Yearly Archive: 2022

Series: Notice u/s 148 recd. What to do Check list: point first : Pls see the date and time of digitally signing of the Ld. AO and digitally granting of approval by the Prescribed Authority. HIGH COURT OF ALLAHABAD decided on SEPTEMBER 8, 2022

Series: Notice u/s 148 recd. What to do Check list: point first : Pls see the date and time of digitally signing of the Ld. AO and digitally granting of approval by the Prescribed Authority. HIGH COURT OF ALLAHABAD decided…
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147, 148, 148 Series, 151, Allahbad high court, In Favour of Assessee

September 26, 2022

Question: Can AO reassessment order frame without considering the objection to the reopening of the assessment under section 147 of the IT Act? HIGH COURT OF ORISSA passed the order on this issue.

Question: Can AO reassessment order frame without considering the objection to the reopening of the assessment under section 147 of the IT Act? HIGH COURT OF ORISSA passed the order on this issue. Kindly click the link Without considering the…
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147, 148, AY 2008-09, In Favour of Assessee, madras High Court

September 19, 2022

Whether remuneration to partner should be first allowed or brought forward business losses should be first set off? Ahmedabad tribunal decided the issue is very useful.

“We have given a thoughtful consideration to the orders of the authorities below qua the issue. The book profit has been defined in Explanation 3 below section 40(b) of the Act and the same reads asunder:- “Explanation-3 – For the…
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32(2), 72, 75, Ahmedabad Tribunal, AY 2005-06, In Favour of Assessee, Section 32

September 14, 2022

Question: Whether penalty imposed under section 270A is to quashed when AO as well as assessee has used the same details to arrive at different conclusions i.e. differing quantum of disallowances under section 14A of the Act. High Court of Delhi decided on this issue on May 31, 2022.

Question: Whether penalty imposed under section 270A is to quashed when AO as well as assessee has used the same details to arrive at different conclusions i.e. differing quantum of disallowances under section 14A of the Act. High Court of…
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14A, 270AA, AY 2018-19, Delhi, Delhi High Court, In Favour of Assessee

September 14, 2022

WHETHER PERSON(S) WANTS TO DEVELOP HIS OWN LAND SHOULD JOIN HANDS WITH DEVELOPER BY ENTERING INTO JOINT DEVELOPMENT AGREEMENT OR ENTER INTO PARTNERSHIP OR ASSOCIATION OF PERSONS OR BODY OF INDIVIDUALS AS PARTHER OR MEMBER BY TRANSFER OF LAND AS CAPITAL CONTRIBUTION?

WHERE PERSON(S) HAVING LAND WANTS TO JOIN HANDS WITH DEVELOPER ON OR AFTER 01.04.2018 FCA B.P. Mundra and Advocate Atharv Mundra Key words: Section 45(5A), Section 43(3), Joint Development Agreement, JDA, Capital gains, Capital gains to land owner, entered…
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August 18, 2022

Q Can condonation of delay in filing appeal be acceded without a written request? The Hon’ble ITAT, Agra passed the order in the similar circumstances in the case of Netra Pal Singh v. Asstt. CIT on dated 23 April 2003 vide IT(SS)A No. 89/Del/1997 Block period 1985-86 to 1995-96

Q Can condonation of delay in filing appeal be acceded without a written request? The Hon’ble ITAT, Agra passed the order in the similar circumstances in the case of Netra Pal Singh v. Asstt. CIT on dated 23 April 2003…
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253(3), 253(3) proviso, AY 1992-93, In favour of Revenue, ITAT Agra

August 10, 2022

Question: Consequences on deduction claimed under section 80-IB (7) of the act when the assessee not furnished return of income before the due date specified under section 139(1) of the act? Another question is what is the remedy for late filing of the return and to get the deduction claimed under section 80-IB (7) of the act? ITAT BANGALORE decided in the case of Hyagreeva Hotels & Resorts (P) Ltd. v. Dy. CIT on 18 July, 2022.

Question: Consequences on deduction claimed under section 80-IB (7) of the act when the assessee not furnished return of income before the due date specified under section 139(1) of the act? Another question is what is the remedy for late…
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119(2B), 80AC, 80IB(7)

Consequences of not filing Form 10B electronically. Whether benefit of exemption under sections 11 and 12 shall be available to the assessee in respect of income derived? Another question is what to do in such circumstances? ITAT, AHMEDABAD BENCH ITA No. 355 & 356/AHD/2021 decided on the issue of dated 15 July, 2022 in the case of Ambica Sarvajnik Trust Anklav v. Dy. CIT (CPC). Kindly click the link to get the answer and full decision.

Consequences of not filing Form 10B electronically. Whether benefit of exemption under sections 11 and 12 shall be available to the assessee in respect of income derived? Another question is what to do in such circumstances? ITAT, AHMEDABAD BENCH ITA…
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ITAT DELHI “SMC” BENCH Pronouncement the order on 27.5.2022 in the case of Bharat Bhushan Jain Vs. ITO.

Question: Whether section 50C applies on sale of lease hold property? Answer: No. As section 50C applies only to a capital asst, being land or building or both, it cannot be made applicable to lease rights in a land. As…
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50C, 69, 69A-Unexplained money, AY 2016-17, Decisions, Delhi, Delhi Tribunal, In Favour of Assessee

हाई कोर्ट ऑफ मद्रास ने 2 अगस्त 2017 को फैसला देते हुए कहा कि अगर कोई एग्रीकल्चर लैंड धारा 2(1A) के अनुसार एग्रीकल्चर लैंड है यदि आयकर दाता ने उसकी एजुकेशन इनकम नहीं बताई है लेकिन उसपर खेती के प्रूफ मौजूद है तो उस पर आयकर नहीं लगेगा कारण की धारा 2(14) में कैपिटल एसेट में एग्रीकल्चर लैंड नहीं आती

हाई कोर्ट ऑफ मद्रास ने 2 अगस्त 2017 को फैसला देते हुए कहा कि अगर कोई एग्रीकल्चर लैंड धारा 2(1A) के अनुसार एग्रीकल्चर लैंड है यदि आयकर दाता ने उसकी एजुकेशन इनकम नहीं बताई है लेकिन उसपर खेती के प्रूफ…
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Cases Income tax