Monday, 18 October 2021

Daily digest for Gupta Chandan & Associates, on October 18, 2021

posted: "INCOME TAX : Where AO issued a reopening notice on ground that an information was received that shares sold by assessee were of penny stock, thus, income on sale of said shares could not be allowed as exempt under section 10(38), since such information wa"
posted: "INCOME TAX : Where during scrutiny assessment specific query was raised by Assessing Officer with respect to section 14A and same was appropriately replied by assessee and was accepted by Assessing Officer, reopening of assessment beyond period of four ye"
posted: "COMPANY LAW : Where on death of shareholder of company filing petition under section 397, CLB by impugned order substituted his legal representative in his place and director of company challenged said order by filing frivolous interlocutory applications "
posted: "INCOME TAX : Where assessee owner of a land entered into a JDA for development of its land and offered consideration received for same as LTCG after claiming indexed cost of acquisition of land and Assessing Officer disallowed claim of cost of acquisition"
posted: "INCOME TAX : Where assessee-company filed a writ-petition against reopening notice issued against it on ground that assessee had failed to deduct TDS on certain payment and further reassessment order was passed making disallowance under section 40(a)(ia),"
posted: "INCOME TAX : Section 241A provides for withholding of refunds if Assessing Officer concerned finds that refund will have an adverse affect on revenue; however, where notice for refund was issued and refund was withheld with no reasons given and no demand "

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Daily digest for Gupta Chandan & Associates, on February 23, 2026

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