Month: August 2016

CA Vinay Kawdia points out that the question as to whether penalty is leviable for additions made pursuant to a search depends on various factors such as the date of initiation of search, the statement given u/s 132(4), whether search was conducted before expiry of due date u/s 139(1) for furnishing the return etc. He adds that the newly inserted section 270A/270AA [Penalty for underreporting and misreporting of income] w.e.f. 01.04.17 is a game changer. He has meticulously analyzed the statutory provisions and the judicial precedents on the subject and explained the entire law in a succinct manner

Shri. Sunil Moti Lala, Advocate, has prepared a compilation of 100 important judgements on transfer pricing (42 cases), international tax (8 cases) and domestic tax (50 cases) reported in July, 2016. The author has meticulously and systematically classified the judgements 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

CA Paras Dawar has meticulously analyzed Rule 128 of the Income-tax Rules, 1962 which provides the procedure for grant of Foreign Tax Credit. He has explained all the important aspects of the said Rule in the simplest possible language and also provided practical examples to illustrate the working of the Rule