Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Articles by CA.Mohit Gupta

avatarView Full Profile

Insertion of Section 79A - Plugging of lacuna by the Finance Bill 2022

  CA.Mohit Gupta    21 March 2022 at 09:03

In the Union Budget 2022-23 through Finance Bill 2022, among other tax measures, the Hon'ble Finance Minister recommended "Insertion of New Section 79A: No set-off of losses consequent to search, requisition and survey".

Continue Reading »
Posted in Income Tax |   9735 Views


Union Budget 2022-23: Proposed Changes relating to Income Tax Search and Seizure Provisions

  CA.Mohit Gupta    10 February 2022 at 09:03

In the Union Budget 2022-23 through Finance Bill 2022, among other tax measures, the Hon'ble Finance Minister recommended significant changes relating to Income Tax Search and Seizure provisions, as mentioned in this article

Continue Reading »
Posted in Union Budget  1 comments |   2436 Views


Declaration of undisclosed income to "buy peace" does not renders an assessee immunity from initiation and levy of penalty

  CA.Mohit Gupta    30 January 2022 at 10:30

Under the Income Tax Act, 1961 penalty is to be levied on the amount of "tax sought to be evaded" in respect of the concealment of particulars of income or furnishing inaccurate particulars of the income. Nevertheless, in case of SEARCH penalty is also levied in respect of "Undisclosed Income" too.

Continue Reading »
Posted in Income Tax |   1647 Views


Income Tax Search and Seizure: Right of the assessee to cross-examine

  CA.Mohit Gupta    09 January 2022 at 08:53

The principles of natural justice forms an integral part of procedural fairness and justness, thereby excluding the scope of arbitrariness. Even though the right of hearing, which forms a part of the principles of natural justice, before an order is passed under some of the provisions of the Income-tax Act 1961

Continue Reading »
Posted in Income Tax |   3213 Views


Controversy in computing the period of limitation to frame search assessments

  CA.Mohit Gupta    30 December 2021 at 09:03

The period of limitation for completion of assessment u/s 153A of the Income Tax Act'1961 for the searches conducted on or before 31st Day of March'2021 is governed by the provisions of Section 153B of the act. Even though Section 153A of the Income Tax Act'1961

Continue Reading »
Posted in Income Tax |   2052 Views


Posted in Income Tax |   3507 Views


Assessment of incriminating material found during Income Tax Search u/s 153A

  CA.Mohit Gupta    28 November 2021 at 18:12

Section 153A provides the procedure for completion of assessment in case of a person where a search is initiated under Section 132 or books of account or other documents or any assets are requisitioned under Section 132A after 31st May, 2003 but on or before the 31st Day of March'2021.

Continue Reading »
Posted in Income Tax |   936 Views


Post Income Tax Search and Seizure findings of incriminating material and undisclosed income

  CA.Mohit Gupta    10 November 2021 at 10:08

A vital question arises at this juncture and is also a matter of prolonged litigation as to whether the reasons to believe can come into existence after the issuance of a warrant of authorization.

Continue Reading »
Posted in Income Tax |   1146 Views


Income Tax Search and Seizure: Irregularity versus an illegal Income Tax Search- Analysis

  CA.Mohit Gupta    22 September 2021 at 09:32

Rule 112 of the Income Tax Rules'1962 lays down the procedure, forms of authorization, manner and other procedural effects of carrying out search and seizure action as enumerated u/s 132 of the act.

Continue Reading »
Posted in Income Tax |   1467 Views


New Regime of Income Tax Search and Seizure Assessments - Glaring Implications

  CA.Mohit Gupta    02 July 2021 at 09:07

Highlighting the significant changes brought in by the virtue of the Finance Act 2021 in context to the Income Tax assessments to be made in pursuance to an Income Tax Search and Seizure Action conducted u/s 132.

Continue Reading »
Posted in Income Tax |   1671 Views




Popular Articles




GT ACCA caclubindia books caclubindia books Book


CCI Articles

submit article

Stay updated with latest Articles!






´╗┐