Answers By Expert: Research Team
Search conducted U/Sec. 132 prior to June 2015 on Mr. X. On the basis of documents found during the course of search. Assessee Y received Notice U/Sec. 153C. In the Satisfaction Note, it is mentioned that certain documents seized during the course search at Mr. X , pertains to Mr. Y. The documents seized were slips of cash deposits in Bank. Assessee challenge the proceedings u/Sec 153C on the ground that satisfaction is incorrect as it mentioned documents pertains to Y and not Belonging to Y. Whether proceedings initiated U/Sec. 153 c are valid ?
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whether ratio of 280 Taxman 334 / 125 taxmann.com 253 (Panji)(FB) ( Bom) (HC) apply to 270A as well ?
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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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Sec153C of Income Tax Act.