Articles by CA.Mohit Gupta
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Assessment of incriminating material found during Income Tax Search u/s 153A
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.
Post Income Tax Search and Seizure findings of incriminating material and undisclosed income
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.
New Regime of Income Tax Search and Seizure Assessments - Glaring Implications
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.
Importance of Statement u/s 132(4) of the IT Act 1961, Retraction thereof
Section 132(4) of the act has been put in place by the legislature consciously so as to enable the authorized officer to collect such evidence by recording statements during the course of the search.
Understanding the gamut of Dumb Documents unearthed in an IT Search and Seizure Action
Non-speaking seized documents are referred to as 'Dumb Documents'. In this article, we will discuss the gamut of Dumb Documents unearthed in an IT Search and Seizure Action.
Search and Seizure under Income Tax
Whether an Income Tax survey proceedings u/s 133A of the Income Tax Act’1961 can be converted into an Income Tax Search and Seizure action u/s 132 of the Income Tax Act ‘1961
Finance Bill 2021 | Paradigm shift in the provisions relating to IT Search and Seizure Assessments and IT Settlement Commission
In, significant changes to the taxation process, among other tax measures, the FM recommended a paradigm change to the provisions relating to “Assessment in case of search or requisition viz. Section 153A to 153D” and Income Tax Settlement Commission.
Seizure of undisclosed jewellery and its assessment thereupon- Legal Treatise
CBDT has clarified that no seizure should be made by the Search Party of the Jewellery and Ornaments found during the course of search proceedings under Section 132 of the IT Act,1961, where the same have been duly declared in the Wealth-tax returns.
An Interplay - Income Tax Search and Seizure and Income Tax Settlement Commission
Chapter XIX-A of the Act pertains to the settlement of cases. Under sub-section (1) of section 245C of the Act, an assessee at any stage of a case relating to him can make an application for settlement in the prescribed manner.
Bar on Subsequent Application to Income Tax Settlement Commission
Bar on Subsequent Application to Income Tax Settlement Commission: Conflict between Legislative Intention and Judicial View
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