The action of the Assessing Officer is not justified . Even while passing the order under section 144 of the Act the Assessing Officer to pass the order considering past records . The order cannot be arbitrary . In DCIT v. Bridge & Building Construction Co. (P.) Ltd (2022) 94 ITR 515 ( Kol)( Trib)… (read more)

: According to the reliable information about 45000 appeals before ITAT and about 6 lakhs appeals before the Commissioner (Appals ). If you desires to know the exact figures , you may make an application under RTI Act . (read more)

The Buyer cannot deduct tax under section 194H of the Act on the whole amount of Rs. 1,02,100/-. Deduction under section 194H of the Act should be restricted to commission and deduction under section 194Q of the Act should be on the Sale price. (read more)

Yes the assessee can submit once again the document with attachment . (read more)

Reference may be drawn on the CBDT Circular No. 560, dated May 18, 1990 [1990] 184 ITR St. 1 wherein it was clarified that for purposes of qualifying for a deduction under section 54E of the Act, the date of transfer is the date on which the capital asset is converted by the assessee into… (read more)

The ratio cannot be applicable to other assesses. (read more)

It is desirable to file an appeal as well as rectification application. If rectification application is allowed , the appeal may be withdrawn . (read more)

Penalty proceeding for violation of section 269SS of the Income Tax Act, 1961 has to be initiated by the assessing officer in the assessment order. Any initiation done after the assessment order is bad in law and not sustainable. The Hon’ble Supreme court in the case CIT v. Jai Laxmi Rice Mills Ambala City (2015)… (read more)

It is a well-settled position in law that the date of registration relates back to the date of the execution of the agreement. This has been upheld by the Hon'ble Supreme Court in the case of Gurbax Singh v. Kartar Singh and Others 254 ITR 112 (SC). However, the details of registration will be forwarded… (read more)