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An assessee has not filed the appeal. Now while filing cross objection on appeal filed by the department, the assessee submit an application in Rule 27 of the Appellate Tribunal Rules raising a new ground on which neither any decision rendered by the CIT(A) nor such ground was raised in appeal to CIT(A). The moot question is can the assessee file an application? ITAT Pune decided on 24 June, 2021 in the case DCIT vs Shikshana Prasaraka Mandali. Best Course of action is to file appeal and if there is delay in appeal then file with an application of condonation of delay. Kindly click the link to get full order. FCA bpmundra 9314501680 bpmundra2@gmail.com.

An assessee has not filed the appeal. Now while filing cross objection on appeal filed by the department, the assessee submit an application in Rule 27 of the Appellate Tribunal Rules raising a new ground on which neither any decision rendered by…
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132, 132(4), AY 2005-06, AY 2006-07, AY 2007-08, AY 2008-09, AY 2009-10, AY 2010-11, AY 2011-12, In Favour of Assessee, Pune Tribunal, retraction, Statement

December 25, 2021

Whether excess of expenditure in the earlier years can be adjusted against the income of the subsequent year and whether such adjustment should be treated as application of income in subsequent year for charitable purposes? On this issue Bombay High Court passed the order in the case of Cit vs Institute Of Banking Personnel … on 9 July, 2003 and ITAT Mumbai again confirmed on 1 November, 2021 in the case of Dy Cit Cc-7(1), Mumbai vs Dr. D.Y. Patil International. For Full order kindly click the link. Section 11 to 13 and 11(1)(a)

Whether excess of expenditure in the earlier years can be adjusted against the income of the subsequent year and whether such adjustment should be treated as application of income in subsequent year for charitable purposes? On this issue Bombay High…
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11, 11(1)(a), 11(2), 12, 12A, 12AA, 13, 13(1), 13(1)(b), 13(1)(c), 13(2)(a), Exemption

December 24, 2021

LLP Agreement, LIMITED LIABILITY PARTNERSHIP AGREEMENT (As per Section 23(4) of LLP Act, 2008)-Format

LLP_Agreement

Articles, formalities to be completed, HOW TO, LLP, LLP incorporation, LLP Rules, MCA, MCA

December 24, 2021

consent to be appointed as Statutory Auditor of the Company u/s 139 of the Act-Format

consent of appointment as statutory auditor

appointments, Articles, formalities to be completed, HOW TO, MCA

December 24, 2021

Q.Consequences when the only reason for making and upholding the disallowance of the interest is the statement recorded by the officers of the Department and that too not by the Assessing Officer himself and that too which were not made available to the assessee for cross examination ? The ITAT- Lucknow M/S. Keymen Laminators Private … vs DCIT… passed order on 2 November, 2021. For full order kindly click the link. Section 68, 153A, 133(6)

Q.Consequences when the only reason for making and upholding the disallowance of the interest is the statement recorded by the officers of the Department and that too not by the Assessing Officer himself and that too which were not made…
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133(6), 153A, 68, AY 2014-15, In Favour of Assessee, LUCKNOW ITAT

December 22, 2021

Q.Consequences of issue of penalty u/s 271(1)(c) without mentioning whether the notice is for concealment or the notice for furnishing of inaccurate particulars. ITAT Delhi decided the order on 3.11.2021 in the case of Acit, Central Circle-18, New … vs Inayatali Esmail Soomar, , Delhi. Kindly click the link to get full order.

Q.Consequences of issue of penalty u/s 271(1)(c) without mentioning whether the notice is for concealment or the notice for furnishing of inaccurate particulars. ITAT Delhi decided the order on 3.11.2021 in the case of Acit, Central Circle-18, New … vs…
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271(1)(c), AY 2006-07, Concealment of income, ITAT Delhi

December 22, 2021

Q.Consequences when the Notice u/s 148 issued on amalgamating entity which ceases to exist upon the approved scheme of amalgamation despite informed to the Ld. AO. ITAT Delhi passed the order on this issue on 8 November, 2021. Section 148

Q.Consequences when the Notice u/s 148 issued on amalgamating entity which ceases to exist upon the approved scheme of amalgamation despite informed to the Ld. AO. ITAT Delhi passsed the order on this issue on 8 November, 2021 Answer :-…
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148, AY 2005-06, In Favour of Assessee, ITAT Delhi

December 22, 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 bpmundra2@gmail.com 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