Answers By Expert: Advocate Neelam Jadhav
Assessee is engaged in the business of Real estate and claimed the deduction U/Sec. 80IB(10) on the housing projects . AO has disallowed the claim on the ground that assessee has violated the various conditions. CIT A has confirmed the disallowance. On further appeal, Hon'ble ITAT has partly allowed the appeal with certain directions. AO completed the set aside assessment and again disallowed the claim of the assessee on the ground that Department has filed an appeal against the order of ITAT before HC and same is pending and accordingly assessed the same income again. Whether action of the AO…
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What are the consequences of 271(1)C ? also how to prove and how to solve 271 1c ?
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What is the remedy for assessee if appeal effect order is not given correctly by AO on ITAT orders and the same resulted in lower refunds and interest thereon.
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The assessee had issues that had gone to ITAT for ASST YEAR 2006-07 and thereafter AO gave appeal effect order.THEREAFTER the AO compared normal income and 115JB calculations .However in 115JB calculations the AO ignored 88E which per settled law is allowable from tax on 115JB income(PER KARNATAKA HC AND DELDI HC).The AO granted LOWER refunds on basis of 115JB calculations as it is higher on TAXABILITY as rebate was denied of section 88E from tax on 115JB.BEFORE CIT(A) AND ITAT 88E AND 115JB THINGS WERE CONSEQUENTIAL ISSUE AS STT AND NON STT INCOME CALULATIONS WERE MAIN ISSUES. QUESTIONS 1.WHAT…
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The assessee sold an immovable property and deposited sale consideration to the tune of caital gain under Capital gain scheme account and claimed deduction in ITR 2020-21 under 54F. Thereafter, the assessee demised before utilizing the deopsoit amount as per scheme. What will be tax treatment of Capital gain in case, the legal heir of assessee does not purchase any property or does not utilise the money as per scheme.
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hello, i just want to know if dairy farming income is below 2.5 lakh. is it taxable? thanks.
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if in a private ltd co , strike off by roc can AO pass orders under section 144 and taxed . second question whether all receipts can be treated as income of a pvt ltd co who is builder . case laws in favour of assessee please
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i made computation of income in a simple paper in response to notice u/s 148. ROI was not filed u/s 148. Whether computation of income is sufficient in place of return of income and valid. The AO has treated as income of the assessee as per computation of income. it is valid or invalid, please intimate
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During the course of assessment proceedings , for verification of Purchases called for information U/Sec. 133(6) from few parties at the flag end of assessment proceedings . Few parties responded and few not. Assessing Officer completed assessment by making addition of all purchases effected from these parties on the following grounds:: a. Parties have not responded therefore those are not genuine. b. Parties who have responded have not provided full information and provided details of their PAN and Financials alongwith account extract of assessee and confirm the amount of purchases . Whether action of Assessing Officer justified when a. He…
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Sold house involving LTCG - What are the must-to-d0 as the proceeds have been kept in parents' Savings & FD Bank Accounts; What would be the index from 2009 (purchase-deed) to 2021 (sale deed) ? For purchase, part investment was from Sister, who has now been paid with compensation for those 12 years - Eligible Interest on such borrowed money was never claimed in any of the Assessment Years from FY 2009-10 till FY 2020-21;
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Additions on the ground that Revenue has filed an appeal before the HC