Year: 2014

Section 14A And Rule 8D enjoy the dubious distinction of being amongst the most contentious provisions in the Income-tax Act, 1961. There is a bewildering deluge of judgements from various Courts and Tribunals. The authors have done the admirable task of cataloging all the important judgements under their respective propositions in an easy-to-retrieve format

The action of the Maharashtra VAT department of branding several dealers as “Hawala dealers” has led the Income-tax department to treat purchases worth several hundreds of crores as “bogus” and assess the same as undisclosed income u/s 68. The author has carefully examined the legal provisions, put the entire issue in its proper perspective and offered practical suggestions on how assessees can safeguard their interests

The author, an eminent Senior Advocate and tax expert, candidly concedes that the non-transparent Collegium system has its defects because while a few persons of sterling character and ability have been left out from consideration, a few persons of dubious character have been appointed Judges. However, he argues that these defects can be rectified and there is no justification for compromising with the independence of the judiciary

A recent verdict of the Authority of Advance Rulings (AAR) has created a controversy over the role of a Protocol in interpreting Tax Treaties, in the context of the “Most Favoured Nation” (MFN) clause. The author has conducted a careful analysis of the judgement, explained its implications and provided valauable guidance on the way forward

Section 14A and Rule 8D, which disallow expenditure incurred in respect of tax-free income, have been a major bone of contention between the taxpayers and the income-tax department. There are a number of conflicting judgements on the issue. The author has carefully analyzed all the recent important judgements on the issue, identified their core ratio, and provided valuable guidance on the present state of the law

Solicitor General Mohan Parasaran, who is highly regarded for his legal acumen, court craft and ice-cool temperament, has, on the eve of his resignation from the post, spoken his heart out on the ills plaguing the Country and what can be done to salvage the situation

Analysis Of Two Important Judgements (Jan – March 2014) CA Anant N. Pai No practitioner can afford to be unaware of the latest judgements & whether experts view the judgement as being right or wrong. Towards that end, the author …

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The Right to Information Act, 2005 is a potent tool for tax payers to find solutions to their everyday problems. Unfortunately, most taxpayers & tax professionals have not understood the scope and potential of the Act. The author, an eminent and veteran Chartered Accountant, has explained the law in the simplest possible manner and given several practical examples so that all taxpayers can derive full benefit from the RTI law