Articles by CA.Mohit Gupta

Retrospective applicability of Sec 153C "2015 amendment" as held by Supreme Court

CA.Mohit Gupta 02 May 2023 at 09:35

The Supreme Court held that the amendment brought to Section 153C of the Income Tax Act 1961 by the Finance Act 2015 will retrospectively apply to searches conducted prior to the date of the amendment, i.e., 01.06.2015.

Union Budget 2023-24: Proposed Changes relating to Income Tax Search and Seizure Provisions

CA.Mohit Gupta 02 February 2023 at 15:43

In the Union Budget 2023-24 through Finance Bill 2023, among other tax measures, the Hon'ble Finance Minister recommended significant though few changes relating to Income Tax Search and Seizure provisions

Accused cannot be compelled to give password of an electronic device during investigation proceedings

CA.Mohit Gupta 05 November 2022 at 15:29

The court held that the accused cannot be compelled to give such information and in this regard he is protected by Article 20(3) of the Constitution of India as well as Section 161(2) of Cr.P.C.

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".

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

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.

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

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

Legality of roping in an unconnected third party in the rigors of an Income Tax Search and Seizure action

CA.Mohit Gupta 10 December 2021 at 19:46

Bank Lockers- Income Tax Search and Seizure

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.