Levy of interest - assessee has neither offered seized cash ...

Income Tax

May 12, 2020

Levy of interest - assessee has neither offered seized cash during his statement u/s 132(4) nor he intimated to the Department by letter that his seized cash should be adjusted towards his advance tax/tax liability - Demand confirmed.

View Source

← Previous Next →

Levy of interest - assessee has neither offered seized cash ...

Income Tax

May 12, 2020

You may also like:

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...

Entitlement to deduction u/s.80IB(10) - additional receipts / income offered by the assessee against the project undertaken by the assessee u/s 132(4) - additional...

Statement recorded u/s 133A (3)(iii) is different than the statement recorded during search and seizure u/s 132(4), both have different evidentiary value

Addition based on statements recorded u/s. 132(4) - Effect of retraction of statements recorded u/s. 132(4) of the Act - Taxation of capitation fee alleged to have been...

Income from other sources or Business income - Search u/s 132(4) - cash was found from the residential and business premises of the assessee - held as business income - AT

Levy of penalty u/s 271AAB - assessee has inflated his agricultural income, which would have been otherwise offered under any other head of income - any disclosures made...

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...

Addition merely on the basis of statement u/s. 132(4) - unaccounted income - additions sustaianed - HC

Treatment of the currency seized during the search and seizure operations conducted u/s 132 - Adjustment with advance tax liability - levy of interest u/s 234C - at the...

Search u/s 132 - Entitlement refund of the seized cash which is otherwise declared ‘unaccounted money’ and taxed in the hands of the searched person - This Court does...

Quick Updates: