What is the last date for passing order under form 5 for Direct Tax Vivad Se Vishvas Scheme.
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Sir , We have already paid tax settlement amount demanded by IT under Vishwas Se Viwad Scheme. We withdraw the appeal in portal as well by uploading Form 1,2 & 3. But we were late in replying Form 4 payment details because of my father medical condition. But we have already paid tax settlement amount as demanded by IT within given time. It just that we failed to submit Form 4 on time for which we got few notices. Now we have submitted Form 4 and it show Awaiting Form 5 from CIT on portal. What can be possible outcome…
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Assesee is LLp and engaged in the business of call center. For procuring business, assessee has paid Re. 5 lakh as commission after deduction TDs and claimed it as deduction as business expenditure. Assessee has given confirmation from the party along with PAN n paid the amount by account payee cheques. Ao issued summons U/sec 131 to the Act, to the party, mail ID is block. Ao has issued show cause to the assessee asking as to why this expenditure should not be disallow as party has not filed copy of IT return of the recipient . Whether action of…
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Search conducted from unknown party, excel sheet found and some data found in that excel sheet regarding my property. AO can make addition on that basis
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The assessee is a LLP engaged in the business of construction having plot of land as a stock in trade. The cost of the said land in the books of the assessee is approximately Rs. 15 crores and the assessee is holding the said land for a period of more than 5 years. The assessee also got plan sanctioned for a housing project to be constructed on the said land. However, due to some problems in the partners, they have decided to sale the said land along with all rights and liabilities as slump sale to M/s ABC. The net…
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THREE CO-OWNERS PURCHASED A PLOT OF LAND IN 2012 AND IT WAS SOLD IN 2017. ALL OF THEM DECLARED THE INCOME IN THEIR RETURNS WHICH WERE ACCEPTED U/S 143 (1) . NOW IN ONE CASE , THE ASSESSMENT IS REOPENED U/S 148 AND COST IS DISALLOWED AS PURCHASE DOCUMENT WAS NOT REGISTERED. IS THIS CORRECT ? PLEASE CITE CASE LAW, IF ANY BECAUSE IN OTHER 2 CASES ASSESSMENT HAS NOT BEEN REOPENED.
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Assessee is company has filed the Return of Income for every year. Since assessee is engaged in the business of executing contracts , due to TDS there is always refund to the company. Almost every year assessment is completed U/Sec 143(3) by making an addition on the ground of difference in receipts as per 26AS and receipts as per profit and loss account since assessee could not give reconciliation. Assessee submits that since it is company, books of accounts are audited under co act as well as income tax Act and diffrence in mainly due to offering of income on…
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Certain Addition were made to the Return of Income On account of Investment in House Property and Difference in stock found During Survey operation in Assesment completed u/s 143(3) For AY 2006-07. In Quantum Appeal Before CIT(A) the Additions Were Confirmed. ITAT vide Order Dated 08/07/2016 Confirmed the order of CIT(A). The Said order of ITAT as per certificate issued by Registrar was sent to Principal Commissioner on 09/09/2016 Penalty Notice u/s 271(1)(C) was Issued for Concealment and furnishing inaccurate particulars of income.(in the printed form non applicable portion was not struck off) Penalty u/s 271(1)(c)was lavied by A.O. by…
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Assessee is partnership concern engaged in business of construction and trading of land .during the FY 31.03.2017 assessment was completed by accepting the income return by the assessee firm on 31.12.2019. Departmental Auditor has raised the query about not making an addition on account of difference in opening cash as per books and as per last years financial statement. Ao has issued notice u/Sec.154 on 13.05.2022 which was serve on email of consultant which was not operative and therefore no response was submitted . Ao passed the order U/sec 154 on 3.08.2022 by making an addition of Rs.8 lakhs .…
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Indian Company is having a Branch in Germany. Indian company remit the fund to German Branch against expenditures & so want to know if there is any TDS obligation under section 195. Refer any case laws.
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Non availability of Form 5