Capital gain
This query is : Resolved
Mohammad Sharique
(Querist)
06 April 2019
For A.Y. 2012-13 assessee sold out property less than the circle rate, notice issued u/s 148 for levied tax u/s 50c. Please let us know the remedy to assessee and favorable judgment for assessee.
CA PARAS BAFNA
(Expert)
07 April 2019
Once a case is re-opened U/s 147, addition is almost certain.
The best way is to take consultation from an experienced CA and go ahead in proceedings.
If the assessee has not filed any return then by disclosing the true income in the return he may save the assessee from the penalty.
We may request the AO to get valuation from DVO (Department's Valuation Officer) also.
However, the action and situation may differ from case to case.
The best way is to take consultation from an experienced CA and go ahead in proceedings.
If the assessee has not filed any return then by disclosing the true income in the return he may save the assessee from the penalty.
We may request the AO to get valuation from DVO (Department's Valuation Officer) also.
However, the action and situation may differ from case to case.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Movement of goods by packers and movers - type of sale - Reg.
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Missed uploading GST Invoice
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- RCM and same line
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
