If appeal is allowed based on remand report containing no- negative remarks, is it possible for AO to file second appeal inspite of the same?
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After amendment to the above sections, is it still permissible to buy 2 adjoining flats with a common entrance/kitchen etc because each flat is too small for a person ? any case law after amendment ?
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I am a farmar in village owning 5 acres of agricultural land in Jind district of Haryana, which is being cultivated by me and my husband. My husband is a state government employee. We also having 2 cows and 4 buffaloes along with 4 youngers of them. Totally 10 cattles. Income from sale of milk in village (neighborhood) is approximately 10,000/month and some times Ghee is also sold which comes to average of 3000/month. Total income from wheat and rice crop is approximately 6 lakhs and from sale of milk and ghee is 1.5 lakhs. When a cow or buffalo…
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Assessee is private limited co engaged in the manufacturing of steel plates. during the course of assessment proceedings for A.Y. 20-21, AO has asked to submit the details of purchases. on the basis of details furnished by the assessee co, AO has issued summons U/Sec. 131 to the one of the supplier, who has appeared and given all the documents which have been asked by the AO and also submits the details of the party from whom he had effected purchases the material which has sold to the assessee co. On verification of the details A.O found that the parties…
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An assessee is owning old residential house and also plot of land. Both the assets are long term capital assets. Assesseee wants to sell plot of land and from the sale proceeds, assessee will demolish old residential house and wants to construct new house. Can assessee claim Long term capital gains exemption u/s. 54F arisen from sale of plot against the construction of new house in place of old demolished house . Also As the construction of new house will require handsome amount, Assessee's Daughter in law which she is also having Plot of land will sell said plot and…
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Assessee is LLp having 8 partners, engaged in business of construction. Is having 4 diffrent housing project . One project which is eligible for deduction u/sec.80IBA of which profits are shared equally. Remaining 3 projects which are not eligible for deduction u/sec.80IBA , they have decided to share profit sharing ratio in diffrent ration as per their mutual understanding due to involvement of partners, capital contribution by the partners . Issues : 1. Whether this arrangement is permissible under LLP act as well as Income Tax Act 2. Whether credit of AMT paid on project can be use against tax…
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Assesseee is trader of goods and duly register under GST Act. During the course of search of other party , cheque book of the assessee has been found and even accountant of the assessee has accepted that the sales effected to party are only accommodation entry. Ao during the course of assessement of assesssee has rejected books of accounts of the assessee and proposed to tax 5% of total transcation with the party where search conducted as estimated income in the hands of assessee . Is action of the AO is justified and whether assessee can submit that the 5%…
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Respected Sir, A company opted for concessional tax rate u/s 115BAA for AY 2020-21, did not file form 10 IC even within the extended period of 30/06/2022. It is faced with tax demand from CPC, what steps can be taken by the company to get the concesional tax u/s 115BAA
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We have Filed IT return for FY 2021-22 with deduction u/s 80IBA. and no option to file 10CCB was available that time as well. Now, Notice received saying you claimed deduction u/s 80IB and not filed for 10CCB. so not allowed for deduction. what action to tackle on this?
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Assessee is private limited co and engaged in business of manufacturing of spare parts of vehicles etc. Search U/Sec. 132 has conducted on the ground that assesssee has effected the purchases from the parties which are only providing accomodation bills and there GST numbers were cancelled subsequently due their involvement in issuing fake invoices. During the course of assessement proceedings assessee submits that it purchases are genuine and duly supported by all evidences such as invoice, material inwards note, payments by banking channel, transport receipts. When the asssessee effected purchases the supplier GST number was valid and same was also…
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remand report