Charitable Trust -Faceless Assessment –Accumulation of income – Failure to consider the submission, what is the remedy .?

We have submitted all documents for deduction as application including the bank statement.  The Fixed deposits made during 15-31st March shown as FDs in Balance sheet in respect of contributions received during 2nd week of March and claimed by filing necessary application for accumulation, the Officer misconstrued it as an application and treated the contribution as incoome and assessed the same.  The rectification Petition filed before Juridictional AO failed to appreciate the fact and simply rejected saying that the E-asst. officer has already considered.  What to do now ?  Of course we have already filed an appeal aleady.

► Read Answer

  How to compute Capital gains on bankruptcy of a company ?

"Transfer”, in relation to a capital asset, includes: (i) Sale, exchange or relinquishment of the asset; (ii) Extinguishment of any rights in relation to a capital asset; (iii) Compulsory acquisition of an asset; (iv) Conversion of capital asset into stock-in-trade; (v) Maturity or redemption of a zero coupon bond; (vi) Allowing possession of immovable properties to the buyer in part performance of the contract; (vii) Any transaction which has the effect of transferring an (or enabling the enjoyment of) immovable property; or (viii) Disposing of or parting with an asset or any interest therein or creating any interest in any…

► Read Answer

  When the assessment is made as per the Face less Scheme , Which will be Jurisdictional Appellate Tribunal /High Court orders will be binding on the Assessing Officer ?

in the case of a faceless asst/appeal , which will be jurisdictional itat/HC whose orders/judgements will be binding on the officer? a] as per address of Assessee or b] address of officer ?

► Read Answer

  Limitation period for issuing notice u/ s 148 is extended up to 30-6 2021 , However new section 148A is also operative w.e.f 1-4-2021 , whether notice u/s 148 is liable to be issued under section 148 or 148A ?

Date for issuing notice u/s 148 for AY 2013-14 is extended upto 30-6-2021. At the same time new section 148A is also operative w e f 1-4-2021. whether notice issued on 1-4-21 is liable to procedures u/s 148 or 148A?

► Read Answer

  In the course of faceless assessment proceedings , the assessee has requested for Video conference , however the order was passed without giving an opportunity of Video Conference , Whether the faceless assessment i s valid in law ?

In the course of assessment proceedings we have requested for video conference for explaining the issues involved , however we have not been an opportunity of video conference , what is the remedy for the assessee, can the assessee approach to HIgh Court for not giving an opportunity of video conference .

► Read Answer

  whether the Assessing Officer continue with bank attachment , even after the assessee paying 20% of tax in dispute ?

The assessee has filed first appeal which is pending for final disposal , meantime the department has attached the bank account . The assessee has paid now 20% of tax in dispute . Whether the revenue will lift the attachment of bank account . If the revenue does not lift the bank attachment , what is the remedy available to the assessee?

► Read Answer

  Whether launching of prosecution against a Director who is a senior Citizen and not involved in day to day Activities of the Company is held to be valid ?

Assessee is a Senior citizen , he was one of the Director in a company . The department has launched prosecution against all the Directors including the assessee. The assessee has moved an application for discharging him as he was not involved in day to day activities of the company . Magistrate, dismissed his application for discharge , what is the remedy ?

► Read Answer

  Can an Assessing Officer pass a final faceless assessment order , without passing a draft assessment order ?

Assessing Officer has passed the final order , without providing a draft assessment order . Can the assessee file writ petition against the order as the Assessing officer has not passed draft assessment order which is mandatory .?

► Read Answer

  Can an Assessing Officer pass the face less assessment order , without giving a reasonable opportunity ?

Assessing officer has passed the assessment order without giving a reasonable opportunity to the assessee can the assessed file the writ petition against the assessment order ?

► Read Answer