Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
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 is settled law that no addition can be made u/s 153A other than based on incriminating documents found during the search. Since no incriminating material was found during the search nor brought on record by the Assessing Officer, the issue is covered by the Supreme Court judgment in Abhisar Buildwell (P.) Ltd, and the addition made by the Assessing Officer is deleted in the absence of any incriminating material found during the course of search u/s 132. Validity of the assessment order passed by the Assessing Officer u/s 153A - Addition made u/s 69A on account of difference in returned income and income as per certificate issued. Section 153C is not invoked, and the assessment is framed u/s 153A. During the assessment u/s 153A, only the incriminating material found during the search of the assessee can be utilized, not the material found in the search of any other person. Therefore, the assessment proceedings must be initiated u/s 153C after satisfaction that the material found and seized during the search pertains to the appellant. The assessment order passed u/s 153A by the Assessing Officer is without jurisdiction and is quashed.
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 is settled law that no addition can be made u/s 153A other than based on incriminating documents found during the search. Since no incriminating material was found during the search nor brought on record by the Assessing Officer, the issue is covered by the Supreme Court judgment in Abhisar Buildwell (P.) Ltd, and the addition made by the Assessing Officer is deleted in the absence of any incriminating material found during the course of search u/s 132. Validity of the assessment order passed by the Assessing Officer u/s 153A - Addition made u/s 69A on account of difference in returned income and income as per certificate issued. Section 153C is not invoked, and the assessment is framed u/s 153A. During the assessment u/s 153A, only the incriminating material found during the search of the assessee can be utilized, not the material found in the search of any other person. Therefore, the assessment proceedings must be initiated u/s 153C after satisfaction that the material found and seized during the search pertains to the appellant. The assessment order passed u/s 153A by the Assessing Officer is without jurisdiction and is quashed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
