Answers By Expert: Advocate Shashi Ashok Bekal
1.The assessee is an individual engaged in the business of real estate dealings as well as in real estate consultancy. Assessee is also a partner in various partnership firms from which he derives exempt income and also has agricultural income. 2.The assessee had filed his return of income for A.Y. 2016-17 on 01.02.2017 disclosing total income at Rs. Nil. Assessee was holding land as capital asset jointly with his wife and son. purchase in the year 1990. 3.. During the year under consideration, the assessee had entered into development agreement with Developer , for development of the said land vide…
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Assessee is individual and offered the income U/Sec.44AD for A.Y. 2015-16. The case of selected for limited scrutiny on the ground that large cash deposits in the Bank. Assessee has given the explanation that these are out of cash sales offered in the Gross sales considered for the computing the income U/Sec. 44AD of the Act. After due verification of evidences submitted and explanation given by the assessee, assessement order was passed 22.12.2017 U/Sec 143(3) of the Act. A notice U/Sec. 148A(b) of the Act for A.Y 2015-16 sent as per the directions of The Hon’ble Supreme court on 04.05.2022 …
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The assessee is an individual engaged in the business of real estate dealings as well as in real estate consultancy. Assessee is also a partner in various partnership firms from which he derives exempt income and also has agricultural income. The assessee had filed his return of income for A.Y. 2016-17 disclosing total income at Rs. Nil. Assessee was holding land jointly with his wife, son and daughter During the year under consideration, the assessee and other family members had entered into development agreement with M/s. ABC, developers for development of the said land vide registered development agreement. In consideration…
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The assessee is an individual engaged in the business of real estate dealings as well as in real estate consultancy. Assessee is also a partner in various partnership firms from which he derives exempt income and also has agricultural income. The assessee had filed his return of income for A.Y. 2016-17 on 01.02.2017 disclosing total income at Rs. Nil. During the year under review appellant had entered into Sathekhat with land owner for purchase of land for a consideration of Rs.. 1,85,00,000/-. Appellant have paid Rs. 1.00 crores against the said “Sathekhat” and balance amount of Rs. 85.00 lakhs to…
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FA disclosed in audit, TP report etc but not in ITR return what defence and any case law ? is it rs 10 lac per entry ?
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Whether the taxpayer has the option to apply indexation on long term capital loss incurred on sale of listed equities?
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IS 50C applicable to sale of a flat between relatives below SDV ?
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Hotel bills zomato at MRP of food zomato pays after receiving sums from patrons . However, difference varies as per type of credit card used by patron. Is 194R applicable on variable difference ? [commission to zomato is separately paid by hotel ].
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on reconstruction of a partner ship firm weather section 45(4) or section 9B is applicable when capital asset is transferred to a retiring partner
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Assessee has received Notice for showing causes as to why order for reassessment should not be issued against the assessee dated 22 March 2023 The AO has passed order dated 25 March 2023 The provision read under provides time limit of 30 Days from the end of the month in which reply has been made Does the order passed becomes void-ab-initio as the month of Reply has not ended yet? or the Time limit given only provides an upper limit and not range of dates? Regards,
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Capital Gain U/SEc. 45(1)