I have transferred some shares to my wife. The income from dividends is offered by me u/s 64 for taxation. However I do not get the benefit of TDS made on those dividends. What steps I am required to take to claim the TDS in my return which is shown in her Form 26AS.

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Post “New Noble Educational Society ‘judgement of SC, what is Reasonable mark up ? Whether section 11 is virtually overridden? Is it at par with now litigation in Transfer pricing ?        

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Hi Team, 1.Agricultural property registered in mothers name by husband out of his own earnings. Now mother died in 2021 without any will/gift. Now father got transferred the same property into his name without any consent/signature from his 2 children i.e one son and one daughter. 2. Is this agricultural land becomes father’s self occupied properties or both Son and daughter have the equal rights as ancestral property as mother died without any gift deed/will? 3. If father wants to prove that this property is purchased from the money that he as earned and hence it is his own self occupied property then what documents to be produced at the court to prove this?

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IS ECL required to be added back for MAT purposes if a company is covered by IND AS ?

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can LTCG on land be set off against LTCL in shares before the date of grandfathering was introduced ?

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when profit as per IND AS is more than one worked out under ICDS which will affect book profit under MAT ?

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Is Maharashtra Project Affected Persons liable to capital gains on alternative flat allotted free?

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whether allowable or not ?

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I have received IT department’s summons under section 131(1A) for AYs 2016-17 and 2017-18 requiring me to disclose my financial interest in 2 foreign accounts that I held at that time, one was a foreign brokerage account and the other was a foreign pension account (IRA). I am still holding the brokerage account. As I was RNOR in both these years, hence I did not disclose my foreign income/assets in the IT returns that I filed for these years. Also, I was a NRI for 9 prior years, which is when I opened these accounts and all the funds deposited in these accounts was from my income as an NRI (there were no funds transferred from India to these accounts). Now these summons are asking me to : a) Disclose my investments and also income accrued year wise from these foreign accounts. b) Provide documents evidencing the date of opening of these accounts. c) Summon also states, “If you hold as a beneficial owner/beneficiary/settlor or otherwise, any asset (including any bank account or financial interest in any entity) located outside India, or have signing authority in any account located outside India, please list details of such assets or account located outside India along with supporting documents. Please note that financial interest includes shareholding, directorship, beneficial ownership or other forms of pecuniary interest, directly or indirectly.” I have the following questions in this regard: 1. Regarding point (a) above, Do I need to disclose my investments/income from these accounts, given that I was RNOR for these assessment years and NRI prior to that? If no, then what should my response be? If yes, then for which years should I disclose this information, since the summons mention ‘year wise’? 2. Regarding point (b) above, Do I need to provide evidence of date of account opening, even though the accounts were opened when I was a NRI? 3. Regarding point (c) above, do I need to disclose my foreign accounts/assets even though I was RNOR for these assessment years and NRI prior to that? If no, then what should my response be? If yes, then what account details should be disclosed and for which year/s, viz, only for assessment years or held in prior years and/or later years? Also, what documents do I need to submit? 4. These summons are for AYs 2016-17 and 2017-18, viz, for time periods that are 7 years ago and 6 years ago respectively. How far back can these summons be issued? Thanks in advance for your help!

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The assessee is a company wherein in the assessment completed u/s 143(3) of the Act for A.Y 2021-22, addition of Rs. 70,00,000/- was made u/s 68 of the Act on account of unaccounted cash loan repayments on the basis of noting on seize papers found during the course of search conducted in the year 2021-2022. The director of the company has accepted the above referred seize paper noting in his personal capacity. However, AO has made an addition of Rs. 70,00,000/- as undisclosed income in the hands of assessee company and similar addition has been made on the protective basis in the hands of the director of the company. The assessee company has received notice u/s 271E for alleged repayment of loans of Rs. 70,00,000/-. Whether the action of the AO of initiating penalty proceedings u/s 271E is justified in law even though there is no mention of such initiation in the assessment order.

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