Answers On Category: Income-Tax
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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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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Is this still allowable after judgement of SC in the case of Checkmate case ?
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order u/s 127 passed by cit without hearing Assessee. can it be challenged before ITAT in the absence of provision u/s 246A? what is the remedy once asst is over ?
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before amendment in 2020, 2 sections , notices u/s 153C and 148 had been issued without proper jurisdiction. whether issue of one in the place of other makes order of asst void or liable to curable defect?
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Assessment u/s 143(3) for asst year 2006-07 was made on 31/3/2008.Assessee paid demand determined.Notice u/s 148 was issued and 143(3)/147 order passed on 31/12/2009 and new demand raised.Assessee paid the demand within 30 days and gone to appeal.In appeal the CIT(A) gave major relief in 2012/ITAT gave major relief in 2015. Now the AO give appeal effect orders in FEBRUARY 2022 for both CIT(A) /ITAT ORDERS but interest u/s 244A/244A(1A) was given at 6 pc per annum. My query is whether interest u/s 244A(1A) of additional 3 percent interest per annum is applicable to assessee. Q 1)Why the same was…
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Is it possible to defer tax on capital gain by making a clause in agreement that transfer is piecemeal on payment only ? Is it possible to adopt cash basis of accounting for capital gain ?
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Is there any case law which favours the assessee that the creditors have been shown in balancesheet for more than 10 years but profitability u/s 41(1) should not be arise in case of closure of business also.
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Whether remittance by employer of employees' contribution towards professional tax falls within the ambit of section 36(1)(va)?
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Issue of share at price lower than NAV by pvt ltd co