Parking charges are paid for acquiring for allotment of parking place ,it is a cost attached to the flat hence to be added as cost of acquisition. However the generator charges is not for acquiring the flat hence may not be allowed as cost of acquisition . (read more)

One has to study the agreement entered with the builder and clauses in the agreement . If the Developer levy charges contrary to the agreement , the assessee can file an complaint before consumer Forum . (read more)

The ITAT has no power to condone the delay in filing the miscellaneous application. Refer , Malwinder Singh v.UOI (2005) 278 ITR 568 (P&H)(HC) . For calculating the period of six months the date of receipt of the order to be considered . Refer , Anil Kumar Nevatia v. ITO (2021)434 ITR 261/ 203 DTR… (read more)

There is no specific carve under section 194Q of the Income-tax Act, 1961 (Act) out for assessees registered under section 12A of the Act. Further, non-deduction of tax at source would trigger the explanation to section 13(10) of the Act. (read more)