Author: editor

Are We Doing Injustice With Ourselves While Getting Justice For Others?

CA Prarthana Jalan has issued the timely warning that professionals get so obsessed with their professional duties, that they do not even realize that they are neglecting their own well-being and that of their families. She urges everyone to maintain a healthy work-life balance lest we face health and emotional problems later in life

The Law On Taxability Of Loan Waivers Explained

Advocate Sashank Dundu has systematically analyzed all the recent judgements of the Supreme Court and High Courts on the controversial question as to whether benefits arising from waiver of loans constitute a capital or revenue receipt. He has also provided a clear-cut explanation of the interplay between sections 41(1), 28(iv) and 56(2)(x) on the taxability of such benefits

Digest Of 900 Important Judgments On Transfer Pricing, International Tax And Domestic Tax (Jan To March 2018)

Advocate Sunil Moti Lala (assisted by CA Tushar Hathiramani and CA Bhavya Sundesha) has prepared a Digest of 900 important judgments on Transfer pricing (245 cases), International Tax (55 cases) and Domestic Tax (600 cases) pronounced in the period January 2018 to March 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

Section 2(22)(e) Of The Income-tax Act, 1961 – Last Word Yet To Be Said

FCA Prakash Agarwal has analyzed all the recent judgements on the controversial issue as to what is a “shareholder” so as to attract the provisions of section 2(22)(e) of the Income-tax Act relating to taxation of “deemed dividends”. He points out that there is yet no clarity as to whether the expression means a “registered” shareholder or a “beneficial” shareholder. The author has provided his own opinion on the subject as well

E-Assessment: Electronic Communication Of Notices Under The Income-tax Act

CA Vinay Kawdia has explained the legal framework for communication of statutory notices and orders in the electronic format and drawn attention to all the relevant circulars and notifications issued by the CBDT. He has also highlighted the practical consequences of the move to communicate electronically and cautioned that it could expose taxpayers to unwanted harassment

GST Act: Power Of Police To Investigate Offenses

Dr. Ashok Saraf, Senior Advocate, has deliberated upon the important question whether the police has power to investigate cognizable offences under the GST Act, 2017 (both Central as well as State) by taking resort to the provisions of section 4(2)

Recording Of Satisfaction U/s 147 – SOP By CBDT

The CBDT has prescribed a Standard Operating Procedure (SOP) to be followed by AOs while issuing notices u/s 148 of the Income-tax Act, 1961 for reopening of assessments. The SOP is designed to ensure that the AO addresses issues such as ‘change of opinion’, ‘failure to disclose’ etc so as to make the reopening foolproof and immune to challenge by taxpayers. CA Vinay Kawdia has studied the SOP and suggested changes and additions thereto so as to ensure that the objectives of the CBDT are met

Guide To The Prohibition Of Benami Property Transactions Act

Advocate Dr. P. Daniel has conducted a systematic study of the Prohibition of Benami Property Transactions Act, 1988 as amended in 2016. Apart from referring to all the important statury provisions and judicial pronouncements on the subject, the author has answered FAQs which throw light on the precise legal consequences of the enactment

Tagged with:

Penny Stocks: Capital Gains, Law & Practice

Advocate Paras S. Savla has explained the modus operandi used by unscrupulous taxpayers to launder their unaccounted black money with the aid of bogus capital gains from Penny Stocks. He has also explained the relevant statutory provisions and discussed all the important judgements on the point. He has, however, cautioned that all cases of capital gains from penny stocks cannot be branded by the authorities as bogus and offered advice on what precautions taxpayers should take to avoid being wrongly assessed to tax

Tagged with: ,

S. 14A: Exempt Income Versus Expenses For Exempt Income

CA Jyoti Gupta has considered the question whether disallowance u/s 14A can be made in a case where exempt income is earned from stock-in-trade and strategic investments in the context of the recent judgement of the Supreme Court in Maxopp Investment Ltd vs. CIT 91 taxmann.com 154 (SC)

Top

If you are a tax professional, you must sign up for our free newsletter. Why? Because we keep you informed about the latest developments in the world of tax. We focus only on the most important must-read judgements & articles that will impact your day-to-day professional work. You can see a chronological listing of all our postings on twitter & facebook


IMPORTANT: After signing up & clicking on the confirmation mail, send a test/ blank mail to editor@itatonline.info. Why? Because it is the easiest way to add our email address to your address/ contacts book and ensure that our Newsletter does not get sent to the Spam/ Junk folder


Email



Unsubscribe