Answers By Expert: Research Team
Dear Sir, Please give your view and guide us: Order for A.Y. 2010-11 to 2019-20 have been passed on 24.04.2021 after taking approval on 23.04.2021. On 24.04.2021, it was Saturday. DIN was intimated to the assessee on 31.05.2021 mentioning in the letter that order has been passed on 31.05.2021. The body of the assessment order does not contain DIN. As per circular no.19 dated 14.08.2019, the maximum number of days for generating DIN is 15 days. The AO issued another letter dated 26.07.2021 mentioning that order has been passed on 24.04.2021 and generated another DIN for order passed u/s 153A.…
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A house is sold to spouse under registered deed below SDV ,remaining sum is shown as unregistered but signed gift deed . Is this a valid arrangement ? Can this gift deed be rejected as invalid ?
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when registration of a political party is cancelled after survey/search, whether donor will lose deduction of the sums donated before that date ? Whether old case laws will apply or not ?
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Assets found from lockers in name of 1] relatives 2] employee 3] outsiders are these Benami property ?
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Can ITAT decline to hear appeal against order u/s 263 just because another order u/s 143[3] r w s 263 is passed making those additions ?
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will deduction be denied to donor if certificate of such donee party is revoked after donation is given ? can 115bbe be invoked ? will it attract 200% penalty u/s 270A? can penalty be imposed u/s 271AAc in addition to 270A? Can penalty be levied u/s 271AAD in addition to above said penalties ? Is prosecution possible ?
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what is the remedy against Look Out notice under BMA ?
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Can a application for rectification be filed where the assessing officer makes an addition under 69A when the section is not applicable In the present case the addition has been made on account of a "transaction" recorded in the books of account. In the present case the assessee a stock broker on clients orders executed orders of purchase and sale of shares through the national stock exchanges. on behalf of an alledged paper company duely registered with the ROC all transaction being carried out through banks and dmat accounts. The total amount RECEIVED on account of such transactions was around…
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Search u/sec. 132 of the Act is carried out in the month of Jan 2023 and incriminating documents are found for the FY 2010-11 to Jan 23 are found. How many years of assessment will be re opened for 6 years or 10 years proceedings the year of search 22- 23.
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An Person of Indian origin, who is having US citizenship, has after working in Canada and USA for many years, has not settled in India and is residing in India for more than 15 years and his status as per Section 6 of Income tax act is Resident and Ordinary resident. He is filing regular return in India with respect to his Indian income and He is also filing return in USA with respect to his income in mutual fund, investments etc derived in USA. He has never shown his investment held in USA in ITR - Schedule FA. So…
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Questions about order passed without and search conducted as a case of mistaken identity as detailed below