Notice under section 148 was issued on 22 March 2017 which mentioned that return of income needs to filed within 30 days. However ROI pursuant to notice under section 148 was filed on 15 December 2017 i.e., after the due date mentioned in 148 notice. Order was passed under section 143(3) read with section 147 of the Act. Is it still mandatory to issue notice under section 143(2) even if the ROI was filed beyond the time limit provided in notice under section 148?

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M/S. ABC is partnership firm, having 4 partners. As per retirement deed executed on 31.03.22, two partners retire from the firm w.e.f.1.04.2022. As on the date of retirement these two partners were debit balalce in the firm. Firm is continued by the continuing partners and writoff the amount due from the retirng partner and claimed as expenditure. 1. Whether firm can claimed this As expenditure? 2. Whether any tax liability in the hands of firm ? 3. Tax implication in the hands of partner ? Whether they are liable to pay tax on amount payable by them to firm?

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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 adverse inference is drawn. Even though as per assessment order the gross receiots are taxable under MMR as per intimation USec. 143(1) . 1. Whether PCIT is legally correct in issuing Notice U/Sec. 263 2. Whether assessee must file an appeal against 143(1)(a) also. 3. Are there any decisions which support assessee contention that once order passed U/Sec. 143(3) is appeal by the assesee and is pending before CIT A , pCIT can not issue Notice U/sec. 263. Pl guide .

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The Trust derives income of 2Lakh from immovable property rent only and part of the funds are donated to national causes. No exemption from I.T Comm. had been taken as of yet. Members has no share of undetermined or determined funds. In fact the working is voluntary. Why CPC applied sec 167 and demand surcharge of 37% total of 42%. Grievance was file to CPC stating no funds share either determined or undetermined was with the members. AY 2021-22 & 2022-23 CPC levied surcharge levied at 37% What to do as to give CPC reply and how the surcharge is eliminated.  

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An assessee purchased a builiding in 2002 an made certain improvements thereafter . The building was old and was demolished in 2021. The assessee is now selling the land. What shall be cost of acquisition for tax purpose the cost of building and improvement the value of land only

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The issue relates to A. Y. 2021-22 which was Covid-2019 pandemic period.  The education institution incurred loss of Rs.2.89 Cr. for the reason that the fees from student reduced substantially while the expenditure on salary allowances continued as usual.  The accumulation u/s.11(2) for A.Y. 2015-16 and 2016-17 was utilised to set off the loss arising due to peculiar circumstances.  The deemed income u/s. 11(3) to the extent of Rs.2.89 Cr. was considered in the computation of income.  The net result of computation was Nil.  My question is whether the  loss can be adjusted from the deemed income u/s. 11(3).

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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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I am a person having only Agricultural Income. I have a TCS credit of Rs 1,00,000/-. But I could not file the return before the due date or extended due date. Is there any possibility to get the delay be condoned and the refund of the TCS Credit

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My Great Grandfather property in Matunga, Mumbai was send to redevelopment in 2007 and my father got one flat of 1BHK including Extra FSI as a land lord in 2023. Now, We want to sell that flat immediately, What will be Tax Implications? Can we get Deduction in Sec 54, 54EC and Sec 54F? Will there be Index Cost of Acquisition? If yes how can we compute same?

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hi every one the assessee is a trader and supplies live stock (buffalo cattle) to the various meat factories. the sales are confirmed by the respective customers and payments are also received in bank account, but cash withdrawn from the bank account for making the payments to the respective suppliers (farmers/producers) in cash, because all the purchases are made from the farmers/producers of buffalo and the payment has to be made in cash. this cash purchase is allowed as per the conditions of Rule 6DD and section 40B. now the assessing officer is doubting about the purchase. now i need some case laws in favour of the assessee, where the sales are confirmed but purchases are in cash and not from any registered person. thanking you  

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