Search conducted from unknown party, excel sheet found and some data found in that excel sheet regarding my property. AO can make addition on that basis
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In the present case for AY 2016-17, notice u/s 148 dt. 31/3/21 received through email on 1/4/21. Reassessment order dt. 31/3/22 passed appeal filed before CIT (A) on 9/4/22. Again notice u/s 148A(b) issued on 2/6/22 (stated as issued, as per the direction of SC decision in the case of Ashish Agarwal) along with the information and material (12 pages missing/3 pages not legible) relied upon for such reopening. The above information is received by the AO from the INSIGHT PORTAL, as flagged by the system as HIGH RISK CRIU/VRU. Now the AO has issued order u/s 148A(d) & notice…
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I got Summon notice From income tax department under section 131(1A) by india post but i search income tax website but notice not showing Genuine
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Assessee is an individual. during the course of search with his brother and his companies on Aug.2013 following documents were found . a. Cash deposit slip about deposit of cash 1050000/- by the said co. b. Gift deed for gift of shares in Pvt. limited co by the assessee to his father. and other relatives were found. on the basis of these documents Notice U/Sec.153C was issued in jan 2016 for A.Y. 2008-09 to 2013-14. while recording the satisfaction the AO has stated that from verification of seized documents it reveals that assessee has certain undisclosed income for the A.Y.…
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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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In case of search conducted after 01.04.2021, whether procedure prescribed u/s 148A is to be followed for the preceding 10 A.Y from the end of the previous year in which search took place. Whether assessee can ask for the reasons for re-opening and copy of approval of the prescribed authority? Whether assessee can the notice on the ground that before issuing notices u/s 148A, AO must fulfil the condition as prescribed in section 149(1)(b) of the Act?
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Assessee is AOP engaged in the business of construction and developing of housing project . Assessee is consistently following project completion method for recognizing revenue . In this method , the assessee is offering the Revenue when the possession of the unit is givne to buyer after obtaining completion certificate. During the course of search action nothing incriminating documents have been found . The Assessing Officer during the course of search recorded the statement of member of AOp and asked details of the project and about advances received from unit purchasers. On the basis of the details question was asked…
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Assessee is company. Consequent to search proceedings U/SEc. 132 of the Act in the Year 2015-16, assessee co filed the Returns of income in response in response to Notice U/SEc. 153A for A.Y. 2010-11 to 2016-17. Assessment U/SEc. 153A r.w.s. 143(3) were completed on 28.12.2017 as per the income disclosed in the Return as no incriminating material was found. Thereafter Audit objection was received by the assessee co for A.Y. 2013-14, where the diffrence in sale as per assessment order and audit report under MVAT act was pointed out. The department has issued Notice U/Sec. 154 on 22.05.2018, to which…
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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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Assessee is an Individual engaged in the retail business and disclosing his income u/SEc. 44AD of the Income tax. Assessee has made the booking of flat with builder. On the basis of some noting on the loose paper found during the course of search with the builder and on the basis of his statement U/Sec. 132(4) about acceptance of On Money from flat holders, Notice U/Sec. 153C was served. Assessee filed returns for 6 A.Y. and asked for the copies of seized papers, statement of builder and opportunity of cross examination. However the opportunity of cross examination the builder does…
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Addition made on the basis of Excel Sheet