Assessee is an individual and purchase flat with Builder in FY 2017-18 On the basis of search conducted at Builder on 2018-19 and loose papers found with him as well as his acceptance in settlement Commission about receipt of ON money, assessee has received Notice U/sec 153C . Noting on Loose papers seized is Surname of Assessee and some calculation of amount and interest . It does not have any date or signature or the place. Can assessee raise the objection on issuance of Notice U/sec 153 C on following grounds: 1. It is dumb paper 2. There could be…
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is it possible to search query qua topics on this portal ?
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Dear Sir, If search is conducted in October 2022, can notice u/s 148 for A.Y. 2013-14 and 2014-15 can be issued as incriminating material for A.Y. 2013-14 and 2014-15 has been seized. Please clarify. Thanking You,
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Can AO issue notice u/s 153C after he realised that notice u/s 153A was invalid due to lack of search warrant on Assessee ?
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DURING THE COURSE OF SEARCH AT ASSESSEE'S PREMISE (LET SAY ABC PVT LTD BEING A JEWELLER), CERTAIN INFORMATION WAS EXTRACTED FROM COMPUTER/HARDISK SEIZED WHEREIN IT WAS MENTIONED IN EXCEL FILE - DETAILS OF OTHER PERSON (SAY XYZ), HIS ADDRESS, DATE OF CASH RECEIPT FROM XYZ FOR PURCHASE OF JEWELRY. IT WAS A EXCEL DOCUMENT AND DID NOT CONTAIN ANY SIGNATURE. 2. CONSIDERING THE ABOVE EXCEL FILE EXTRACTED AS INCRIMINATING MATERIAL PERTAINING TO OTHER PERSON (XYZ), ASSESSMENT PROCEEDINGS U/S 153(C) WERE UNDERTAKEN OF XYZ. XYZ HAD CLEARLY DENIED SUCH INFORMATION AND TAKEN STAND THAT HE HAS NOT PURCHASED ANY SUCH JEWELRY…
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Sirs, In the absence of any incriminating material during the course of search or any adverse statement recorded in the deposition, can there any be addition to the income which was assessed under section 143(3) of the Act? Also, please guide if there are any judgements of Supreme Court in this regard. Thanking You
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Panchanamma and other related documents like seizure, inventory in the name of the assessee. Is AO correct if he invokes 153C when separate oath statement has been taken at the time of search seeking all clarifications about records and documents found in the name of the assessee himself
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A search was conducted at various places of a group "G" thereafter, search was conducted in the case of persons who are connected or related with group "G". Search was conducted at the premises of Mr. X under the wrong presumption that Mr. X is connected/related with group "G". Mr. Y was similar named person of Mr. X. Actually, search was tobe conducted at the premisis of Mr. Y whereas it was wrongly conducted at the premises of Mr. X. During the search at the premises of Mr. X, not a sigle document / paper / valuable article or any…
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Whether ITAT can see the satisfaction note drawn before search . S. 132 , 254 ( 1)
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Assessment for A.Y 2012-13 was reopened by issuing notice U/S 148 on the allegation that the assessee has received Bogus commodity profit through banking channel and passed on cash as per statement of broker. The assessee had shown the profit on commodity and offered the same for taxation in the original return and also in the return filed in response to 148 notice. No deduction from the aforesaid income was claimed. Apart from various legal grounds of appeal one of the ground is , since the income has already been offered to taxation the addition of the same again on…
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Sec. 153C