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section 56(2)(vii)(b) is not applicable on purchase of goods for sale. Section 56(2)(vii)(b) covers transactions value is less than than Rs. 50000 or more with Fair Market Value. These transactions occurs on or after first day of October, 2009 but before first day of April, 2017
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The notice issued u/s 148 in the name of the dead person is unenforceable in the eye of law.
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अगर 148 का नोटिस समुचित रूप से सर्व नहीं हुआ है तो रीएसेसमेंट की सारी कार्यवाही रद हो जाएगी मुंबई ट्रिब्यूनल ने फैसला देते हुए कहा है कि फ्लैट नंबर या ऑफिस का नंबर सही ढंग से नहीं लिखने के या कोई भी कारण भी अगर नोटिस सर्व नहीं हुआ है तो आगे की सारी कार्यवाही रद्द मानी जाएगी
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अगर आप अपने आयकर आयकर छापे के विवाद को निपटाने के लिए सेटलमेंट में एप्लीकेशन लगा रहे हैं तो निम्न बातों का ध्यान रखें नहीं तो आपकी एप्लीकेशन रद्द की जा सकती है
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No incriminating material was found during search that would have resulted in any addition in income returned by assessee. It was also an uncontroverted fact that assessment consequent to return of income filed u/s 139 for AY 2006-07 was completed. Thus, on date of search, no assessment was pending which could have abated. It was a case of non-abated assessment. No addition could be made in respect of assessments which became final if no incriminating material was found during search. CIT Vs. Murli Agro Products Ltd
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Since the assessee has shown more stock then physical stock found during search; therefore, no addition can be made on the basis of the undisclosed stock.
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show cause notice u/s 274 of the Act does not strike out the inappropriate words then that imposition of penalty cannot be sustained. Ratan Kumar Paul Vs DCIT
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If a decision is challenged before the first appellate authority both on the issue of validity of jurisdiction as well as merits of the case, the adjudication on validity of reopening can by no stretch of imagination be liable for rejection on the ground that the assessment has been decided in favour of the assessee on merits. If the order is not so kindly take the ground in the appeal / cross objection to higher authority so that the higher authorities will have the benefit of the decision on other points also, if the necessity arises as otherwise
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If any information belonging to an assessee found during course of search at another party and Ld AO initiated proceedings u/s 147/148 then the re-assessment proceedings passed u/s 148 shall not stand and assessment framed by AO is null and void as the correct course of initiation of proceedings is 153C and not u/s 147/148
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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.