deptt/ revenue could not bring even a single piece of evidence on record that assessee has recd more than rs 2/lakhs from a particular person during a particlar assessment. nor the assessment proceeding took place for thatAY.assessee directly recd notice u/s 274 r.w.s 271DA and imposed penalty u/s 271DA.whether ao can imposed as he did not have any evidence, secondly as no assessment took place for that assessment year, penalty can be imposed in the absence of assessment being made.
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Approval u/s. 151 was granted to re-opening of assessment without fixing physical or digital signature to the order u/s. 151 of the Income Tax Act. Whether this makes the re-assessment proceeding invalid?
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There is a mention of "further report prescribed under the Act" in the 3rd proviso to Section 44 AB. How does form 3CD relate to this "further report" especially when this form relates to "Statement of particulars"? Can it be construed that "further report prescribed under the Act" and "Statement of particulars". Another doubt is that according to Finance Act 1984 by which Section 44 AB was inserted in the Act states only about "further report prescribed under the Act" . There is no mention of Chartered Accountant. So, who should sign the form?
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Mrs. R, being owner of the building, enters into an agreement of joint development with Mr. E, and Mrs. R will receive one flat and Rs.15,00,000 as consideration. She will also receive Rs.50,000/month towards rental compensation. Mr. E deducted TDS on all the payments made. Is rental compensation received under joint development agreement taxable? TDS deduction made by Mr. E on payments of Rs. 50,000. Is it valid deduction?
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No capital gain to be charged on profit from sale of rural agricultural land
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Respected Sir, I have followng query: As per Finance (No.2) Act, 2024, as passed by Parliament, newly inserted Section 194T has been made effective from 01/04/2025. Whether it means it is effective from AY 2025-26 or it means requireemnt of TDS are applicable in respect of amount paid or creidted on and from 01/04/2025, i.e. from AY 2026-27? Thanking you.
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If house property is purchase in name of my mother(100% owner) and loan for purchase consideration is borrowed by me(son) , the sole borrower, how can i claim deduction of home loan interest u/s 24(b) of income tax act? And if stamp duty is also paid by me(son) , how can i claim deduction u/s 80C ?
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Assessee deposited capital gain in CGAS. But while purchasing the new property utilized amount from personal saving account. Are the unutiled amount CGAS is taxable
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Sir, It assessess own commercial property trading for cloth business maintained and assessess business part place government occupied for road extension purpose.if assessess business part place registered to government after some amount received. Question: Assessess received amount from government capital gain tax implications for it act.
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regarding penalty u/s 271DA.