Shri Sunil Moti Lala, Advocate has prepared a compilation of 562 important judgments (transfer pricing (375 cases), International Tax (32 cases) and Domestic Tax (155 cases) reported in January to March 2017. 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 some 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
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Month: April 2017
Understanding General Anti-Avoidance Rules (‘GAAR’): Part 2
In Part I, CA Paras Dawar explained the legal aspects of GAAR’s applicability and its consequences. In Part II, he has explained the procedural aspects with respect to the implementation of GAAR with particular reference to the safeguards prescribed by the Shome Committee which curtail the unfettered power of the AO to challenge aggressive tax avoidance arrangements by tax payers
S. 14A: Exempt Income Vs. Expenses For Exempt Income
CA Jyoti Gupta has considered the controversial question as to whether a disallowance under section 14A and Rule 8D can be made in respect of securities which are held by an assessee as stock-in-trade. She has referred to the latest judgements on the issue and explained the issue in the proper perspective
Income Computation And Disclosure Standards (ICDS) – An Update
There have been a spate of amendments to the various Income Computation and Disclosure Standards (ICDS) prescribed by the Central Government under section 145 (2) of the Income-tax Act, 1961. CA Dhaval Desai has systematically analyzed all the ICDS issued up to date and explained their implications in a concise manner
Section 14A: Scope Of Disallowance Explained
CA Dev Kumar Kothari has considered the interesting question whether disallowance under section 14A of the Income-tax Act, 1961 can be made in a case where tax is paid by the assessee by way of dividend distribution tax or securities transaction tax or where shares are bought by him not with a view to earn dividends but to obtain a strategic controlling interest in the Company or to earn capital gains
Understanding General Anti-Avoidance Rules (‘GAAR’): Part 1
The provisions of Chapter X-A of the Income-tax Act, 1961, which prescribe General Anti-Avoidance Rules (‘GAAR’), have been made applicable to all transactions entered into on and from 1st April 2017. The provisions are complicated and are likely to lead to numerous controversies and litigation between the taxpayer and the income-tax department. CA Paras Dawar has explained the salient aspects of the legal provisions in a simple and easy-to-understand format
Tagged with: 1961, CA Paras Dawar, Finance Act 2017, GAAR, General Anti-Avoidance Rules, Income-tax Act
Surgical Strike On Cash Transactions (Analysis Of Sections 269ST & 271DA Of The Income-tax Act, 1961)
The numerous amendments made by the Finance Act 2017 to curb the usage of cash in business transactions has serious implications for taxpayers. CA Jyoti Gupta has conducted a systematic analysis of these provisions with special emphasis on sections 269ST and 271DA and explained all of their nuances
Tagged with: 1961, CA Jyoti Gupta, Cash Transactions, Finance Act 2017, Income-tax Act, sections 269ST and 271DA