Assessee is an individual and engages in business of construction. During the course of search conducted in 2023 what's up chat with one of the employee was found n seized. The noting in the chart were receipts on account of extra work and unrecorded expenditure . Whether entire receipts will be taxed or Income element will be tax?
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Respected sir, A charitable trust started in 1955 enjoying exemptions u/s 12A as well as 80G was allowed to the donation made to it. It was granted registration u/s 12AB . However, 80G exemption was provisionally allowed for A.Y 2021-22 to 2023-24 . It failed to renew it before 30th Sept 2022 . It filed form 10AB in October 22 for renewal of 80G benefit. However, the dept rejected the application on the ground of limitation period of 6 months. kindly advice the future course of action.
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Sir, What is the deductability of the stamp duty paid by the company at the time of merger? Will it be treated as capital expenditure?
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Sir, In a case where the show cause notice is issued u/s 148A of the Act under clause (b) and reply is submitted by the assessee within the time limit specified, even though the due date for passing the order u/s 148A(d) is completed, no action is taken by the assessing officer. What is the status in that case? What is the validity of the proceedings? Please clarify.
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Housing society pays conveyancing charges . whether it is a capital exp to be added to land or reduced from reserves already created earlier ? can it be claimed as revenue exp by any chance ?
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Assessee is an individual. assessee filed the ITR for the Ay 2014-15 which selected for scrutiny assessment under CASS which subsequently completed by making hug addition. When we go through the records it observed that Ao every time when notice issued U/s 142(1) for demanding records and documents, notice issued at preprinted format which have three separate paragraph. Out of which one paragraph pertains to instructing submission of return. As per my knowledge asking for ITR when valid ITR already in record without striking of such paragraph which asking for submission of ITR makes assessment proceeding null & void. Please…
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1] can one revise return filed uls 148 on 31-3-21? 2] can one revise return filed on 1-4-21 u/s 148 ?
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Mr. X, is a join a service at Dubai in the financial year 2013-14 and before joining service at Dubai he was a proprietor of a petrol pum and carring on the business from sale of petrol ,Hsd lubricant etc. and was filing his income tax return in individul capacity as resident, but after joining the service at Dubai from where he get salary he is still the propritor of the firm and carryon the business and filling is income tax return at India in his individual capacity as a non resident. My querry is that should he disclose his…
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Assessee is partenrship Firm and case of the assessee is selected for scrutiny for the AO for A.Y. 2020-21. AO has issued Notice U/Sec.143(2) and 142(1) and served up the assessee in time. later on there was change in the Assessing officer and new officer has continued the assessment proceedings by issuing Notice U/Sec., 142(1), to which assesssee firm has responded time to time by submittiing the explanation and completed the assessment U/Sec. 143(3) by making certain addition. whether action of new AO of completing the assessment with out issuing fresh Notice U/sec. 143(2) is legally valid? if Not ,…
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Respected Sir, A charitable trust regd u/s 12A failed to file the ITR for AY 2021-22 before the due date for filing of ITR i.e. after 15/03/2022 . However it filed audit report, Form 10B before due date for filing of form 10B. CPC while processing u/s 143(1) has not allowed the entire expenditure as application of income and treated the gross receipts as taxable income and taxed accordingly. In the intimation no reason given for the disallowance. For filing appeal what grounds can be taken and apart from appeal , any other alternative remedy available . Kindly enlighten.
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What’s up chat and income element