An Analysis of Section 45(4) as amended by the Finance Act – 2021 on reconstitution of Partnership Firm
Unsigned show cause notice issued by the AO cannot be held as valid even if the office copy of the notice is duly signed –
Reassessment proceeding need ot be quashed if there is Non disposal of objections prior to issuance of the impugned Show Cause Notice (SCN)
Chartered Accountants Association, Surat has represented to Nirmala Sitharaman for Granting of Breathing Space for Compliance by Stakeholders.
Dear CBDT, Please do something. It’s an harassment to the taxpayers as there is trouble while Login at the Income Tax Portal since last 2 days
Interesting Judgment: Sale deed done one year prior to capital gain but possession by the builder was handed over within one year -Validity of Capital gain exemption u/s 54
Where transaction is found to be a bogus transaction on the basis of subsequent information, it cannot be said to be a disclosure of ‘full’ and ‘true’ facts: Reassessment by AO justified
Courts were expected to ensure that all such legal grounds available to the parties were adjudicated before the proper forum and only after exhausting the statutory remedies, writ petitions were to be entertained
Tax planning by utilising Basic exemption limit against Long Term Capital gain (LTCG) on sale of shares
No penalty for undisclosed income if it is not mandatory to fill details of assets & liabilities in ITR
