Assessment u/s. 153A - the tax can be levied as per the ...

Tax u/s 153A: Consent to Additions Isn't Grounds for Levy; Provisions of Income Tax Act Must Apply.

November 13, 2019

Case Laws Income Tax AT

Assessment u/s. 153A - the tax can be levied as per the provision of the Act. Thus, the tax cannot be charged from the assessee merely on the ground that he agreed for certain addition during the assessment proceedings.

View Source

← Previous Next →

Assessment u/s. 153A - the tax can be levied as per the ...

Tax u/s 153A: Consent to Additions Isn't Grounds for Levy; Provisions of Income Tax Act Must Apply.

November 13, 2019

Case Laws Income Tax AT

You may also like:

Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

Assessment u/s 153A - Addition u/s 69A by the Assessing Officer on account of difference in amount credited in bank and sale proceeds shown in the income tax return. It...

Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of...

Validity of Addition on protective basis - Although, there is no provision in the Income Tax Act authorizing the levy of income tax on a person other than whom income...

Taxability of income - Characterization of receipts - software sub-licence fee - the income in dispute, since can be classified under other Articles of the tax treaty,...

Interpretation of statute - Levy of VAT - credit note received subsequent to the date of the invoice - Determination of Turnover - Input Tax Credit - Large Bench...

The assessee had been following the mercantile system of accounting, wherein book profits are taken for tax assessment, though credit or debit amounts may not be...

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

The assessee company is eligible to claim Foreign Tax Credit (FTC) against its Minimum Alternate Tax (MAT) liability u/s 115JB of the Income Tax Act for taxes paid in...

Assessee declared cash deposit of Rs. 42 lacs during demonetization period as income. AO made another addition u/s 69A for same amount, treating it as unexplained money...

The assessment reopening u/s 147 read with Section 148 was found to be unsustainable due to the lack of independent application of mind by the Commissioner of Income Tax...

MAT computation - Book Profit - addition of interest on income tax refund to the Net Profit - As there is no dispute on the fact that assessee has offered interest on...

MAT is paid, additions were made to regular income, penalty not levied – 115JB, 271(1)(c)

The Income Tax Appellate Tribunal considered whether an assessee can claim deduction under Chapter VI-A of the Income Tax Act, 1961 for the first time in the return...

Quick Updates: