Mr A  [resident of India ]went to USA on 11/12/19 and due to covid19, returned to INDIA only on 10/8/21. what  is status under ITAX for both asst years ? BS

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Assessee is a charitable trust running a primary school. Assessee trust do not have registration U/sec.12 AA. His consultant has filed the Return of Income by mentioning incorrect number of registration U/sec. 12AA of the Act. Also filed application for registration.  His application was rejected by the CIT on the ground of various defects in the financial statement submitted along with ROI and incorrect mentioning of Registration number. Notice u/sec.147 was issued . In response to said notice the assessee trust has filed the Return of Income where in all the errors in earlier Return filed were corrected and since assessee trust is running the school, the Income of the trust is claimed as exempt U/sec. 10 . However the AO has completed the assessment ignoring the Return filed in response to.Notice U/sec.148 completed the assessment by considering the Income of the trust as taxable on the ground that trust does not have registration u/sec.12AA and incorrect Return filed by the trust original. Whether the action of AO ignoring Return filed in response to Notice u/sec. 148 of the Act and denied the legitimate claim for exemption of Income U/sec 10 is justified. Please guide.

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Assessee firm Made a declaration under IDS 2016 disclosing regular income for AY 2016-17. However, could not make payment 3rd installment.  On the basis of invalid declaration of IDS , 147 notice for AY 2016-17 was issued and assessment was  completed by considering the income declared under IDS -2016. Assessee filed an appeal against the said order and since appeal was pending , opted for VSVS and complied with all conditions and also received form 5. Again notice u/sec 147 is issued on 31.03.2020 for AY 2017-18 on the ground of invalid IDS declaration. Whether action of AO is justified by taxing same income for AY 2016-17 and 2017-18. What is remedy for this situation. Please guide .

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why no recent judgements are uploaded after april 2021

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Yesterday, we purchased one residential flat for total consideration of 7912440 Rs. the builder has asked us to pay 79124 rs via TDS. Since there are 3 buyers (3 fund contributing buyers) and one seller, three FORM 26QB has to fill. After selecting “YES” in the section, are there any multiple buyers involved, in what to do next? Question 1 – What is required to fill the section of “Total Value of Consideration (Property Value)*” is it 7912440 or 7912440/3 = 26374Rs (see image 1) What is required to fill in a section of the amount paid/credited? (see image 2) is it 7912440 or 7912440/3 = 26374Rs (see image 2) Question 2 – Builder is asking entire TDS even though payment will be made in instalments, can we pay the entire TDS to the builder in one go and not at the time of making each instalment payment to the builder? as i don’t have any problem paying in one go. (since there is no revenue loss to the govt, assuming they won’t be bothered if we pay in one go) Reply and thanks

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Assessee firm has filed a declaration under IDS where in they have disclosed for AY 2015-16: Rs. 9,82,24,010/- as Business Income and For AY 2016-17: Rs. 1,15,04,953/- as Business Income. In the said declaration the assessee firm claimed the credit for the Advance Tax ,self assessment tax paid prior to date of IDS 2016  and TDS for both the assessment year However CIT has denied the credit for the said payment on the ground that it is not permissible to give credit of advance tax and self assessment tax  in IDS. On the basis of this information the AO issued Notice U/Sec.148  for A.Y. 2017-18, on the ground of Invalid declaration due to non payment of taxes as CIT has not considered the amount paid by the assessee towards advance tax . whether the AO is correct in issuing notice U/SEc.148 for A.Y. 2017-18 when the income declared under IDS is business income for A.Y. 2015-16 and 2016-17 which is regular income earn and chargeable to tax U/Sec 4 and 5 for A.Y. 2015-16 and 2016-17 ? Pl guide

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Sir In case of D search takes place in FY 2019-20 and few jewelry and cash was seized. No assessment u/s 153A was completed till 30-09-2021, being extended period of limitation for completion of assessment. However in Oct-2021 AO issues notices u/s 153C for AY 2013-14 to AY 2020-21 ie for 7 years. please tell if these notices are valid in view of non applicability of Sec 153C from 01-04-21 onwards, as the date of search in such case will be oct 2021 when the documents handed over to AO of other person has been over by AO of searched person. and if it is true, the Sec 153C not applicable from 01-04-2021. Secondly please appraise if the jewelry and cash seized can be claimed as no assessment has been made against panchnama in which jewelary and cash was seized; hence no liability.

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Rural agricultural land purchased as per documents at Rs. 9,00,000/- and DLC rate was 37,00,000/- (Local stamp duty rate). AO made addition of this difference u/s 56(2)(vii)(b). whether AO’s action is correct when rutal agricultural agricultural land is not subject to capital gain in thehands of saller. Kindly quote case laws on the subject. Smilar situation is in the A.Y. 2015-16,2016-17 and 2017-18. Kinly guide.

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In the case of non-government employees, the exemption under section 10(10AA)(ii) is to be  determined with reference to the leave to their credit at the time of retirement on superannuation, or otherwise, subject to a maximum of cash equivalent of leave salary of ten months’ leave calculated on the basis of average salary drawn during the 10 months immediately preceding his retirement. The entitlement of earned leave cannot exceed 30 days for every year of actual service rendered. This exemption  is to be further limited to the maximum amount specified by the Government of India. The maximum limit of exemption is not specified in the sub-clause. Instead, it is provided that the limit may be specified by the Central Government by way of notification in the Official Gazette, having regard to the limit applicable to the Central Government employees. The government vide Notification No. 123/2002 in S.O. 588(E), dated 31-5-2002 specified the limit of Rs. 3,00,000 under section 10(10AA)(ii) in relation to such employees who retire, whether on superannuation or otherwise, after 1-4-1998.Thereafter no notification has so far been issued in this regard. Query is Whether employees of Nationalised Banks and Public Sector Undertakings are Government Employees or Non-Government Employees. And Leave Salary Encashment received by them is fully exempt or exempt upto specified Limit.

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Can CBDT override the delegated legislation? Can notice be issued under Section 148 according to the old regime, despite the new regime?

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