NEERAJ GUPTA
20 November 2010 at 19:28
A notice u/s 143(2) was not received by the Assessee in time. when the 2nd notice sent by the department after time was received by the assessee and the assessee lodge the objection with the Assessing officer. The Assesssing officer invoke sec 281B and freeze the account of the assessee. now whether the assessing officer can invoke sec 281B as it relates to proceedings of Search and if yes than can we file the writ to High Court for stay of demand as the proceedings are invalid because of not comply with the provisions of section 143(2). please advice.
is there any circular of CBDT that if the proceedings are invalid than that should be dropped.
Anonymous
20 November 2010 at 16:50
What are the monetary limits fixed by CBDT to file IInd appeal by the Income Tax department. Please provide the relevant circular / order.
H.M.Patnaik
20 November 2010 at 00:37
Dear Sir,
After going through the reply given by Mr. Ramachandran,I am drawing your attention to a situation where share of impartible estate is registered in the name of co-owner of the building -units wherafter, the developer executes actual construction of the Apartment/ flats and in due course of time handsover possession of the dwelling unitsfor an agreed price which is a indivisible contract. In this case, it is difficult to draw a dividing line between the cost of material utilised in each unit and service charges as envisaged in the indivisible contract.
Pl. advise how treat the agreed consideration,
Anonymous
19 November 2010 at 21:39
Sir, i am confused that a builder is liable for service tax or vat?
For example:- If I am a builder who had completed a apartment having 13 flats + 5 shop. Flats are sold on installments whereas shops are sold directly by agreement to sale/sale deed?
Sri Vijayan.A
19 November 2010 at 16:36
Four brothers bought a plot in Chennai in 1993 for a total value of Rs.16,000/-
Now (2010), it is being sold at Rs.20,00,000/-.
One of co-owners wants to construct a house on his other plot from the said sale proceed (Rs.5,00,000/-)
WILL HE GET EXEMPTION FROM CAPITAL GAIN TAX?
Thnak you in advance
venkatesh Rao
19 November 2010 at 12:50
Sir,
How to file correction quarterly return through NSDL?
Ramsharan
19 November 2010 at 11:48
We have one query regarding Section 50C of Income Tax Act, 1961:
Company A Ltd. entered into an agreement on 31.12.2002 to sell land to Mr. B at Rs. 50 Lacs, which was also stamp valuation of the land. Complete payment was to be made by 31.12.2003 and possession and transfer of land was to be done on that date. But Mr. B died on 30.6.2003 and land could not be transferred on due date. Later on his son made the complete payment and land was transferred to his name on 31.12.2007 for Rs. 50 Lacs. But the stamp valuation on that date was Rs. 1 Crore.
Now Assessing Officer wants to attract Section 50C on the transaction and treat deemed consideration as Rs. 1 Crores. We are of view that there is no fault on part of assessee company and there was no intention to do the transaction below stamp valuation, but company was bound by the agreed amount of Rs. 50 Lacs.
Want to know your opinion on the issue and any case law supporting will be highly appreciated
Nilesh Mehta
18 November 2010 at 19:33
Is Management Development Programes conducted by Management Institutes (approved by AICTE) liable to service tax. If yes, how and if no, why. please clarify.
raja athimoolam
18 November 2010 at 18:54
WHTHER THE INTEREST DERIVED FROM FIXED DEPOSITS MADE BY THE RELIGIOUS INSTITUTION IS EXCEMBTED FROM INCOME TAX ?
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Central Excise Act, 2000 - Section 11A proviso misused
Inspite of general directions from CBEC and the concerned legal fora of the country to avoid petty avoidable litigation, field formations of Central Excise have been misusing proviso to section 11A to extend limitation of one year to five years JUST to harass even SSI units, not obliging the dictates / whims of such Divisional formations of CBEC;
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