Bogus purchases and sale

Assessee firm M/S. ABC  is partnership firm engaged in the business of trading of goods. During the search with another co, it is found that purchases effected by the co from partnership firm are not supported by Movement of goods, and the E way bill and toll receipt, and therefore AO considered the same as bogus purchases. On this ground the AO has made addition U/Sec.68 by considering the sales as bogus. Is action of AO is justified in Law.

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  157A upza and lr act

उत्तर प्रदेश में निवास करने वाला अनुसुचित जाति का व्यक्ति अपनी भूमिधरी भूमि बिना अनुमति के विद्यालय को विक्रय करता है तो उस विक्रय विलेख पर धारा 157A UP ZA and LR act के प्रावधान लागू होंगे ? भूमि का क्रय जरिये उप प्रबंधक हुआ है जो कि अनुसूचित जाति का है| भूमि का क्रय दस वर्ष पूर्व हुआ है|विक्रय विलेख के संपादन के उपरान्त उपरोक्त भूमि को धारा 143 UP ZA and LR act के अन्तर्गत न्यालाय द्वारा अकृषक घोषित किया गया है| यदि उक्त विक्रय विलेख पर उपरोक्त कानून के प्राविधान लागू होते है तो उसका बचाव क्या…

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  Capital gains from sale of residential property

Joint property bet. me and wife bought @32 lacs on December 2008. For Improvement spend about 8-10 lacs but no supporting bills as was done during 2009 over a period of one year. Now sold property @120 lacs on August 2022 and 10 lacs received separately by cheque towards fixtures and fillings. What will be the  capital gains?? (more…)

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  Membership of International Trade organisation

Assessee is partnership firm engaged in the running multispeciality hospit  and all partners are doctors. The membership of international trade organization is taken in the name of one of the partners ,  having object of increasing the networking and focus on  B to B business's or profession. Whether one time  membership fee in the name of one of the partner  amounting to Rs. 10 lakhs is paid. whether this amount is allowable deduction in the hands of firm ?

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  ALLOWABLE EXPENSES UNDER SEC 54 TO MAKE THE FLAT HABITABLE SO THAT EXEMTION CAN BE CLAIMED

I have purchased flat recently which is in unfinished or semi finished condition.ie wardrobe cabinets not in place,kitchen platform , kitchen cabinets not in place,interior not done at all. Pl let me know what are the expenses allowed under sec 54 to complete interior of the flat so that exemption can be taken.

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  APPEAL BY NRI

WHETHER AN APPEAL FILED BY NRI WOULD BE HEARD IN FACELESS MANNER OR IN PHYSICAL  MODE?   2.  WHETHER  ASSESSMENT PROCEEDINGS IN THE CASE OF       NRI WOULD BE HEARD IN FACELESS MANNER OR IN PHYSICAL  MODE? 3. WHETHER BOTH APPEAL  AND/ OR  ASSESSMENT  PROCEEDINGS ARE COVERED BY SECTION 144C ?  

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  Issue of share at price lower than NAV by pvt ltd co

Will this attract any tax liability ?

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  Buy back of shares by Pvt Ltd cos

After introduction of 56[2]x , will Buy back of shares by Pvt Ltd cos be covered  in the hands of shareholders on difference in FMV and buyback price?  

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  income offered in hands of spouse

Full tax was paid by wrongly offering income in hands of spouse Mrs A and tax on LTCG was paid fully . What remedy lies for the other spouse Mr A whose case is reopened for same tax  and same income ?

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  43B* ESIC PF paid within grace period of 5 days [employee’s contributions]

Is this still allowable after judgement of SC in the case of Checkmate case ?

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