessee, it cannot be considered to be belonging to the...

Quick Updates: