Assessee is engaged in the business of Real estate and claimed the deduction U/Sec. 80IB(10) on the housing projects . AO has disallowed the claim on the ground that assessee has violated the various conditions. CIT A has confirmed the disallowance. On further appeal, Hon’ble ITAT has partly allowed the appeal with certain directions. AO completed the set aside assessment and again disallowed the claim of the assessee on the ground that Department has filed an appeal against the order of ITAT before HC and same is pending  and accordingly assessed the same income again. Whether action of the AO is justified in Law.

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Respected sir, A charitable trust regd u/s 12A failed to file audit report in form 10B before the due date for filing tax audit report. However it filed tax audit report before filing return of income and filed return within due date for filing ITR.    CPC  while processing u/s 143(1) has not allowed the entire expenditure as application of income and treated the gross receipts as taxable income and taxed accordingly.  in the intimation no reason given for the disallowance.  for filing appeal what grounds can be taken and  apart from appeal , any other alternative remedy available . Kindly enlighten.

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Whether extension of time granted by Supreme court is also applicable on Revision petition u/s 264 of Income Tax Act.

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Assessee is LLP engaged in the business of real estate in Maharashtra . The LLP is owner of the land having book value of 10 Cr and said land is shown as stock in trade . Assessee and other 3 parties have decided to form a partnership for development of project on the said land. Assessee will introduced the said land as capital contribution for it book value. Issues : 1. Whether there are any stamp duty implication for introducing the said land at book value as capital contribution in the Firm 2. Whether provisions of SEc. 43CA and Sec. 56(2) will be applicable as the stamp duty value of the said land is 20 Cr. 3. whether any tax implication in the hands of assessee LLP for introducing the land at at book value as per provisions of SEc.45(3) of the Act. pl. guide

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I left my organization Saxo Bank, Gurgaon, Haryana back in June 2021, and they deducted 1.9 L as Notice Period recovery and settled everything in Full and Final Settlement in which I paid them the left over recovery amount. Last month’s salary was not paid, and while I was serving the Notice Period, I paid them the projected Notice Period recovery. In the final F-16 I recieved from them they’ve kept the whole 1.9L as a taxable income, I asked them to correct it. And they asked me to claim it in ITR. When I claim it in the ITR, I get a defective Notice from IT Dept. I have been in contact with Saxo since today morning and they’re saying that it should be taxable, and that the F-16 is correct. I cited the recent ruling of HC Ahmedabad where they mentioned that the actual salary paid can only be taxable. They’re saying that you cannot cite something that happened in Ahmedabad here in Delhi NCR. I have been haggling with them for over an year now, please suggest the options I have. The legal proceedings are so long here in India, that one might even keep waiting for so long you never know.

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Assessee received order u/s 148A(d) for A. Y. 2013-14 and 2014-15 of the Act within the time limit of 30 days from the date of reply given. However, in the said reply, the AO has not considered the detailed objections raised by the the assessee and also not provided all the information and documents relied upon as required by the decision of Hon’ble Court in the case of Ashish Agarwal, tough it is mentioned that same has been provided to the assessee. In the order u/s 148A(d) of the Act, the AO has stated that assessee’s request for copies of documents, statements and opportunity of cross examination of a person etc. will be considered during the assessment proceedings. He has also stated that during the search of person ‘X’, which has resulted in recovery of various ledgers / note books etc. pertaining to his bank account and on the analysis of those papers, indicate that assessee has given cash of Rs. 50,00,000/- to Mr. ‘X’ in the previous years. This indicates assessee was in possession of unexplained cash and which was advanced to Mr. X for further investment and assessee has neither submitted any relevant document to substantiate the claim. The order u/s 148A(d) is dated 28.06.2022 and notice u/s 148 is dated issued on 29.06.2022. In the notice u/s 148 of the Act, for both years  the Ld AO has stated that he has following information in the case of the assessee: a) Information flaged by the Risk Management strategy formulated in this regards b) Information which requires the action in consequence of decision of Hon’ble Apex Court in the case of Ashish Agarwal. This information suggests that the income chargeable to tax has escaped assessment within the meaning of section 147 of the Act and the order u/s 148A(d) is annexed for reference.  The notice u/s 148 is issued with prior approval of PCIT on 23.06.2022. The approval attached is approval of PCIT and is a common approval given to various cases including assessee.  Kindly guide the line of action to be taken by the assessee

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Abcd solutions sdn bhd (ABCD) registered, incorporated  and resident in Malaysia. The shareholders comprising of 4 individuals ( 3 malaysian residents and 1 Indian residents). 3 malaysian residents are also the directors of the company. Xyz the indian reaident shareholder based in India represents the company in meetings with suppliers in India. However the business decisions are made in Malaysia (by the 3 directors) ABCD does not have any employees or place of business in India. ABCD derives 100% commission income from India. Q1 – Based on above facts, does Xyz presence in India create a PE risk in India? Q2 – If yes, what is tax / TDS applicable? Q3 – If yes, then can ABCD get it’s commission in the form of FTS. Whether DTAA benefit be taken? Q4 – Is dividend paid by ABCD to Xyz in India taxable and at what rate?

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A battalion of Special Armed Forces has been given a licence to operate a petroleum outlet. It has obtained PAN in the Government category (4th character of PAN is ‘G’) and then also got GSTIN. My query is whether the said battalion of SAF is required to get its account in relation to its petroleum outlet audited u/s 44AB of the Income Tax Act and whether it is liable to file its return of income in respect of its petrol pump. If the answer is in affirmative, then which ITR will be applicable, and what would be the status and the rate of Income Tax ? If the battalion is not required to comply to section 44AB and not required t pay income tax and file return, then kindly enlighten under which provision it will be so exempt.

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There is a Partnership Firm having three partners.The Net  worth of the Firm is Rs. 100 Crores (considering Market value of Goodwill and Immovable Properties-whereas Net worth as per Books of Accounts is Rs. 50 Crores) as on 31-03-2022. A new Partner is admitted in the Firm  on 1-4-2022 and he is given 25% Share of Profit in the Firm whereas existing partners Share is reduced. New Partner contributes Rs 25 Lacs in Firm as his Capital Contribution.Existing Partners are not given any Stock nor any Immovable Property nor any money over and above the balances appearing in their capital accounts. Query 1-Such Transaction involves any Capital Gain Tax Liability on continuing Partners. 2-The incoming Partner is Liable to tax u/s 56(2)(x) of I.tax Act 1961. 3-The abovesaid arrangement is covered under GAAR Provisions

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Assessee had land in dholera. Dholera has population of 2500 peoples. There is no town within 20 kms from dholera (land of assessee) having a having population more than 10000. The government has recently recognized dholera as residential zone and passed town planning. Q – whether the land of assessee will be considered as agriculture land as population of dholera is less than 10000 and whether sale of said land will be taxable? Q – Or whether due to the status of land being residential zone and under town planning, the sale of given land will be taxable Q – Many income tax assessment order has been passed of assessee living in dholera making capital gain on sale of such land as taxable on the ground that – the area is now under town planning and residential zone. What ground can be taken against the given order?

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