1. ANIL KUMANR BHATIA AND SANJAY BHATIA (ORDER DATE: 1/JAN/2010)

HELD FOR MAKING ADDITION IN SEARCH ASSESSMENTS U/S 153A - SEARCH MATERIAL VIS A VIS ADDITION IS MUST (EVEN IN CASES OF PROCESSING U/S 143(1) MERELY ON ISSUANCE OF NOTICE U/S 153A BY CONDUCT OF SEARCH : NO DENOVO ASSESSMENT IS POSSIBLE- CORRESPONDING MATERIAL IS MUST).

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2. CHETAN DASS LAXMAN DASS: (ORDER 20/11/2009)

HELD FOR MAKING ADDITION ON ACCOUNT OF SUPPRESSED SALES/PRODUCTION ETC IT IS SINE QUA NON THAT CORRESPONDING UNACCOUNTED ASSETS (TO ALLEGED UNACCOUNTED SALES) AND TANGIBLE MATERIAL IN THE FORM OF PURCHASER'S STATEMENT ETC ARE BROUGHT ON RECORD AND NO ADDITION MERELY ON BASIS OF A PAPER RECORDING TWO RATES BEFORE BUYER'S NAME ETC - IS POSSIBLE (SECTION 153A).

   

FURTHER ACCEPTING AR'S CONTENTION HELD THAT FOR ASSESSMENT U/S 153A: MERE ISSUANCE OF WARRANT IS NOT SUFFICIENT AND BOTH THE CONDITIONS OF INITIATION OF SEARCH AND CONDUCT OF SEARCH ARE TO BE COMPLIED FOR ASSUMING JURISDICTION U/S 153A.

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3. DEEPA BHATIA (ORDER DATE: 11/12/2009)

HELD FOR ISSUANCE OF NOTICE U/S 153C : RECORDING OF SATISFACTION BY SEARCHED PERSON AO AND ITS COMMUNICATION TO ASSESSEE (THIRD PARTY) IS MUST ON LINES OF SC RULING IN MANISH MAHESHWARI 289 ITR 341 IN FACTS OF THE CASE: HELD CONDITIONS COMPLIED BY AO; FURTHER DOCUMENTS PERTAINING TO THIRD PARTY MUST BE FOUND FROM SEARCHED PERSON.

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4. VEENA BHATIA (ORDER DATE: 11/12/2009)

HELD FOR SECTION 153A : WARRANT IN NAME OF ASSESSEE IS MUST ON LINES OF DHC RULING IN 289 ITR 328 PUSHPA RAI ETC.

  

FURTHER HELD IF GIFT IS RECD FROM RELATIVE: REVENUE CANNOT ASK ASSESSEE TO SATISFY RIGOURS OF SECTION 68 (CREDITWORTHINESS AND GENUINENESS ETC).

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5. DEEPA BHATIA (ORDER 20/11/2009) 

HELD: FOR ADDITION ON ACCOUNT OF LOW PERSONAL DRAWINGS IN 153A SEARCH ASSESSMENT : WITHOUT EVIDENCE NO ADDITION IS POSSIBLE. 

  

HELD: FOR HOUSING LOAN DEDUCTION U/S 24(b): MERELY BECAUSE ASSESSEE IS FOUND AT OTHER PREMISES AT SEARCH TIME: NO ADVERSE INFERENCE FOR NON SELF OCCUPIED CAN BE DRAWN.

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"Voice of CA"

CA. Sanjay Kumar Agarwal, Founder - Voice of CA

(Former Chairman - NIRC)

Mob : 9811080342, agarwal.s.ca@gmail.com

CA. Kapil Goel, Moderator-Direct Taxes, Mob:9910272806, cakapilgoel@gmail.com

CA. Sidharth Jain, Co-Moderator, sidhjasso@yahoo.com

CA. Mukesh K Bansal, Co-Moderator-FEMA, mkak@rediffmail.com