In CIT vs. Shriram Ownership Trust (2020) (122 taxmann.com 155), the Madras High Court has held that a Respondent in an appeal filed u/s 260A of the Act is not entitled to challenge an adverse finding by the Tribunal. Advocate Sukhsagar Syal has explained the implications of the judgement and argued that it requires reconsideration. He has also offered practical suggestions on what litigants should do to safeguard their interests

The CBDT has issued a clarificatory circular no. 36 or 2016 dt. 25-10-2016 for exempting capital gain on acquisition of non-agricultural lands by the Government. CA Anilkumar Shah has studied the Circular and the law on the subject and explained various important issues arising therefrom

CA Anilkumar Shah has earlier explained the law relating to the taxation of donations to the corpus of a trust which is not registered under sections 12A/AA of the Income-tax Act, 1961. He has now answered queries on the effect of clause (x) to S. 56(2) of the Act on the taxability of corpus donations and also for donations from one trust to the other. A pdf version of the article is available for download