CA Rohan Sogani has explained in a comprehensive manner the tax implications of buy-back of shares. He has also opined on whether the provisions of sections 56(2)(x) and 50CA and GAAR apply. The relevant provisions of the Companies Act and the Stamp Act have also been referred. The author has also drawn attention to the important judgements which have a bearing on the issue

CA Sunil Maloo has pointed out that the in the latest Budget session, the Government had tried to cut the wings of stateless Indian Citizen who used to devise means to avoid taxation in India. In the backdrop of this, the Government amended provisions of Section 6 of the Income-tax Act, 1961. However, the same appears to have backfired. The author has highlighted the other side of the coin of the recently introduced deemed residency provisions

Advocate Ajay R. Singh has culled out in a systematic manner the important principles of law emanating from the recent judgement of the Supreme Court in New Delhi Television Ltd vs. DCIT. He has also applied his mind to the applicability of the second proviso to section 147 with respect to an asset or financial interest in a foreign country. He has also considered whether the amendment to section 150(1) to lift the embargo of limitation under section 149 applies prospectively or has retrospective effect

Snehal Kanzarkar, a law student, has explained the amendments brought by the Finance Act 2020 relating to equalization levy. She has also explained the need for the levy, its scope, exceptions and the reforms brought in by the Finance Act 2020. She has delved into the major challenges involved in the implementation of the levy and proposed suggestions for resolution of the issues. The author has argued that equalization levy is a much required reform for prevention of tax-evasion by foreign e-commerce entities. She has, however, suggested that the implementation of the same may be deterred till the challenges posed by COVID-19 are resolved because a majority of the required services are provided online

The recent judgement of the Supreme Court in New Delhi Television Ltd vs. DCIT has laid down important principles of law relating to the reopening of assessments under sections 147 and 148 of the Income-tax Act. Rubal Bansal, Advocate and Company Secretary, has studied the judgement in detail and explained its nuances. She has also summarized the core principles of the judgement in a succinct manner

Advocate Shashi Ashok Bekal has conducted a systematic analysis of the numerous important amendments ushered in by the Finance Act 2020. He has explained in a comprehensive manner the current law, the proposed law, the amendment to the proposed law, and its implications on tax payers and tax man

CA Rohan Sogani has explained in detail the provisions of law relating to conversion of a company into a LLP with particular emphasis on section 43CA and its impact on stock-in-trade held by a Real Estate Developer. He has referred to all the important judgements on the issue. The effect of the Income Computation and Disclosure Standards (ICDS) relating to valuation of inventory has also been explained

Dr. K. Shivaram, Sr. Advocate, and Advocates Aditya Ajgaonkar and Shashi Ashok Bekal, have conducted a detailed analysis of the recent order of the Supreme Court extending suo motu the period of limitation. The learned authors have explained the provisions of Articles 141 and 142 of the Constitution which enabled the Supreme Court to pass the extraordinary and unprecedented order. They have also analyzed whether the said order applies to the Income-tax Act and extends the period of limitation prescribed therein

CA Shivangi Samdhani has explained the problems plaguing the Vivad se Vishwas scheme and why it may not be as successful as is hoped by the Government. She has also compiled a few questions which pose challenges in the interpretation and implementation of the scheme. She has answered the questions and suggested workable solutions

Advocate Shashi Bekal has conducted a holistic analysis of the Vivad se Vishwas scheme in the light of all recent developments. He has also provided a practical guide on how the declaration forms have to be filled and payment made. He has called upon the Government to extend the due date for payment of the tax in view of the prevailing lockdown in the Country. He has argued that the failure to extend the due date will expose the Scheme to serious legal challenge from disgruntled taxpayers