| COURT: | ITAT Bangalore |
| CORAM: | Jason P. Boaz (AM), Rajpal Yadav (JM) |
| SECTION(S): | 153A, 234B, 234C, 32 |
| GENRE: | Domestic Tax |
| CATCH WORDS: | advance tax, Depreciation, Interest, Search assessment |
| COUNSEL: | Babu Prasad |
| DATE: | December 5, 2014 (Date of pronouncement) |
| DATE: | December 8, 2014 (Date of publication) |
| AY: | 2008-09 to 2010-11 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| (i) S. 153A: Even in non-pending assessments where no incriminating material is found, AO is not limited to assessing “undisclosed” income, (ii) revenue expenditure on leased premises is not hit by sub-section (1A) to s. 32 or Explanation 1 to s. 32, (iii) Even income voluntarily disclosed in search is liable for 2. 234B/C interest | |
(i) The circumstance where proceedings are not pending and no incriminating material is found in the course of search has been left unanswered by the Delhi High Court in Anil Kumar Bhatia 352 ITR 493 (Del). In this case, the …
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