Assessments which have already attained finality and do not get abated have to be assessed on the basis of the incriminating material found during the course of search.
Long Term or Short Term: Assessee was in possession of concerned property much prior to execution of agreement to sale
How to check whether person is filing Income Tax Return or not : Compliance Check for Section 206AB & 206CCA
Finance Ministry clarifies on fake news in the media Of alleged black money held by Indians in Switzerland
Finance Ministry interaction with tax professionals, other stakeholders and Infosys on issues in new Income Tax Portal
GST: Services of sale presentation of the products of overseas companies is classifiable as “Other professional, technical and business services”
CBDT issued Circular No. 11/2020 dated 21.6.2021 on Section 206AB and 206CCA providing functionality to identify “Specified Person”.
If Cash inflow statement prepared by assessee shows availability of sufficient cash with assessee at the time when the jewellery was purchased then Income tax authorities are not justified in ignoring the relevant statement
Land & Building Sale: If the price of two capital assets has been charged as one consolidated figure the assessee is entitled to bifurcate the same.
No addition could be made in case of concluded assessments and non abated assessments in absence of incriminating material discovered during search.
Why do we Need New Portal when the Old Portal was already doing extremely well? Why so much trial & error on the taxpayers?
