Anti-profiteering obligations survive business demerger, complaint withdrawal, and customized supply arrangements where rate-reduction benefits are no...
Road restoration charges constitute taxable services when requested for commercial pipeline activity, requiring reverse-charge GST from the business r...
Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
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 
TaxTMI 
of 4916 
