hi,

In the return filed, there is a refund of 2,00,000. However, after assessment in search case, an addition of disputed demand of 8,00,000 including 2,00,000 interest. Later, 6,00,000 is paid on the tax added.

Please issue clarification on the refund in the return filed.

Marriage took place in 2015. Thereafter, due to disputes, divorce of the couple was finalized by the court in September 2019. The court gave jewellary to the girl as per the list finalized by the court. The list of jewellary contains some jewellary given by the relatives of the girl at the time of marriage and some jewellary was given by the bridegroom parents, etc. Now, the girl wants to sell this jewellary and from the amount received from the sale of jewellary wants to purchase the house in a foreign country.

1. I want to know whether the sale of jewellary is liable to long term capital gain keeping in view the base year 2015 by applying indexation.
2. Whether the funds can be utilized for purchase of property outside India and can take benefit u/s 54.
Please guide me.

Assessee having both PAN and TAN filed an appeal before CIT(Appeal) against the order of DCIT u/s.271C in the month of March,2019. Appeal is still pending as on 31st January,2020. Assessee wants to opt VSVS. Please advise how and where information to be given as there is no provision of S.271C in the dropdown list of sections which assessee should select and upload the form.

In the facts of the given case, the Appeal of the assessee company against the Order of ITAT was pending in the High Court (pending as on 31st January, 2020). Now the High Court has allowed the appeal of the assessee setting aside the Order of ITAT and restoring the Appeal of Department for decision afresh [Assessee was successful at the stage of CIT(Appeals)]. Now, the assessee company wants to avail of the DTVsV Scheme so as to give quietus to the issue. What would be the quantum of “Disputed Tax” – 100% or 50% (since, now the pending appeal in ITAT is that of the Department) in terms of Section 3 r.w. the First Proviso of DTVSV Act?? Please advise.

The CIT (A) deleted the said addition. The revenue filed appeal in ITAT about delay of 500 days. As the appeal was filed late by the revenue, to cover the delay, the Assessing Officer reopened the case u/s 148 and made the same addition which was made earlier by the ITO. I am of the opinion if original assessment is pending in appeal, the assessing officer cannot issue notice u/s 147/148 on the same issue and the same addition cannot be made again. Please give your opinion.

Thanking You.

While filled up the Form 1 in Part E tax payment details in the space / box in respect of BSR Code, Date Challan Sr No & Amount I could not enter the data. Though I have alrady deposited some amount before filing the declaration

If we receive a car costing 4000000 in exchange of defective car costing 900000 will the received amount will be treated as gift and will be taxable

Assessee main order is dismissed upto ITAT penalty order dismissed upto cit(A) but pending before ITAT. How much amount the assessee will pay.
If he has not filed appeal against quantum order before High Court
If has filed appeal against quantum order.
Whether is is eligible for penalty amount and if yes at what rate

A corporate assessee wants to opt VsV Scheme.
In its case, certain additions were made in income and certain additions were made in Book Profit.
Finally, tax was charged u/s 115JB being higher than the tax under normal provisions of the Act.
On dismissal of its first appeal, second appeal filed by the assessee is spending before ITAT.

Question
1. on opting Vsv Scheme, whether the assessee has to pay tax on the additions made to normal income plus tax on the additions made in Book Profit.

Thanks Sir

If Original assessment order passed by AO contains a mistake apparent on record in one of the issues/ additions. Can assessee file application under the Vivad Se Vishwas Scheme and simultaneously Rectification Application u/s 154 to the A.O. The time limit for filing rectification has not expired.