In case of assessee, ITAT has set aside the assessment order to the AO with directions to re-asses the income. Assessing officer has passed the order as per the direction of the Hon’ble ITAT. Whether after decision of Tribunal, Assessing Officer is duty bound to charge interest under section 234B up to date of original order of assessment passed by him and not up to date of reassessment order passed by him in pursuance of order of Tribunal. Kindly guide.

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whether notice under section 144 (Best Judgment Assessement) be issued for non response to notice under section 148 of IT Act.

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A public limited company has deducted tax at source on Dividend @15% for non submission of PAN. I have a PAN but it was omitted to be submitted to the Company. Is it possible to set off the TDS at the time of filing my Income tax Return? Do I Have to include the Dividend amount in my Return.

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ASSESSMENT PROCEEDINGS FOR AY 2018-19 CONDCUTED AND ASSESSMENT ORDER PASSED WITH NIL ADDITION, ACCEPTING THE RETURNED INCOME. BY NFAC DELHI. WITH RESPECT TO ASSESSMENT PROCEEDINGS UNDERTAKEN BY NFAC DELHI, NO COMPUTATION SHEET OR DEMAND NOTICE IS ISSUED. ONLY ASSESSMENT ORDER IS RECEIVED. LATER ON, CPC BANGALORE HAS RAISED DEMAND ON PORTAL AGAINST THE SAID AY ON ACCOUNT OF NON-GRANTING TDS CREDIT. WHAT ACTION SHOULD BE TAKEN? IT APPEAL IS REQUIRED TO BE FILED, THEN AGAINST WHICH ORDER, APPEAL SHOULD BE FILED?

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Dear Expert, A private company filed its tax return for FY 2019-20 and availed the benefit of lower tax rate as prescribed under section 115BAA However, filing of form 10-IC as prescribed under sub section 5 of section 115BAA was done much later due to inadvertence. Return was filed within statutory due date but form 10IC was filed in Feb 2021  (about 2m delay). Sub section (5) states Nothing contained in this section shall apply unless the option is exercised by the person in the prescribed manner on or before the due date specified under sub-section (1) of section 139 for furnishing the returns of income for any previous year relevant to the assessment year commencing on or after the 1st day of April, 2020 and such option once exercised shall apply to subsequent assessment years Form 10IC could not be filed at the point of filing tax return as there was some error in the portal. But there is no proof of error available for record. In this scenario, can we take a position that filing of the Form is just a technical formality? Also note that Covid-19 related disruptions were prevailing at this time. Do we strictly interpret the section or whether we can conclude that even though the form is filed with a little delay tax payer could assert his choice to apply lower rate of tax u/s 115BAA?  Thank you for shedding light on this issue.

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Assessee has individual who has purchase flat from Builder. There was search at the premises of Builder from whom assessee has purchased flat. During the course of search one statement in excel format in which name of flat holders, flat no, agreement value and on money , area etc mention. Builder has accepted that his additional income earned by him and paid the taxes. On the basis of this incriminating material and statement of Builder Assessing Officer has recorded a satisfaction note that on money amount is income to be taxable in the hands of assessee and sent the satisfaction note and incriminating material to the Jurisdictional AO, who has issued notice u/sec. 153C for 6 years. Assessee has filed the Return in response to said Notice. And asked the AO to provide satisfaction note and incriminating material,  which has been provided by the AO. On verification of the incriminating material and satisfaction note it is found that: a. In satisfaction note flat number and amount mention is different than the flat purchase by the assessee. b. Statement relied up on as incriminating does not give the date on which amount of on money is paid? Issues : a. Whether notice issued u/sec.153C for 6 years is correct b. Whether assesse can challenge the notice issued U/153C is not valid as the number of flat , agreement value , area of flat etc are not the same which assessee has purchased. c. Statement in excel format found does not have any date or signature of the assessee. d. Whether the assessee can take the objection when no incriminating material is found no addition can be made. Kindly guide

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PLEASE EXPLAIN UNDER WHICH SITUATIONS, SEC 270AA AND 273A CAN BE TAKEN AS A STAND. Q – ASSESSMENT ORDER PASSED WHEREIN CERTAIN ADDITIONS WERE MADE. EVEN AFTER ADDITION MADE – THERE WAS NO TAX PAYABLE (REFUND AMOUNT GOT REDUCED). THEREAFTER PENALTY PROCEEDINGS UNDERTAKEN U/S 270A AND PENALTY FOR UNDER-REPORTING AND MIS-REPORTING LEVIED. AGAINST THE SAID PENALTY ORDER, APPEAL HAS BEEN FILED AND STILL PENDING. Q1 – CAN WE RESORT TO SEC 270AA – AS THERE WAS NO TAX PAYABLE. THE PERIOD OF 30 DAYS TO FILE APPLICATION UNDER THE SECTION HAS ALREADY EXPIRED. ANY CASE LAW WHERE SUCH DELAY IS CONDONED. Q2. CAN ASSESSEE OPT FOR WAIVER OF PENALTY U/S 273A.

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DURING AY 2017-18, PROPREITORSHIP FIRM WAS CLOSED AND PVT LTD COMPANY WAS FORMED. ALL THE WORK/CONTRACT WERE EXECUTED AND UNDERTAKEN IN PVT LTD COMPANY, BUT THE CONTRACTOR DEDUCTED TDS IN INDIVDUAL/PROPRIETORSIP FIRM. THE INDIVIDUAL IN HIS RETURN HAS NOT OFFERED ANY CONTRACT INCOME AND ALSO NOT CLAIMED THE TDS REFLECTED IN HIS FORM 26AS. AND THE PVT LTD COMPANY HAS OFFERED ALL THE INCOME AND ALSO CLAIMED TDS WHICH IS REFLECTED IN FORM 26AS OF INDIVIDUAL. ASSESSMENT PROCEEDING U/S 143(3) OF PVT LTD COMPANY FOR SAID AY UNDERTAKEN, WHEREIN NO ADDITION WAS MADE AND RETURNED INCOME WAS ACCEPTED. BUT IN COMPUTATION SHEET TDS CREDIT WAS NOT GRANTED AND DEMAND WAS RAISED. IN RETURN OF INCOME OF AY 2017-18, THERE IS NO OPTION TO CLAIM TDS PERTAINING TO OTHER PAN (OPTION OF SELF/OTHER PAN) LIKE THE OPTION AVAILABLE IN RETURN UTILITY OF AY 2020-21 AND 2021-22. PLEASE ADVISE  WHAT STEP IS REQUIRED TO BE TAKEN BY PVT LTD COMPANY, GIVEN THE FACT THAT THE CONTRACTORS ARE NOT IN POSITION TO RECTIFY THERE TDS RETURN?

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The assessee  is a Charitable Trust engaged in running a Primary School  solely for educational purposes. The only income earned is by the way of Tuition Fees from student and Interest income. The assessee trust  had its original return on 19.08.2016. and revised return of income for A.Y. 2016-17 on 26.06.2017, where there were lots of errors and the claims which were incorrect. such as assessee trust has claimed the the trust is registered U/Sec.12AA by quoting incorrect registration number, when the trust was not having registered U/Sec.12AA of the Act. The  AO served notice under section 148  in response to which assessee has filed fresh return on 24.10.2019, claiming deduction u/s 10(23C)(iiiad) of the Act, as the trust exists wholly for educational purposes and not for the purpose of profit. The  AO had not appreciated the return filed u/s 148 by the appellant wherein the appellant had claimed that they are eligible for exemption u/s 10(23)(iiiac) of the Act and had proceeded to treat the cash deposit amounting to Rs. 19,78,125/- as unexplained money u/s 69A of the Act and taxed as per provisions of section 115BBE of the IT Act,1961 passing the order u/s 147 r.w.s 144B of the Act  without appreciating various submissions made by the appellant from time to time. Whether the Action of AO of Passing an order on the basis of return filed u/s 139 of the Act and ignoring the return filed in response to notice u/s 148 of the Act is correct and legally valid. kindly guide.

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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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