The assessee has to verify what is the date of the notice . In case the notice is dated after 1, -4 -2021 the Assessing officer has to follow the law as mandated under section 148A of the Act . .ie. Conducting inquiry , providing opportunity before issue of notice under section 148 of the… (read more)

The principle enshrined by various judicial precedents pertaining to not striking off the irrelevant part is that the reasons for which a proceeding is initiated against an assessee should be rightfully communicated to them. (Mohd. Farhan A. Shaikh v. ACIT ( 2021 )434 ITR 1/ 125 Taxmann.com 253 ( FB ) Bom) (HC) www.itatonline.org )… (read more)

On the facts the AO has issued 148 notice for reopening of assessment beyond the 4 years from the end of relevant assessment year . One has to verify whether proper sanction was obtained or not and also whether the Commissioner while granting sanction has applied his mind . On the facts in the year… (read more)

It depends on the facts of the case . In P.N .Krishana Iyer v.CIT ( 1969 ) 73 ITR 539 ( SC) the Honourable Court held that income received by a member of a HUF from a firm or company in which the funds of HUF are invested , even though the income may be… (read more)

In Chandrawati Gupta v. ACIT (2017) 51 CCH 177 (Delhi)(Trib.) held that the assessee had disclosed reasonable cause for failure to comply with statutory notice and on same reasoning, CIT(A) should cancel penalty levied on assessee. In Heman Kumar Soni. v. Dy. CIT (2017) 49 CCH 350 (Indore)(Trib.) held that, No penalty can be levied… (read more)

Firstly, Citizenship is not a test of residency. Secondly, considering the fact that he has been in India for the past several years, it is assumed that he is an Indian Resident as per section 6 of the Income-tax Act, 1961. Therefore, his global income will be taxable in India. He should disclose his foreign… (read more)

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)