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Respected members

Please enlighten  me regarding the taxability of Sodexo Meal Coupons in the hands of employees.

Thanks

Respected Experts
I've little doubt on 44AD provision.
Is the provision of 44AD assessee based or business based?
i.e. if one person(individual) carries on two or more businesses and all these businesses have gross turnover less than Rs. 6000000 then for application of 44AD will the turnover of each such business be compared with limit of Rs. 6000000 or will the sum of all these turnover be compared with Rs. 6000000?
Hope for prompt reply

Thank you

Respected Experts
If an assessee ,sold a residential property for Rs 50 lacs and he wants to purchase three property on the same amount .
Is he eligible for exemption under section 54 of IT Act ?
Hope for prompt reply
Thank you

Respected members
An assessee is engaged in the business of refining lubricating oil. Whether additional depreciation is allowed in case of purchase of machinery that is used for refining lubrication oil?
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Thank you Sir

If resident  individual  had income of Rs 300000 in the year 2006-07 but he has not disclosed the income .It was detected  in the previous year 2009-10.In this case ,it will be considered to be income of the year 2006-07 ,so slab rate of 2006-07 will be applied .
Am i right ?

Yes 194C will be applicable

Respected experts
On the basis of the information available with I T Dept. case of an assessee has been reopened and At the time of assessment proceedings some undisclosed income of an assessee has been found by AO  however against that Income, there were TDS. After an addition of undisclosed income, though returned income has been increase but after giving the credit of TDS untimately tax payable is NIL.
Now My query is :
Can penalty u/s. 271(1)(C)  be imposed? since tax sought to be evaded is NIL.

Thanks

Respected experts

What is the treatment of live stock ?

Thanks

 sec 194J will be applicable on the payments made to visiting doctors because there is no employer -employee relationship between visiting doctors and hospitals.
The reasoning of my statement is decided in Income tax officer Vs Calcutta Medical research on Ist nov 2009.

The company is situated in industrially backward area and eligible for 80IB deduction. During the year the company has received Insurance claim for goods destroyed in fire. The company has also sold scrap generated through manufacturing process.

Whether these insurance claim received for goods destroyed in fire and Scrap sale generated through manufacturing process is eligilbe for deduction while calculationg Deduction u/s. 80IB,

Please share  case laws with this regards in assessee's favour