Whether issue of reassessment notice is valid merely on the ground that property sold was not registered ?

Where does it says that property should be registered property for eligibility of claiming LTCG and how there be discriminations for assessee who are reqularly investing property buying and selling in a cyclic manner where department not even question or verifying whther property bought or sold are registered property under registration act Where as when assesse sold the apartment and deposited LTC in into bank LTCG deposit scheme and while requesting for NOC in form G the lowest level officer ACIT DCIT without applying any mind reopening cases interrupting the various sections and then issuing notices after notices clueless misusing…

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  Whether payment to unauthorised occupant for vacating the land is allowable as deduction as cost of improvement ?

Whether payment made to the tenant for vacating the land in his possession just before its sale is allowable as cost of improvement or expenditure incurred in connection with transfer. Whether the position would be different if the tenant is in the nature of unauthorised occupant of land?

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  Whether interest on compensation received under land acquisition Act is taxable ?

AfterGhanshyam (HUF>[2009] 315 ITR 1 (SC), it was settled thatinterest received on compensation or enhanced compensation under section 28 of Land Acquisition Act, 1894 is not taxable being part of enhanced compensation itself Courts /tribunals have decided in favour of assessee on the basis Ghanshyam(HUF) consistently. However, P & H High Court in Mahender Pal Narang v. CBDT [2020] 120 taxmann.com 400 (Punjab & Haryana) decided against the assessee by relying on sections 56(2) and 57 of the 1961 Act. P & H High court while deciding against the assessee, dissented with Gujarat High Court Movaliya Bhikhubhai Balabhai v. ITO(TDS)…

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  Whether Declaration of higher income under preemptive taxation scheme than prescribed under Section 44ADA of Income-tax Act, 1961

Dear Sir, Ma'am, the query is as follows - Both Section 44AD and Section 44ADA prescribe a minimum threshold of declaration of income of 6%/8% and 50% of the turnover respectively in order to opt for presumptive taxation scheme, otherwise tax audit becomes applicable. These provisions also allow the assessee to declare income higher than the prescribed limit of 6%/8% and 50% in the return of income. A question arises whether declaring such higher income is compulsory in case where the actual income of the Assessee exceeds these threshhold limits or can the assessee continue to opt to declare income…

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