whether ratio of 280 Taxman 334 / 125 taxmann.com 253 (Panji)(FB) ( Bom) (HC) apply to 270A as well ?
► Read Answer
Dear Sir, Please give your view and guide us: Order for A.Y. 2010-11 to 2019-20 have been passed on 24.04.2021 after taking approval on 23.04.2021. On 24.04.2021, it was Saturday. DIN was intimated to the assessee on 31.05.2021 mentioning in the letter that order has been passed on 31.05.2021. The body of the assessment order does not contain DIN. As per circular no.19 dated 14.08.2019, the maximum number of days for generating DIN is 15 days. The AO issued another letter dated 26.07.2021 mentioning that order has been passed on 24.04.2021 and generated another DIN for order passed u/s 153A.…
► Read Answer
The assessee is an individual engaged in the business of real estate dealings as well as in real estate consultancy. Assessee is also a partner in various partnership firms from which he derives exempt income and also has agricultural income. During the year assesseehad entered into Sathekhat with land owner for purchase of land on 04.07.2015 amounting to Rs. 1,85,00,000/- and paid Rs. 1.00 crores against the said “Sathekhat” and balance amount of Rs. 85.00 lakhs to be paid at the time of execution of the registered agreement for sale of land by the land owners in the name of…
► Read Answer
A house is sold to spouse under registered deed below SDV ,remaining sum is shown as unregistered but signed gift deed . Is this a valid arrangement ? Can this gift deed be rejected as invalid ?
► Read Answer
when registration of a political party is cancelled after survey/search, whether donor will lose deduction of the sums donated before that date ? Whether old case laws will apply or not ?
► Read Answer
I SOLD THE RESIDENTIAL PROPERTY WHICH I INHERITED FROM MY PARENTS AND EARNED LONG TERM CAPITAL GAIN ON SALE OF THIS RESIDENTIAL PROPERTY. I WANT TO INVEST THE CONSIDERATION ON PURCHASE OF ANOTHER RESIDENTIAL PROPERTY IN THE NAME OF MY MARRIED DAUGHTER. WHETHER I CAN CLAIM EXEMPTION OF CAPITAL GAIN ON SALE OF RESIDENTIAL PROPERTY OR IS IT NECESSARY THAT I MUST PURCHASE IN MY NAME. SECONDLY CAN I PURCHASE JOINTLY IN MY NAME WITH THE NAME OF MY MARRIED DAUGHTER. PLEASE SUPPORT YOU ANSWER WITH PROVISIONS OF I T ACT AND CASE LAW, IF ANY, ON THE SUBJECT
► Read Answer
1.The assessee is an individual engaged in the business of real estate dealings as well as in real estate consultancy. Assessee is also a partner in various partnership firms from which he derives exempt income and also has agricultural income. 2.The assessee had filed his return of income for A.Y. 2016-17 on 01.02.2017 disclosing total income at Rs. Nil. Assessee was holding land as capital asset jointly with his wife and son. purchase in the year 1990. 3.. During the year under consideration, the assessee had entered into development agreement with Developer , for development of the said land vide…
► Read Answer
Assessee is individual and offered the income U/Sec.44AD for A.Y. 2015-16. The case of selected for limited scrutiny on the ground that large cash deposits in the Bank. Assessee has given the explanation that these are out of cash sales offered in the Gross sales considered for the computing the income U/Sec. 44AD of the Act. After due verification of evidences submitted and explanation given by the assessee, assessement order was passed 22.12.2017 U/Sec 143(3) of the Act. A notice U/Sec. 148A(b) of the Act for A.Y 2015-16 sent as per the directions of The Hon’ble Supreme court on 04.05.2022 …
► Read Answer
The assessee is an individual engaged in the business of real estate dealings as well as in real estate consultancy. Assessee is also a partner in various partnership firms from which he derives exempt income and also has agricultural income. The assessee had filed his return of income for A.Y. 2016-17 disclosing total income at Rs. Nil. Assessee was holding land jointly with his wife, son and daughter During the year under consideration, the assessee and other family members had entered into development agreement with M/s. ABC, developers for development of the said land vide registered development agreement. In consideration…
► Read Answer
The assessee is an individual engaged in the business of real estate dealings as well as in real estate consultancy. Assessee is also a partner in various partnership firms from which he derives exempt income and also has agricultural income. The assessee had filed his return of income for A.Y. 2016-17 on 01.02.2017 disclosing total income at Rs. Nil. During the year under review appellant had entered into Sathekhat with land owner for purchase of land for a consideration of Rs.. 1,85,00,000/-. Appellant have paid Rs. 1.00 crores against the said “Sathekhat” and balance amount of Rs. 85.00 lakhs to…
► Read Answer
under/mis- reporting