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Analysis Of Recent Important Decisions (With Video & Pdf File)

rajan-voraCA Rajan Vora delivered a presentation recently at the BCAS on recent important decisions in which he has analyzed several judgements and explained their nuances. A video of the presentation is available. The presentation is also available for download in pdf format

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Essential Prerequisite For Invoking Section 14A: Satisfaction Of AO

CA Ashish Chadha has analyzed all the recent judgements of the Supreme Court and the High Courts on the topic of how the AO should record his satisfaction before making disallowance u/s 14A of the Income-tax Act, 1961 read with Rule 8D. The author has explained the salient points of the important judgements, some conflicting with each other, in a succinct manner

There have been various controversies surrounding the interpretation and application of Section 14A of the Income-tax Act, 1961 (‘Act’), which have been subject to extensive litigation. The most recurrent and significant issue being that of recording of satisfaction by the Assessing Officer (‘AO’) as to the incorrectness of claim made by an assessee. Recently, there have been various judicial decisions rendered by the High Court(s) and the Supreme Court, whereby much needed clarity has evolved regarding such controversies.

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Detailed Analysis Of Banning Of Unregulated Deposit Schemes Ordinance, 2019

CA Paras Dawar has conducted a detailed analysis of ‘The Banning of Unregulated Deposit Schemes Ordinance, 2019‘ and explained all of its nuances. He has cautioned that while the Ordinance is well-intentioned, some of its provisions are vaguely worded and can have draconian consequences on legitimate business transactions


The Hon’ble President of India, on the aid and advice of the Union Government, on February 21, 2019 has promulgated ‘The Banning of Unregulated Deposit Schemes Ordinance, 2019’ (hereinafter referred to as ‘Ordinance’). While the Union Government called it a landmark law that will help fighting the menace of illicit deposits and Ponzi schemes which loot hard earned money of public, the Ordinance has received a lukewarm reception from the professional community which feels that the law has gone far beyond its mandate and would gravely impact legitimate business transactions.

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Conversion Of Company Into An LLP – Whether Amounts To Transfer U/s 2(47) Giving Rise To Capital Gain?


Shri. S. N. Inamdar, Senior Advocate, has dealt with the controversial topic of whether the conversion of a company into an LLP results in a “transfer” of capital assets and gives rise to capital gains. He has argued that the judgement of the ITAT in ACIT vs. Celerity Power LLP 174 ITD 433 (Mum) is wrong and requires reconsideration. He has made good his submission with a detailed analysis of the statutory provisions and judgements of the High Courts

1. Income Tax Appellate Tribunal, Mumbai Bench-J, in the case of ACIT vs. Celerity Power LLP 174 ITD 433/197 TTJ 45 (Mum) has passed an order dated November 16, 2018 in which Hon. Tribunal has held that the conversion of the company into LLP gives rise to capital gains as there were transfers of capital assets.

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CIT(A)’s Power to Enhance the Assessment – Too Wide but “Too Narrow”

CA Sunil Maloo has pointed out that while the CIT(A)’s powers are wide and co-terminus with that of the AO, there are also restrictions on the exercise of those powers. He has explained the law on the subject with reference to important judgements

1. CIT(A) is the first Appellate Authority under the Income Tax Act, 1961 to whom the Assessee can approach if he is aggrieved by the Order of the Assessing Officer. The CIT(A) shall dispose the appeal so filed by exercising his powers u/s 251 of the Act, which reads as under: –

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Do Surgical Strike, Not Tax Terrorism, For Collection Of Tax

CA Prarthana Jalan has taken umbrage at the fact that the income-tax department is, in defiance of the law, resorting to “tax terrorism” of innocent taxpayers over frivolous issues with a view to increase collection and meet their own targets. She has pleaded that the department should focus its energies on the big tax evaders and do “surgical strike” upon them rather than harassing innocent taxpayers



Income Tax Officers- high


Income Tax Officers- HIGH


Income Tax Officers- HIGH


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How To Be A Good Advocate & Fulfill Expectations Of Courts & Clients: Tax Judge Justice Akil Kureshi Explains

Hon’ble Mr. Justice Akil Kureshi, the presiding judge of the Tax Bench in the Bombay High Court, has delivered a lecture on the subject of “What does a judge expect from Junior Advocates” in which he has offered several valuable insights.

The lecture is an inspiration to all young lawyers who desire to excel in the profession.

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Relevance of Benami Act To The Income-tax Act (With Video Explanation)

Advocate Ashwani Taneja has explained the relevance of the Benami Act and how far the menace of additions under sections 68 and 69 to 69D of the Income-tax Act, 1961 can continue to haunt under the regime of new Benami Law. The learned author has also explained the law in the embedded video

Fundamental Theme

The most complex question which most of us face now-a-days, is if any assets such as share capital, loans, gifts, gold/jewellery, cash, immovable property or an investment/expenditure in any other form is discovered by any investigative agency; then would the same be subject to provisions under section 68 to 69D of the Income-tax Act or would these be attached as benami property by the authorities under the Benami law?

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Digest Of 2000 Important Judgments On Transfer Pricing, International Tax And Domestic Tax (Jan To June 2018)

Advocate Sunil Moti Lala (assisted by CA Bhavya Sundesha) has prepared a Digest of 2000 important judgments on Transfer Pricing (605 cases), International Tax (130 cases) and Domestic Tax (1265 cases) pronounced in the period January 2018 to June 2018. The author has meticulously and systematically classified the judgments into various categories to enable ease of reference. A PDF copy of the Digest is available for download. He has also given the appeal numbers in all cases so as to enable the judgements to be retrieved from the website of the respective Court or Tribunal. The digest will prove invaluable to all practitioners of taxation law

The Digest comprises of all the important judgements dealing with transfer pricing, international taxes and domestic taxation laws. A brief head note is given for each case. The Digests for the earlier periods are available here

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Ancestral Property Concept – Fading Away | तथा वडिलोपार्जित-संपत्ती संकल्पनेचे विलोपन

Advocate Dinkar Parasharam Bhave has explained the entire law relating to ‘Ancestral Property’ in Hindu Law. He has made extensive reference to all the statutory provisions and the important judgements on the point. He has argued that the impact of the law is such that the concept of “joint family property” may soon be relegated to the history of Hindu Personal Law


Under generally approved and accepted sense, the term “ancestral property” means any property inherited up to four generations (including the holder of the property) of male lineage from the father or father’s father or father’s father’s father i.e. father, grandfather, great grandfather. In other words, property inherited from mother, grandmother, uncle and even brother is not an ancestral property. The essential feature of the ancestral property is that if the person inheriting it has sons, grandsons or great-grandsons, they become jointly owners-coparceners with him, and have equal share with the person inheriting. They become entitled to it due to their birth, unlike other forms of inheritance, where inheritance opens only on the death of the owner.

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