Search was condected in June ,2018.Assessment framed u/s 153 for the A.Y. 2013-14 to 2018-19 and 143(3) for the A.Y.2019-20. In first appeal CIT(A) has given some relief. Assessee filed appeal before the ITAT for the A.Y. 2019-20,2018-19 and 2017-18. The Hon'ble Tribunal declared the search as illegal and unjusified. What will be position for A.Y. 2013-14, 2014-15, 2015-16 and 2017-18. In these Assessment Years assessee has not filed appeal to the ITAT. Whether these assessments u/s 153A will be treated as quashed. Kindly clear the legal position.
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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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During the course of search jewellery weighing 5646.800 gms was found which was of Gold and also some dimonds. Family of assessee consist of 18 members which includes 10 married ladies , 5 individual, 3 unmarried daughter and one adult son. Assessee submitted that considering CBDT circular about seizing of jewellery, no jewellery is to be seized , however still Investigating Officer has seized 1646 gms on the ground that all the family members are though living in same building but are having separate kitchen hence all jewellery could be considered as explained. During assesssment proceedings have once again asked…
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Assessee has challenged validity of the impugned section 153C proceedings for want of a proper satisfaction. Assessing Officer appears to have initiated the impugned section 153C proceedings in light of his satisfaction note prepared on 13.01.2016 that the corresponding seized material in fact “pertains to” the assessee during the course of search with xyz and thus had a “bearing” on its undisclosed income. ITAT has passed the order in favour of the assessee by relying upon the decision in Income Tax Appeal No.83/2014 CIT vs. M/s. Arpit Land Pvt. Ltd., dated 07.02.2017 has decided the very issue of validity of…
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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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Assessee is an individual and regular in filling his return of income. Assessee has received the Notice U/Sec.153C for A.Y. 2019-20 and preceding 6 years on the basis of noting on the seized papers found during the course of search with the Developer from whom assessee has purchased the flat and statement given by the CFO of the developer U/SEc.132(4) of the Act that noting on seized paper is cash component in the transaction of purchase of flat and assessee has also accepted that said amount as on Money in the application made before the settlement commission and therefore the…
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Assessee is pvt limited co engaged in business of manufacturing of engaged goods. Had supplied to a customer X . Search u/Sec. 132 carried out at X . During search digital in form of excel sheet was found n seized. On the basis of certain noting , CFO of X has agreed n given statement that X has pratice of recording 30% of material purchase from supplier in cash and not recorded in the books. On the basis of this admission CFo also stated that from assessee co X had effected transcation in cash of Rs. 3.5 Cr which is…
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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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Assessee is private limited co and engaged in business of manufacturing of spare parts of vehicles etc. Search U/Sec. 132 has conducted on the ground that assesssee has effected the purchases from the parties which are only providing accomodation bills and there GST numbers were cancelled subsequently due their involvement in issuing fake invoices. During the course of assessement proceedings assessee submits that it purchases are genuine and duly supported by all evidences such as invoice, material inwards note, payments by banking channel, transport receipts. When the asssessee effected purchases the supplier GST number was valid and same was also…
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before amendment in 2020, 2 sections , notices u/s 153C and 148 had been issued without proper jurisdiction. whether issue of one in the place of other makes order of asst void or liable to curable defect?
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Section 153 post search assessment