Dear sir , I have received wrong demand order for selling a property in 2015 which actually I have purchased and loan is availed . In this case what need to be done ? 264 or CIT Appeal
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Dear all, I had one query: An assessee had himself filed his income tax return for the F.Y. 2014-15 and inadvertently shown Income of F.Y. 2015-16 in F.Y. 2014-15. There was no income in F.Y. 2014-15 as the assessee was unemployed. Later on Return of FY 2015-16 was filed with the actual income of FY 2015-16. Can the return of income filed for F.Y. 2014-15 be deemed invalid by the Department and vacate the demand? The return of income filed for F.Y. 2014-15 was filed erroneously and there was no income during the relevant financial year and thereby NO TDS,…
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Assessee is an individual and his assessment U/Sec. 143(3) was completed for A_Y. 2016-17. Later on it was reopened U/Sec 147 on the ground that claim of Interest paid and allowed as deudction U/Sec 56 and assessment was completed U/Sec. 147 r.w.s. 143 (3) Assessing at same income which was earlier accepted U/sec 143(3). Again Notice U/Sec. 263 was issued on the ground that claim of interest paid and allowed by the AO is incorrect and therefore order is erroneous and prejudicial to the int of revenue and without appreciation of submission passed the order U/sec. 263 holding order passed…
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Sir, The return was Originally Processed U/s 143(1). Time limit for revision has elapsed. Assessee has filed his return in wrong Form i.e. in ITR 4 instead of ITR-3 and by mistake has not disclosed his information regarding his Directorships and Shareholdings in his private limited companies, moreover some TDS credit claims were not made in the return, though the Income was properly disclosed. Rectification could not be filed. My Question is:- What remedy do the assessee has for claiming his TDS credits, which was not been claimed at all in his Original Return ? Whether the assessee can file…
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Dear All, I have one query: The assessment Unit of The Income Tax Department has passed order U/s 147 read with section 144 for the A.Y. 2018-19. While making assessment U/s 144, the credit of Tax deducted at Source (TDS) has not been given by the assessment unit. As a result, there is increase in income tax demand to the tune of TDS and thus interest U/s 234a is charged on total tax liability. How to apply for rectification of such order? Only Rectification of intimation U/s 143(1) can be applied for through Income Tax Portal. Appeal to CIT Appeals…
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The Assessee wrongly quoted the TAN in her return for the financial year 2013-14. Demand raised under sec 143-1 for the said financial year in Aug 2015. Now only she notices the demand but eight years have already passed. Now, she could not file any rectification or revision. What is the way out? Should she file the petition under sec 264?
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Dear Sir, Order passed by the Assessment Unit, Income Tax Department for AY 2018-19 and a Demand of Rs. 12 Lakh raised, notice of demand u/s 156 issued. Assessee is a retired employee and did not file his return for AY 2018-19. The assessee could not response to any notices issued by the Department till date as he is diagnosed with Cancer and his consultant did not inform him of the notices. My query is whether apart from revision of order u/s 264 or appeal before CIT(A), any other options available so that he can submit his responses and file…
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Assessee is trust registered Bombay Public trust Act and running a school and is not receiving any grant from GOVt. Filed the Return of income for AY. 2018-19. INTIMATION u/Sec. 143(1) is received where entire Gross receipts were considered as taxable at MMR and later on case was selected for scrutiny , where AO assessed the income as determined by the CPC U/Sec. 143(1)(a). Assessee filed an appeal against the assessment order passed U/Sec. 143(3) . NOW PCIT has issued NOtice U/sec. 263 on the ground that no question was asked to assessee about it's claim U/Sec. 10(23) and no…
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If the assessee has filed an appeal before CIT. But now assessee has to file application for revision of order under section 264. Can assessee can do so? As withdrawal of appeal is not allowed and as per section 264(4) assessee cannot file application for revision of order if his appeal is pending before CIT(A)
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Wrong assessment order u/s 148