I pitched a flat in a society in 2006 for 50 lacs. In May 2023 , development agreement was signed with developer declaring total society consideration as 9 crores for 10 members. The redeveloper gave possession of flat in Nov 2025 with 30% extra area. I purchased a flat I Under construction in june 2025 which I will get possession in oct 2027. I want to sale the preset flat now. What are CGT implications for me.

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A company which was closed due to pandemic missed filing it’s returns. Now the company wishes to revive and start to function. How to file the pending ITR and ROC filing. Is there any way to avoid penalty. There were zero transactions in the company bank account since last three years.

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How long do High Court cases take to resolve?

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sir, An individual taxpayer has been regularly filing ITR every year, and tax audit reports have also been filed. Recently, the assessee received a notice from the Income Tax Department under Section 131(1A) asking for submission of books of accounts and documents for the past four years. Now assessee want to know: What is the purpose of issuing a notice under Section 131(1A)? Is this notice related to scrutiny assessment, survey, or some other proceeding? What is the procedure after such a notice is issued and received by the assessee?

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Please inform me supporting judgment

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If accounts are maintained on net basis (excluding GST ) and if any gst is outstanding on year end , can there be any disallowance under section 43B considering  the provision of ICDS II, Section 145A. Can a view be taken that since such expenses are not claimed , there can be no disallowance. Can department take a view that GST is part of trading receipt and accordingly outstanding GST is to be disallowed.

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There are two parallel proceedings pending against the assessee for Assessment Year 2018–19: Reassessment proceedings under Section 147, and Penalty proceedings for under-reported income under Section 270A. The assessee has already filed an appeal before the Hon’ble CIT(A) against the reassessment order. However, due to serious health issues, the assessee could not file an appeal against the penalty order issued under Section 270A. I seek guidance from the members on the following points: If the alleged under-reported income is deleted by the Hon’ble CIT(A) in the quantum appeal, will the penalty imposed under Section 270A automatically stand deleted to the extent of the income deleted in appeal? The penalty order was passed after the quantum appeal was filed, but the assessee could not request for keeping the penalty proceedings in abeyance. Will this have any adverse implication? The appeal against the reassessment order is currently at the hearing stage under Section 250. Should the written submission in the quantum appeal also include a reference to the penalty imposed under Section 270A?

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How to file 264 petition u/s 264 through online? There is no drop down menu for this under ‘e file’?

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Mr. X had built a temple on a piece of agricultural land belonging to himself in the year 1931/1932 and continued to run and manage the temple himself during his lifetime. After his demise, his lineal descendants have been running and maintaining the temple till date. In the year 2015 a Trust (Religious) was formed and registered under Sec 12A/12AB of the IT Act,1961. One of the conditions imposed by the Dept at the time of registration was that the land on which the temple was built should be registered in the name of the Trust. Accordingly, the land, measuring 300 sq yards, was registered by way of a gift in the name of the Trust in March 2016. The Trust has been complying with all the requirements of the IT Act and filed its ITRs up to date. The size of the Trust is very small. Its corpus is much less than Rs. 10 Lakhs and its annual income less than Rs.50,000/, coming from the corpus investments. In view of the compliance issues for a small Trust like this, we propose to surrender the 12AB registration. The question now is concerning Sec 115TD implications. The Trust’s assets consist of a small amount of corpus fund invested in specified modes and the land as above that stands in the name of the Trust. There are no other assets. Even the value of the land is not significant because it is situated in a small village. But the problem is if the MMR rate of exit tax is calculated, roughly half of the corpus amount will go towards 115TD tax and the balance amount is not even enough to manage the temple. Now our question is whether the land, on which the temple was constructed way back in the year 1931/32, could be excluded from the list of assets to be considered to determine the fair market value for payment of tax under Sec 115TD. The physical possession of the land was given away several decades ago when the temple was built. The subsequent execution of a registered gift deed to formalize the transfer of land to the newly formed trust is a necessary legal step. This action does not alter the historical fact that the asset was acquired and held for a charitable purpose for decades before the trust’s official registration. Since no registered trust existed during the initial period starting from 1931/32, no income tax exemption under Section 11 or 12 had been claimed or allowed for that land during the period before registration became effective. We wish to add that even after surrendering the registration, the Trust will continue as an unregistered trust and carry on with the same objectives as before. We solicit your valued views with regard to excludability or otherwise of the land for the purpose of determining the fair market value of assets wrt the above section.

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ASSESSEE IS ENGAGED IN BUSINESS OF REAL ESTATE AND HAVE LAND AND BUILDING IN HIS STOCK IN TRADE. HE WANTS TO MAKE GIFT OF A LAND TO HIS FATHER. WILL THIS BE TAXABLE AS BUSINESS INCOME IN THE HANDS OF DONOR ,IF YES, THEN AT WHAT VALUE.

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