Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
Post-search scrutiny assessment remains available where original assessment limitation is unexpired, permitting timely completion under regular assess...
Validity of assessment u/s 153A regarding unexplained cash credits u/s 68, absence of incriminating material found during search proceedings, and lack of valid approval u/s 153D. The key points are: the assessment proceedings were unabated when the search was conducted; no incriminating material pertaining to the assessment year was found during the search to justify additions u/s 68; statements recorded before or after the search cannot be considered incriminating material; mere observation about investors' financials cannot constitute incriminating material; in the absence of incriminating material, additions cannot be made for unabated assessments; the Assessing Officer continued assessment proceedings and modified the draft order after forwarding it for approval u/s 153D, resulting in material variance from the approved draft order; the final order was passed without valid approval as required u/s 153D, rendering it unsustainable.
Validity of assessment u/s 153A regarding unexplained cash credits u/s 68, absence of incriminating material found during search proceedings, and lack of valid approval u/s 153D. The key points are: the assessment proceedings were unabated when the search was conducted; no incriminating material pertaining to the assessment year was found during the search to justify additions u/s 68; statements recorded before or after the search cannot be considered incriminating material; mere observation about investors' financials cannot constitute incriminating material; in the absence of incriminating material, additions cannot be made for unabated assessments; the Assessing Officer continued assessment proceedings and modified the draft order after forwarding it for approval u/s 153D, resulting in material variance from the approved draft order; the final order was passed without valid approval as required u/s 153D, rendering it unsustainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
