Month: February 2018

Advocate Sunil Moti Lala, assisted by CA Tushar Hathiramani, has prepared a compilation of 2000 important judgments on transfer pricing (1,200 cases), International Tax (109 cases) and Domestic Tax (691 cases) reported in the period from January to December 2017. The author has meticulously and systematically classified the judgments into various categories to enable ease of reference. The appeal numbers in most cases have been provided so as to enable the judgements to be retrieved from the website of the respective Court or Tribunal. A PDF copy of the digest is available for download. The digest will prove invaluable to all practitioners of taxation law

Four eminent tax experts, being S. E. Dastur, Bansi S. Mehta, Saurabh Soparkar and Dr. Girish Ahuja, have conducted an in-depth analysis of the Finance Bill 2018 and explained all of its important amendments. Advocate Sashank Dundu has meticulously summarized the views of the four experts and highlighted the important aspects. The summary will prove invaluable to all taxpayers and professionals

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CA Mayank Mohanka has argued that it not fair for the income-tax authorities to launch prosection u/s 276B for failure to deposit TDS within time even in cases where the delay is for short periods and there are bona fide reasons for the delay. He pleads that the authorities should focus on wilful and habitual defaulters and spare innocent defaulters

CA Mayank Mohanka has lightheartedly referred to the applying for stay of demand as “going for a valentine’s date” owing to the high potential for rejection. He has referred to all the important CBDT circulars and judgements on the point and explained how the stay application should be drafted so as to minimize chances of rejection by the AO

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The Benami Transactions (Prohibition) Amendment Act 2016 imposes draconian consequences on persons seeking to evade the law by holding property by illegitimate means. However, the hammer of the law, if literally interpreted, also adversely affects innocent persons who enter into genuine transactions. Advocate Deepa Khare has analyzed the statutory provisions in detail and explained how they should be interpreted so that the objective of the legislature is met while avoiding hardship to genuine transactions

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CA Paras Dawar has systematically set out all the amendments proposed to be made to the Direct Tax Laws by the Finance Bill 2018 in a tabular format. He has then compared the amendments with the existing law and explained the precise impact of the proposed amendments. He has also systematically bifurcated the amendments based on whether they have financial implications or make changes in compliance procedures or affect the departmental procedure. The format prepared by the author makes it easy to come to grips with all the changes in one glance

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Advocate Aditya R. Ajgaonkar has pointed out that the aggressive approach of the CBDT with regard to launching prosecution for offenses under the Direct Tax Laws means that all taxpayers and professionals have to be abreast with the provisions in …

Law On Bail, Anticipatory Bail, Discharge And Quashing Of Proceedings Under Direct Taxes Read More »

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CA Dev Kumar Kothari has explained the nuances of the law relating to taxability of unexplained cash credits under section 68 of the Income-tax Act, 1961 in the context of the Negotiable Instruments Act, 1881. He has made copious reference to the statutory provisions and judicial pronouncements on the issue

CA Dev Kumar Kothari has argued that there is a drafting mistake in the Finance Bill 2018 relating to the grant of standard deduction. He has explained what that mistake is and offered suggestions on how it can be rectified

The proposal in the Finance Bill 2018 to reintroduce tax on long-term capital gains on shares has created confusion amongst taxpayers and investors. CA Vyomesh Pathak has analyzed the proposed amendments and explained their implications with reference to practical examples