Dear Sir, My query is as follows: If a search on a person took place on 30.09.2015 Return for assessment year 2014-15 filed on 30.09.2015 Last date for issuing notice under section 143(2) is 30.09.2015 Whether we can say, proceeding for A.Y. 2014-15 is unabated proceedings or not Whether the plea that addition can be made only on the basis of search document can be taken for A.Y. 2014-15
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Notice U/s 143(2) issued by ITO wd 20(3)(5), who has no territorial jurisdiction over the assessee for AY 2014-15, actual jurisdiction lies with ITO Wd 19(3)(5), an objection to that effect was filed within 30 days of issue of notice. However ITO 20(3)(5) asked for details time to time and assessee provided whatever the ITO asked for and an order was passed U/s 143(3) with an addition of Rs. 1 cr by disallowing LTCG on shares considering it as bogus. Assessment was completed without removing objection filed by the assessee for jurisdiction. The assessee is in CIT (A), CIT (A)…
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Sir, the IT deppt. had sent to the bank attachment notice of an assessee on february 2020. The assessee's appeal is pending and he has not paid 20% of the demand. He has filed for saty of demand but no reply has been submitted. In the mean time,6 months have elapsed and no extention letter has been sent to the bank for attachment. Can the bank account be released based on expiry of 6 months?
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Dear Sir, One Charitable Trust with 12A and 80G registrations would like to donate to another Charitable Trust 12A and 80G registrations. In the light of the new amendments, can this be done?. If it can be done, any steps are precautions to be taken?
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Can a NGO sign a JV with Agency for implementing the project and receive funds directly from the donor company to the implementing Agencies.....
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what would be taxability on waiver of loans in light of section 2(24)(viii). What will be taxability in case a private limited company waives its loan given to another private limited company. Will it be taxable u/s 56(2)(x)
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If additions are made of more than Rs. 2 lakhs, under section 68 for cash credit or section 56 for gift received, whether section 269ST can also be applied by the AO and say there is violation of this section?
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When a private limited company makes an inter-corporate deposit with another sister company where a common shareholder holds more than 20% in both companies, whether provisions of deemed dividend u/s 2(22)(e) are applicable? What would be the implication of deemed dividend if debentures are issued by one company and subscribed by the other sister company?
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If the person carrying the whole sale business of any product and, during the year of tax computation, if the same person invested the surplus money in share capital market where the transactions done in all format including cash segment, derivative segment and commodity segment on regular basis. So, how to treat the above transaction in books of account and how to make computation for the same.
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Company filed the Form-1 with declaration on 25-12-2020 without payment of tax on reduction of losses or depreciation as per Rule 9 (1) (ii) of the DTVSV Act, 2020 with option to carry forward the reduced amount of loss or unabsorbed depreciation as per the provisions of said Act. Company received a notice dated 30-03-2021 {practically after 3 months and that too on last date of VSV Scheme} from Ld. Income Tax Authorities mentioning therein the figures of “Unabsorbed Losses” and “Unabsorbed Depreciations” as computed by them with direction to the Company to revise the figures of Form-1 as per their…
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Whether assessment proceedings abated and addition can be made only on the basis of incriminating documents found in the course of search proceedings ?