Penalty u/s 271(1) (c) without initiation of proceedings mentioned in the assessment order

Can Penalty u/s 271(1)(c) be imposed when the the assessment order does not record the initiation of penalty proceedings.Any caselaws on Section271(1B)?

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  Barred by limitation or not

The notice us 148 of I.T, Act has been issued on 08.04.22 for the first time for the assessment year 2015-16, as the assessee has deposited more than 50 lakhs during the financial year 2014-15 without issuing notice u/s 148A (b) of the Act. Whether the notice issued is barred by limitation? Is it legal?

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  11UA

can preference share be valued at NAV ?

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  section 11 of Enemy property act

what is the defence available to the person who is served with a notice u/s 11 of this Act ? Can he save the property so bought without any knowledge of the same being a enemy property?  

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  Foreign ESPP – Summon U/S 131(1A)

I have received a summon from IT India referring to undisclosed foreign assets or interest. It does not specify any assets in specific but only assets of such nature that I have is ESPP stocks. I left the company that gave me ESPP stock in year 2020 and missed declare ESPP stock for AY 21-22. How do I reply to summon? Can I correct the ITR for FY 21-22 before replying?

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  5oC

flat sold to relative below SDV , will 50C apply ?

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  Surchage on AOP

when AOP is taxed at MMRate, Surcharge Should Charge at Slab wise or flat 37%

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  148A vs 148

In the case of a search/related party's case , notice issued u/s 148A instead of 148. Will AO get extension of time ?

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  271AAD

whether this section apples to political donations made by donor to a party which has later confessed having refunded cash on pro rata basis ? whether this will attract BMA ?    

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  Sec. 37

The assessee is a company engaged in the business of manufacturing and trading of machine tools. The  A.O. had made an addition of Rs. 14.5 lakhs on account of disallowance of investments and irrecoverable loans and advances written off on the ground that the said sums are given to subsidiary of the assessee company as capital investment and loan and hence are capital in nature and neither the said amount were taken as part of income in any of the earlier years without appreciating the submissions given by the assessee that amount paid by the assessee co clearly in the…

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