Settlement application eligibility requires a pending assessment when filed, preventing an extra prior-eligibility condition from blocking considerati...
Reassessment for unreturned property sales survives where transfer information, non-filing, and unsupported exemption claims establish a prima facie l...
Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial a...
For a non-searched person, the block period for assessment under section 153C is computed from the date seized material is handed over to, or satisfaction is recorded by, the Assessing Officer having jurisdiction over that person, rather than from the search date. Applying that rule, the relevant assessment years fell outside the permissible period, making the assessments time-barred and depriving the Assessing Officer of valid jurisdiction. ITAT upheld the relief granted to the non-searched person and dismissed the Revenue's appeals, following Supreme Court and High Court precedent.
For a non-searched person, the block period for assessment under section 153C is computed from the date seized material is handed over to, or satisfaction is recorded by, the Assessing Officer having jurisdiction over that person, rather than from the search date. Applying that rule, the relevant assessment years fell outside the permissible period, making the assessments time-barred and depriving the Assessing Officer of valid jurisdiction. ITAT upheld the relief granted to the non-searched person and dismissed the Revenue's appeals, following Supreme Court and High Court precedent.
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TaxTMI 
TaxTMI 
of 4894 
