Answers By Expert: Dr .K. Shivaram Senior Advocate
  Payment of arrears under DTVSV
We received Form 3 in December 2020 and subsequently, we were unable to log in as the ID was deactivated by the Department post the update of Income-tax portal to the new one. Communication of the same was made through email but got no response and until first week of November. Got a call from the department for clearing the amount of tax as under DTVSV so we paid the amount through challan and even today we have no response to it. Even the ID is not reactivated till today, what are we supposed to do? File a writ?


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  Cross objection
Can an assessee raise the question of Law which was not raised before the lower Authorities , for the first time before the Tribunal , in an appeal filed by the revenue .?


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  Section 50C applicablity
Sir, we had a property used as business asset, we have claimed depreciation on the assest for 8years, after which the business was not carried out and hence Depreciation was not claimed for about 9years. Now if we sell the Property, would that be considered as Short Term Capital Gain or Long Term Capital Gain? Would the sale of assest attract 50C or we can claim it as long term Capital Gain. Please suggest.


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  Sec 24 b
If property is in name of my wife who is sole owner, and loan is in my name ,the sole borrower. How could I take advantage of deduction under sec 24 b??


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  40A(2) disallowence when both taxed at MMR
Can there be any addition under section 40A(2) due to low GP of buyer (sister concern ) on account of enhanced /higer per unit purchase from seller( sister concern) ? Can it be argued that when both Firms ( seller and buyer) are paying maximum marginal rate of tax and there is no evasion of tax the addition cannot be made?. Please give any judicial ruling on this.


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