The Assessee is a registered trust incorporated for educational and other anciliary objects. The trust for FY 20-21 has accumulated 85% of the income and intends to apply the same in the subsequent years within a period of 5 years. Now, in FY 21-22, the Assessee Trust intends to incur expenditure on repairs and maintenance of a school that forms part of another Trust. The payment will be made by the Assessee trust to the contractor directly, no amount shall be paid by the Assessee trust to the other Trust. The invoice will be raised by the contractor in the…
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Assessee is partnership Firm filed the Return of Income For A.Y. 2009-10. while uploading the return due to some problem in soft ware the claim of Depreciation was not correctly uploaded and also received the Intimation U/Sec. 143(1)(a) from CPC Banglore in the month of Dec. 2010. In this intimation , the adjustment of amount of Depreciation was made and demand was raised . The assessee was unaware of this fact, and when the call came from TRO in April 2022, the assessee came to know such demand. Assessee firm has claimed the depreciation on the WDV as on 31.03.2009…
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Hi All, my dad was a tenant and the redevelopment agreement was signed then. He passed away and consequently it was transferred to my mom. She signed the PAA in 2019 and we finally have sold the flat in 2022. what can be the cost of acquisition in this case. its very confusing answers that i am reading. Appreciate your help here
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assessee is partnership firm. has received the Notices U/Sec. 148 for A.Y. 2013-14 and 2014-15 after 31.03.2021. Therefore, wishes to challenged the validity of the same . whether assessee has to filed two separate WP or can file One WP mentioning facts for each year separately in the petition. pl guide
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Assessee is an individual. During life time of his wife who was bed return due to bad health, married with another lady. He had children from first wife . The first wife expired after the second marriage. The entire community and other family members have accepted second lady as wife of the individual. The person had a girl child from the second lady. On all records the name of children from first wife , daughter of second child and second wife have stated as members of HUF of the individual. After the death of an individual, the full partition…
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Dear sir, Penalty notice u/s 271B received on 11.11.2019, what is the time limit for completion of penalty proceeding.
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Dear Sir I have filed appeal against the order under section 143(1) of the Income Tax Act 1961 passed by NGP-W-(4)(4) vide DIN No NA on 3/11/2021 for AY 2020-2021 to Commissioner of Income Tax (Appeals)Income Tax Department. This Appeal I have filed in addition to Rectification Request filed in favour of Income Tax Assessing Officer. But Last I have got notice from Commissioner of Income tax(Appeals) stating that I have to submit ground wise written submission , alongwith suporting documentary evidences on or before 24th April 2022, But inbetween on 12th April 2022 I have got order against my…
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During the course of assessment proceedings, the assessee died and the assessment was made on one of the legal heir of the assessee who filed that he may be taken as legal heir in this case. The assessment was made in the name of legal heir but the demand notice issued in the name of dead peron(assessee) What is the validity of such demand
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I am in receipt of a notice u/s 148A of the Act relating to AY 2015-2016. I have not filed the return of income during that year inadvertently because the operations resulted in a huge loss and turn over was 95 lakhs only. Can i file a return of income in response to notice u/s 148A or shall wait for a notice u/s 148 to receive from the department
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Was any extension of tome allowed for issue of notice u/s. 142(1) or u/s. 143(2) for the assessment Year 2020-21 due to covid?
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Can expenses incurred for the benefit of another trust be considred as application for the purposes of section 11 of the Act ?