Whether legal heirs are liable to pay Capital gains tax in respect of property which was sold before his death ?

Sir, There is a sale of immovable property during the financial year 2020-21 in the month of August. However, the assessee has died at the end of the year in the month of March 2021. Is there a liability to pay capital gain tax on this sale by the legal heirs? Please clarify

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  Can reopening of second reassessment is permissible if the assessment was done u/s 143 ( 3), after approval of higher Authority ?

After order u/S 143(3) and assessments u/S 151 a can officer issue notice u/S 148.

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  Whether return in response to notice u/s 148 is required to be filed or mere letter stating that the return already may be taken as return in response to section 148 of the Act ?

sir, In response to notice u/s 148 , is it required to file return of income or is it enough by giving reply that return already  be taken as one in response to re opening notice. some officers insist  on filing of return .

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  Send us the copy of Judgment on reassessment , in CIT v. Smithkline Beecham Consumer Brands Ltd. (2003) 126 Taxman 104 (Chd.) (Mag.).

Need a case law of CIT v. Smithkline Beecham Consumer Brands Ltd. (2003) 126 Taxman 104 (Chd.) (Mag.).

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  DLC or circle rate of immovable property fixed by stamp duty/ Registrar office

Sir, Whether AO can make addition in the case of purchaser of property of the diffrence of actual purchase as per document and  DLC rate fixed by the registrar for stamp duty purpose. In my case actual purchase rate is lower to the DLC rate. whether declaration of deemed income is necessary. Presently, transactions are made below the DLC rate. Kindly clear whether DLC  rate is only considered for capital gain purpose and it is not applicable to purchaser of the property.

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  Whether ITAT can see the satisfaction note dwawn before search

Whether ITAT can see the satisfaction note drawn before search . S. 132 , 254 ( 1)

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  Re-assessment Proceedings/ Double Taxation. Applicability of section 153C

Assessment for A.Y 2012-13 was reopened by issuing notice U/S 148 on the allegation that the assessee has received Bogus commodity profit through banking channel and passed on cash as per statement of broker. The assessee had shown the profit on commodity and offered the same for taxation in the original return and also in the return filed in response to 148 notice. No deduction from the aforesaid income was claimed. Apart from various legal grounds of appeal one of the ground is , since the income has already been offered to taxation the addition of the same again on…

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  Problem in filing 1st appeal of Income Tax in faceless Regime .

In spite of our best possible efforts to file 1st appeal of Income Tax in faceless Regime we are not able to upload Form 35 alongwith neccessary documents due to technical glitches on Income Tax Portal . Please suggest the remedy available.

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  Rejection of books of accounts and applying 8% on sale to compute Income and passed ex parte assessment oreder

Ld AO passed ex parte assessment order without considering the part reply filed by assessee by rejecting books of accounts alleging that assesee has not produced books of accounts by applying 8% rate on sale even the case was not time barred.

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  Whether the Tribunal can condone the delay of seven years in fling the miscellaneous application for restoration of appeal u/s 254 (2) of the Act ?

Appeal by I.T.A.T was dismissed due to 'Non-Prosecution' on 13/07/2015 since no adjournment application was filed nor anyone on behalf of appellant appeared on 13/07/2015. The Appellant is basically agriculturist . The advocate engaged for appeal before I.T.A.T had expired. Appellant came to know about Tribunal order recently. If M.A. is filed with Affidavit explaining the above facts and application for condonation of delay, what is the possibilities of accepting the same, keeping in mind the delay of 7 years and particularly provision of Section 254(2) . Kindly give case laws.

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