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remand report |
Subject: |
remand report
|
Category: |
Income-Tax |
Asked by: |
bs |
Answered by: |
Advocate Neelam Jadhav
|
Tags: |
appeal by Revenue, Remand report |
Date: |
January 3, 2023 |
Excerpt of answer: |
In ACIT v. Nalgonda Dicocese Society ( 2021) 92 ITR 22 ( SN) (Hyd ) ( Trib) Held that in the remand report the Assessing Officer gave a finding that there is no violation of provisions. The Tribunal held that the department could not be held an aggrieved party where the Assessing Officer files a… (read more)
|
54/54F |
Subject: |
54/54F
|
Category: |
Income-Tax |
Asked by: |
bs |
Answered by: |
Advocate Shashi Ashok Bekal
|
Tags: |
adjoining flats, Capital Gains, Section 54F deduction |
Date: |
January 2, 2023 |
Excerpt of answer: |
As we understand, the last amendment to section 54 of the Income-tax Act, 1961(Act) was vide Finance Act, 2019. The said amendment should not have an effect in the interpretation of section 54(1) of the Act. As per judicial pronouncements, two adjacent flats with common entrance and kitchen have been held to be one single… (read more)
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Non Genuine Purchases |
Subject: |
Non Genuine Purchases
|
Category: |
Income-Tax |
Asked by: |
manali |
Answered by: |
Reply of the Expert is awaited;
|
Tags: |
Bogus Purchases |
Date: |
January 2, 2023 |
Excerpt of answer: |
Reply of the Expert is awaited. Please check back later
|
Exemption of capital gain u/s.54F |
Subject: |
Exemption of capital gain u/s.54F
|
Category: |
Income-Tax |
Asked by: |
Vikas Shah |
Answered by: |
Advocate Shashi Ashok Bekal
|
Tags: |
54F, capital gain |
Date: |
December 29, 2022 |
Excerpt of answer: |
As we understand, the assessee has a plot of land and an old residential property. Similarly, the assessee's daughter in law also has a plot of land. Both will sell their plot of lands and invest in a new residential house property (i.e., demolishing the old residential property and constructing a new one). Both will… (read more)
|
ARRANGEMENT OF PARTNERS IN LLP |
Subject: |
ARRANGEMENT OF PARTNERS IN LLP
|
Category: |
Income-Tax |
Asked by: |
Manoj jain |
Answered by: |
1882. Therefore, Advocate Shashi Ashok Bekal, as long as the objects are legal and there is a mutual understanding amongst the partners, such an arrangement is possible. AMT is on the basis of total computation of income of all consolidated projects and is not computed project wise., the Partnerships are fundamentally on the basis of Indian Contract Act, Yes
|
Tags: |
Arrangement of partners, Limited liability partnership |
Date: |
December 27, 2022 |
Excerpt of answer: |
Yes, the Partnerships are fundamentally on the basis of Indian Contract Act, 1882. Therefore, as long as the objects are legal and there is a mutual understanding amongst the partners, such an arrangement is possible. AMT is on the basis of total computation of income of all consolidated projects and is not computed project wise. (read more)
|
form 10IC |
Subject: |
form 10IC
|
Category: |
Income-Tax |
Asked by: |
seetharaman |
Answered by: |
Advocate Shashi Ashok Bekal
|
Tags: |
Concessional rate, form 10IC |
Date: |
December 27, 2022 |
Excerpt of answer: |
As we understand, the assessee could not file Form 10-IC on or before the due date. The said Form is a mandatory requirement for claiming the benefit of a lower rate of tax. Kindly refer to the decision of the Hon'ble ITAT Mumbai Bench in the case of Suminter India Organics Private Limited v. DCIT… (read more)
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SEARCH ASSESSMENT |
Subject: |
SEARCH ASSESSMENT
|
Category: |
Income-Tax |
Asked by: |
Manali |
Answered by: |
Reply of the Expert is awaited;
|
Tags: |
search assessment |
Date: |
December 27, 2022 |
Excerpt of answer: |
Reply of the Expert is awaited. Please check back later
|