Ans .1.Claim for partition can be made by Karta and co-parcenors and not mere members of the HUF. Where members are receiving property in a partition it is advisable to have their signatures as well. 2.Under Hindu law Daughter is a co parcener where as Daughter in law is only member of HUF, if Partition… (read more)

Under Hindu Law, there can be a HUF within a HUF. Hence total partition of smaller HUF will be valid if the property of smaller HUF is divided by metes and bounds. As per section 171 (1) A Hindu family heitherto assessed as undivided shall be deemed for the purposes of this Act to be… (read more)

It would be pertinent to note the day on which the DIN is conveyed to the assessee. If there is a delay of more than a day, the assessee may file a Writ Petition before the Hon’ble High Court to quash the same. The Central Board of Direct taxes (CBDT) vide Circular No. 19 of… (read more)

In M. Vishwanathan . v. CCIT ( 2020) 116 taxmann.com 894/ 274 Taxman 411 ( Ker) (HC) allowing the appeal of the assessee the Court held that compensation received from Corporation of Kochi for acquisition of non -Agricultural land is held to be not taxable . Referred circular No . 36/2016 dt 25 -10 -2016… (read more)

We presume that the property was sold in the month of August 2020 year ending 31 -3 -2021 and the assessee died in the month of March 2021 . Sections 159 160 and 161 of the Income -tax Act 1961 deals with provisions relating to assessment of Legal Representative. The legal heirs has to file… (read more)

The Ld. AO having charge over the jurisdiction can issue a Notice under section 148 of the Income-tax Act, 1961.The Ld. AO having charge over the jurisdiction can issue a Notice under section 148 of the Income-tax Act, 1961. (read more)

It needs to be checked in which financial year the return for FY 2019-20 is filed. With effect from AY 2021-22, Notice under section 143(2) of the Act can be issued within 3 months from the end of the Financial Year in which the return is filed. (read more)

As per the provision of the Act there is no bar for reopening the assessment more than once. However the revenue has to satisfy the conditions prescribed as per the provisions of the Act . In New Delhi Television Ltd v .DCIT ( 2020) 424 ITR 607 (SC) , the court as an obiter observed… (read more)

When the notice for reassessment is received, it is always desirable to file the return signed by the assessee who is authorised to sign the return u/s 140 of the Income-tax Act, 1961. Many a times it has been observed that the tax consultants file the letter with their letter head stating that, the return… (read more)