Deadline for submitting response in e-assessment proceedings is 29.12.2019

Deadline for submitting response in e-assessment proceedings is 29.12.2019.

As per instruction circulated by the Directorate of Income Tax (Systems), the deadline for submitting response in e-assessment proceedings is 29.12.2019.

It has been stated that the facility for electronic submission of documents through “e-proceedings” options in income tax e-filing portal shall be automatically closed on 29.12.2019 for all the assessees.

• Jewellery purportedly received from grandparent under Will added as unexplained credits
• SC lays down tests to determine if a debt is financial debt or operational under IBC
• Commonality of directors of companies does not mean deposits received was bogus
• Application though named as rectification but if tax is not legitimate, it also touches merit: HC
• Cost of acquisition as on 01.04.1981 taken as per valuer report by reverse indexing of FMV