If the search is prior to April 01, 2021, the assessment should be under section 153C of the Act. If the search is on or after April 01, 2021, issuance of Notice under section 148A(b) of the Act to a search-related case (where documents/evidence are found) is bad in law, as the Ld. AO should… (read more)

The Black Money Act, 2015 only applies to foreign assets and money deposited abroad. From your question, it doesn't appear that the provisions of the Black Money Act would be applicable. (read more)

In the case of Khyati Realtors 447 ITR 167 (SC) at para 22, the assessee's claim for deduction under section 37 of the act is not excluded. Therefore, if the assessee satisfies all the conditions of section 37(1) of the Act, the deduction ought to be allowed. (read more)

Yes the ratio may hold good . The assessee may have to demonstrate how the facts and wording of the section are identical In Prem Brothers Infrastructure LLP v. NFAC (2022) 288 Taxman 768 / 219 DTR 180 (Delhi)( HC) held that in absence of details as to which limb of section 270A was attracted… (read more)

Whether search is valid or not can be decided by the High Court by filing writ petition . Appellate Authority has jurisdiction to decide the validity of the search . Assuming the search is illegal evidence collected can be used against the assessee. Refer , Dr. Pratp Singh and Anr v. Director of Enforcement and… (read more)

The matter has to be referred to the DVO for the valuation of the property and the assessee is also at liberty to file a valuation report (read more)

Depends upon the terms of agreement . It can be contended that it being conditional gift the gift deed is valid . (read more)

In CIT v. Chotingrai Tea & Others (2002) 258 ITR 529 / (2003) 126 Taxman 399 / 179 CTR 103 (SC) the Court held that once it was found that the assessee had fulfilled all the conditions which had been laid down under section 35CCA of the Act for claiming deduction of the amount donated… (read more)

It is advisable to purchase the property in your own name with the second of your daughter to avoid any unpleasant scenarios. (read more)

The agreement would have to be analysed to come to a conclusion that the possession is not transferred to the builder. The said non-compliance by the builder would have to be demonstrated before the judicial authorities to establish there was no transfer. (read more)