Home Highlights April 2013 Year 2013 This

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1. Substitution of new section for section 153- Time limit for completion of assessment, reassessment and recomputation. - where an assessment is made on a partner of the...

2. Accrual of interest income in the hands of dissolved partnership firm - section 189 keeps the firm alive for the purposes of assessment despite its dissolution. It...

3. Validity of assessment u/s 153A - Non issuance of notice U/s 143(2) - Protective assessment - the assessment has been made on a protective basis, but, it is not clear...

4. Substitution of new section for section 153B- Time limit for completion of assessment under section 153A. - The limitation for completion of assessment under section...

5. Amendment of section 44AD. - computing profits and gains of business on presumptive basis - where an assessee declares profit for any previous year in accordance with...

6. Clarification in respect of appeal in regard to non-constitution of Appellate Tribunal - CGST - Circular

7. Validity of Assessment u/s 153A - in cases where the assessment or reassessment proceedings have already been completed and assessment orders have been passed, which...

8. Dishonor of Cheque - The actual offence should have been committed by the Company then alone the other categories of persons would become liable for the offences - in...

9. The concept of protective assessment also becomes important in a situation where the addition on substantive basis is deleted and in such an event, protective assessment...

10. Common partners in two firms – Set off of losses incurred by one firm from another - both the firms have separate channels, be it of constitution or maintenance of...

11. Assessment u/s 153A - addition made in respect of completed assessment in absence of any incriminating material - The tribunal found that the additions made to the...

12. Rectification u/s 154 - The Assessee argued that the assessments u/s 143(1) and 143(3) merged, precluding further additions u/s 154, while the Revenue contended that...

13. Assessment u/s 144B - National assessment scheme - as argued AO proposed to modify the return filed by the petitioner without issuing the mandatory show-cause notice...

14. Reopening of assessment u/s 147 - Writ jurisdiction of this Court under Article 226 of the Constitution of India or supervisory jurisdiction of this Court under Article...

15. Additions against Cash deposits made during demonetization period in specified bank notes - assessee has been consistently holding huge cash balance which meets the...