Answers On Category: Income-Tax
please give a solution for the delay Condon for filing Form 10B AUDIT REPORT.
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When I was the Secretary of a Cooperative society, I filed an appeal at CIT against an order issued by IT department for paying a penalty of 2.45Cr against non filing of IT return. Appeal is pending. Now I resigned from the post of Secretary and new person assumed the charge of Secretary. My question is that how can I change the name in appeal as I resigned from the post of Secretary who is responsible for legal proceedings.
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Assessee received notice u/s 148A(b) dt. 16.08.2024. He file reply on 24.08.2024 mentioning as under:- Copy of Approval not provided with the notice u/s 148A(b) and order u/s 148A(d) but provided with notice u/s 148 which was issued on 31.08.2024. Asseessee asked for documents on the basis of which the department wants to re opening the case. The department issued notice on the basis of investigation report but no inquiry was conducted by the officer who issued notice u/s 148A(b). The assessee asked for statement of the persons concerned and also cross examination of the person who issued statement but…
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The assessee sold a rural agriculture land in PY 2019-20 and the same was not shown in original ITR and now reassessment is going on. The assessee had receieved Rs. 37.5 lacs in cash and remaining payment through cheque. The assessee had given statement on oath u/s 131A that he had received cash of Rs. 37.5 lacs also the agreement of cash sale was available with department. Whether penalty under section 269SS will be levied on sale of such rural agricultural land ? Secondly, whether ITR can be filed in response to 148 notice beyond 90 days and can we…
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i hold tenancy rights to a commercial premise the tenancy is in the name of my partnership firm the entire building is going for re-development due to notice issued by MHADA under clause/rule 79 will my firm be liable to any tax due to conversion of tenancy to ownership of the property ?
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Whether online paying of poker games and winning from same be declared as profit & Gains from Business
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Tribunal recently on dated 26.06.2023 passed an exparte order on an appeal filed by the revenue and same order was served around dated 30.07.2023 mentioning the point that on perusal of record we find that department contention is correct ,whereas in contradiction to the same when we approached ITAT to check the file they refused on the pretext that same is missing ,disappointing by such act of ITAT we procured the copies of documents of such appeal proceeding under RTI act 2005 ,initially even under RTI application the documents of file was refused by ITAT by telling by ITAT that…
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Whether there are any judgements in which it is held that the provisions of section 56(2)(x) of the Income Tax Act, 1961 are not applicable in case of bonafide purchase of property. The difference between SDV and the sale consideration cannot be taxed under 56(2)(x) in case of bonafide purchase.
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Sir, Assessee an individual sold shares and earned long term capital gains (AY 2024-25). Invested in two adjoining flats by two seperate agreements, making two flats as one. Whether can claim exemption u/s 54F - refer word ONE residential house in Sec 54F. Please provide supportive case laws
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271(1)(b) - can penalty us 271(1)(b) levied for incomplete reply ?
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DELAY IN FILING FORM 10B AUDIT REPORT AY 22-23