Yearly Archive: 2021

Q. What will happen when the revenue seized a documents, which is computer generated loose sheet and found during the search of third party who is neither assessee nor any authorized person of the assessee. The HIGH COURT OF DELHI in the case of PCIT vs. STC DEVELOPER PVT. LTD. Decided on Dec 15, 2021 on similar issue. Section 153C. Search & Seizure.

Q.Section 153C. What will happen when the revenue seized a documents, which is computer generated loose sheet and found during the search of third party who is neither assessee nor any authorized person of the assessee. The HIGH COURT OF…
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153C, Delhi High Court, Delhi Tribunal, In Favour of Assessee, ITAT Delhi

December 22, 2021

Section 40A(3) and 40A(3A) Disallowance of expenditure exceeding Rs. 10,000/- in cash:

B. P. Mundra & Co.‎ Mobile 9314501680, 9314501791‎, 8561948425 Chartered Accountants ‎822 A, Mundra House, Shivaji Nagar, Near Hanuman Temple, Civil Lines, Jaipur‎-302006 Ph.No. (O) 2225110, 2225116, 2224085 [email protected] url bpmundraca.com Dear Sir, Kindly refer to our discussion on Analysis…
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Cases Income tax

December 20, 2021

Q.Can a coparcener seek injunction against the Karta restraining him from dealing with or entering into a transaction from sale of the joint Hindu family property for legal necessity or benefit of the estate. Supreme Court of India decided in the case of Beereddy Dasareatharami Reddy vs V. Manjunath on dated 13 December, 2021

Supreme Court of India Beereddy Dasareatharami Reddy vs V. Manjunath on 13 December, 2021 Q.Can a coparcener seek injunction against the Karta restraining him from dealing with or entering into a transaction from sale of the joint Hindu family property…
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HUF Property, Right of the Karta to execute agreement to sell or sale deed of a joint Hindu family property

December 20, 2021

SFT – Statement of Financial Transaction to be reported to avoid penalty-Section 285BA

SFT – Statement of Financial Transaction-Section 285BA 1.Nature of transaction to be reported:- a)A banking company or Co-operative bank to which Banking Regulation applies:- i.Cash payment purchase of bank drafts or pay orders or banker’s cheque Cash payments for purchase…
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285BA

December 16, 2021

Legal heir:-How to appoint the legal heir and file the ITR of a deceased

Legal heir, Legal heir, Legal heir

December 12, 2021

For incorporation of a LLP we need following documents

LLP incorporation, LLP Rules

December 11, 2021

For Digital signature

B. P. Mundra & Co.‎ Mobile 9314501680, 9314501791‎, 8561948425 Chartered Accountants ‎822 A, Mundra House, Shivaji Nagar, Near Hanuman Temple, Civil Lines, Jaipur‎-302006 Ph.No. (O) 2225110, 2225116, 2224085 [email protected] url bpmundraca.com Dear Sir,‎ For Digital Signature we need following documents/…
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For Digital Signature

December 6, 2021

Can show cause notice be called the draft assessment order. as required under sub clause (xvi) of sub Section (1) of Section 144B?

Shreeji Investment & Advisory Services Vs National Faceless Assessment Centre (Bombay High Court) Appeal Number : Writ Petition (L) No. 13235 of 2021 Date of Judgement/Order : 25/10/2021 Related Assessment Year : Courts : Bombay High Court Can show cause…
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144B, 144B(1), 144B(1)( (xvi), Bobmay High Court, In Favour of Assessee

November 1, 2021

Section 12A and 11. Can application for Registration under section 12A be denied on the ground that the Objects included charitable and religious activities? ITAT, VISHAKHAPATNAM BENCH passed the order in the case of Dhatri Foundation v. CIT on dated 24 March, 2021 in favour of the assessee. For full order kindly click the link.

Section 12A and 11. Can application for Registration under section 12A be denied on the ground that the Objects included charitable and religious activities? ITAT, VISHAKHAPATNAM BENCH passed the order in the case of Dhatri Foundation v. CIT on dated…
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11, 12A

September 27, 2021

Can AO made the addition u/s. 41(l)(a) by holding cessation of liability even when there is litigation in the court? ITAT Mumbai passed the order in the case of Dcit-8(2)(2), Mumbai vs M/S Surbhit Impex Pvt. Ltd., … on 17 September, 2021

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “G” BENCH, MUMBAI [Coram: Pramod Kumar (Vice President) And Saktijit Dey (Judicial Member)] ITA No. 3027/Mum/2019 Assessment Year: 2014-15 Deputy Commissioner of Income Tax, Circle-8(2)(2), Mumbai…. Appellant Vs Surbhit Impex Pvt. Ltd. …..Respondent…
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41(l)(a), cessation of liability, In Favour of Assessee, ITAT Mumbai

September 21, 2021