PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
The ITAT addressed the issuance of notice under Section 153C, holding that the Assessing Officer's (AO) action for the other person shall be limited to six years from the date of receipt of seized material, irrespective of the original search date. The Supreme Court clarified that the date of receipt of seized material cannot be construed as the date of search, and requiring assessees to maintain records for extended periods is impractical. Consequently, the AO is competent to take action only for the six years preceding the receipt of seized material, rendering the search date irrelevant in determining the assessment period.
The ITAT addressed the issuance of notice under Section 153C, holding that the Assessing Officer's (AO) action for the other person shall be limited to six years from the date of receipt of seized material, irrespective of the original search date. The Supreme Court clarified that the date of receipt of seized material cannot be construed as the date of search, and requiring assessees to maintain records for extended periods is impractical. Consequently, the AO is competent to take action only for the six years preceding the receipt of seized material, rendering the search date irrelevant in determining the assessment period.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
