153A

• Since no incriminating material was unearthed by AO during the course of search ‎operation under section 132, therefore no addition could be made during the ‎relevant assessment year under section 153A. Mona Agarwal & Anr. v. ACIT

• the assessments which have already attained finality and does not get ‎abated, then they have to be assessed on the basis of the incriminating ‎material found during the course of search. The reason being that the ‎assessments which are pending and get abated, the entire income has to be ‎determined which includes material already on record and also the ‎material found as a result of search.‎ DCIT v. United Stock Exchange of India Ltd.

• For the purpose of carrying forward the loss in terms of section 72 read with ‎section 80 of the Act, in a case where search operations have been conducted ‎under section 132 of the Act, the time to file the return within the meaning of ‎section 139(3) of the Act has to be regarded as the reasonable time afforded by ‎the consequent notice under section 153A(1)(a) of the Act.‎

• When search operations are conducted under section 132 of the Act, the ‎obligation of the assessee to file any return remains suspended till such time that a ‎notice is issued for such purpose under section 153A(1)(a) of the Act. If the return ‎is filed by the assessee within the reasonable time permitted by such notice under ‎section 153A(1)(a) of the Act, such return would then be deemed to have been ‎filed within the time permitted under section 139(1) of the Act for the benefit ‎under section 139(3) of the Act to be availed of by the assessee.‎

• The consideration that the loss in any year may be carried forward to the ‎subsequent year and set off against the profits and gains in the subsequent year is ‎a question that has to be determined by the assessing officer who deals with the ‎assessment of the subsequent year.‎

• ट्रिब्यूनल के द्वारा सेट एसाइड ऑर्डर को डिपार्टमेंटल रिप्रेजेंटेटिव के द्वारा लिए गए फाइनेंसियल ईयर के अगले फाइनेंसियल ईयर में 31 दिसंबर तक ऑर्डर किया जा सकता है बाद में नहीं

• On July 30, 2018 The High Court of Bombay held that no addition can be made in the hand of Company for share capital if the shareholders ‎is having PAN And gave affidavit