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2 results for “capital gains”+ Section 153Cclear

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Key Topics

Section 260A3Section 1323Section 153A2Addition to Income2

The Commissioner of Income Tax-III vs. Sri Anand Prakash Sanghi

ITTA/33/2010HC Telangana21 Mar 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

For Appellant: M/S.HARBOUR VIEWFor Respondent: THE COMMISSIONER OF INCOME TAX
Section 132Section 143(2)Section 153ASection 153CSection 2(47)(v)Section 260ASection 269USection 53A

153C of the Act on 5.8.2004. The assessee filed a return on 27.12.2004 declaring 'nil' income, consequent to which notice was issued under Section 143(2) and assessment completed making an addition of Rs.1,87,00,000/- as being concealed income under 'short-term capital gain

Principal Commissioner of Income Tax vs. Sri Nama Nageshwar Rao

ITTA/23/2021HC Telangana09 Oct 2023

Bench: P.SAM KOSHY,LAXMI NARAYANA ALISHETTY

Section 132Section 132(4)Section 153ASection 260A

capital gain on the ground that the evidences found during search at the premises of entry provider cannot be the basis for making additions in assessment completed u/S. 153A in the case of beneficiary ignoring the vital fact that there was a common search u/s 132 conducted on the same day in both the cases of the entry provider