Answers By Expert: Mrs.Prem Lata Bansal
Whether imposition of tax on subsidy and concessions under amended provision of section 2(24)(xviii) (Finance Act 2015)
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Whether liability of the private limited company can be recovered from the Directors of the said company?
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Whether adjustment of demand raised in earlier years against the refund of the current year can be made by the Assessing Officer without giving any notice u/s 245 of the Act?
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What is the effect of fresh assessment order passed by the Assessing Officer in pursuance to order passed by Tribunal, which is barred by limitation?
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a) Whether deduction u/s 54/54F is available to the assessee if the investment is made in the residential house in the name of son, out of capital gain/net consideration arose on acquisition of his inherited farmland (agriculture) by the Government? b) Whether son has to face any taxation on account of purchase of flat or any other tax consequences?
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When notice u/s. 143(2) of the Income Tax Act was issued in the name of erstwhile existing company (amalgamating company) then whether the assessment order passed by the Assessing Officer in the name of amalgamated company is legal and valid?
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In Joint Development Agreement entered into by the owner of the land with the builder, when the transfer of land takes place and when the owner is liable to tax?
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Whether the loan given to the subsidiary company is a “capital asset” within the meaning of section 2(14) of the Income Tax Act and any loss incurred on “assignment” of such debt to the third party can be claimed as a short term capital loss?
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Subsidy , Capital or Revenue , Whether income chargeable to tax