Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
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.
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