Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Assessment u/s 153C - Profit estimation on money received for new construction and redevelopment projects - extrapolation of income for the search period. The assessee contended that in the absence of any incriminating material seized from the premises, no addition could have been made u/s 153C for the assessment year under consideration. It was held that the Assessing Officer (AO) did not consider or hold the cash found as unexplained cash of the assessee, and it cannot be automatically subsumed in the addition related to 'on-money' without an express finding by the AO. The AO made an addition related to on-money based on material impounded during the survey and not under the search action. Therefore, no addition could have been made by the AO in assessments completed for the assessment years 2013-14 to 2016-17 invoking Section 153C/153A of the Act. Even if the cash found was considered undisclosed income for the assessment year 2017-18, no addition can be made for the assessment years 2013-14 to 2016-17. The additions made without any incriminating material found in the search were deleted, and the decision was in favor of the assessee. Regarding the validity of assessment proceedings u/s 153C/153A beyond the period of limitation and the selection of the initial assessment year.
Assessment u/s 153C - Profit estimation on money received for new construction and redevelopment projects - extrapolation of income for the search period. The assessee contended that in the absence of any incriminating material seized from the premises, no addition could have been made u/s 153C for the assessment year under consideration. It was held that the Assessing Officer (AO) did not consider or hold the cash found as unexplained cash of the assessee, and it cannot be automatically subsumed in the addition related to 'on-money' without an express finding by the AO. The AO made an addition related to on-money based on material impounded during the survey and not under the search action. Therefore, no addition could have been made by the AO in assessments completed for the assessment years 2013-14 to 2016-17 invoking Section 153C/153A of the Act. Even if the cash found was considered undisclosed income for the assessment year 2017-18, no addition can be made for the assessment years 2013-14 to 2016-17. The additions made without any incriminating material found in the search were deleted, and the decision was in favor of the assessee. Regarding the validity of assessment proceedings u/s 153C/153A beyond the period of limitation and the selection of the initial assessment year.
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