Answers On Category: Income-Tax
  Section 244(1A)
Order for A.Year 2004-05 was passed u/s 143(3) & deman created which was partially paid as we were in appeal,after CIT Appeals,Tribunal & High Court we got favourable order in our favour in 2012 & after writing & visiting department order u/s 262(3)/143 was passed on 2.7.2018 but refund was received on 27.10.2020 & later on received refund against interest on 18.8.2022 & after rectifications u/s 154 received refunds again on21.11.2023 I am asking interest u/s 244(1A) but department has paid interest @6% that too upto  2.7.2018 date of order passed u/s 262(3)/143,want clarification on same.


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  TDS liability
Let me know TDS Liability in case of Import Freight paid to foreign shipping company


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  Exemption under section 10(23C)(iiiad)
whether exemption under section 10(23C)(iiiad) can claim against notice of section 148 for AY 2016-2017


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  Appeal against rejection order by the DRP and assessment order passed by the AO
Dear sir, I have filed an objection before the DRP and there was a delay of 11 days and on which sole ground the DRP rejected the objection filed by me. Meanwhile, the AO has confirmed the draft Assessment Order. Now where appeal lies I mean before the CIT or the ITAT. Thanks.


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  APPLICABILITY OF SECTION 9B , 45(4) AND 48 (iii)
A partnership firm (firm) was incorporated on 20-02-2014 with four partners each contributed Rs.3375000/- and having 25% share in profit / losses. The nature of business of firm is to develop real estate and deal in sites. The firm purchased a plot of land for Rs.13200000/- on 12-05-2014. No business had commenced however some development on plot was done till 2024. There was no further sale or purchase of land. Between 2014 & 2022 two partners  retired and one new partner was inducted in the firm. The retiring partners were paid only their capital contribution of Rs.3375000/-. This amount was…


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  Charitable purpose
I have a charitable trust registered under 12AA Can I utilise my fund to provide food to orphanage


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  Credit of TDS
Assessee is promoter and builder and offering the income from business and profession by following percentage completion method , However while filling the Return of Income for A. Y. 2023-24 has claimed the entire TDS made by the flat purchasers against the income offered. CPC U/SEc. 143(1)(a) has disallowed such claim and allowed the proportionate TDS as per the Income offered in the return and raised the demand by adding  interest U/SEc. 234B of the Act 1. Whether this action of the CPC is justified under the Act and 2. any other remedy which assessee can  exercise in support of…


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  Addition on the basis of loose papers found at Third person
Assessee is an individual and has some financial transaction with the director of the company in which search action U/Sec. 132 was conducted . In the search a hard disk was found where the noting about the financial transactions were made for the F.Y 2018-19  . Some entries on the name of the assessee were  also found. on the noting name of the firm in which assessee is partner is mentioned. Assessee has denied any transaction in cash with the company and also asked the documents and statement of persons on the basis of which the AO  has drawn the…


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  MUMBAI-FLAT SHARES
My late mother and I had signed purchase agreement for flat in MUMBAI in mid 90's . She and late father both passed away in 2000s. The share certificate clearly shows my 50 % ownership on it. Step mother is now isolating me and fraudulently attempting to transfer name based on an altered probated will and has been collecting rental income since 4 years on this flat because I am residing overseas on work and was not present during the will probate. Society committee has been issued legal notice by my lawyer to not permit any name transfer of my…


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  Transfer of PAN to central Circle
Sir, Please explain in what situations the PAN will be transferred to Central Circle. Also, pl clarify if PAN will be transferred in cases, where investigation wing receives information from the third party about income which has escaped assessment and he directs the assessing officer for issue of 148? Will it be done by jurisdictional AO, Central circle or Faceless unit?


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