Author: editor

Advocate Sanjiv Shah has explained the entire law on “audi alteram partem” in a simple and clear manner. He has referred to all the important judgements on the topic and highlighted their nuances. He has also clarified the misconceptions that prevail with regard to the legal principles

Dr. K. Shivaram, Senior Advocate, and Mr. Shashi Bekal, Advocate, have explained in meticulous detail the entire law and practice relating to the newly introduced scheme of ‘Faceless Appeals’. The learned authors have also offered valuable suggestions on how the scheme can be improved. They have also prepared a check-list which will enable taxpayers and professionals to derive maximum advantage from the scheme

Advocate Aditya Ajgaonkar has explained the concept of “faceless appeals” proposed to be introduced in the ITAT by the Finance Bill 2021. He has opposed the proposal and argued that it is a serious affront to the independence of the judicial function and a violation of the principles of natural Justice. He has pleaded that the proposal should be reconsidered by the Government

In CIT vs. Shriram Ownership Trust (2020) (122 155), 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

Advocate Shashi Bekal has appreciated the efforts of the CBDT in issuing Circular No. 21 of 2020 and clarifying the several doubts that tax professionals and taxpayers had with regard to The Direct Tax Vivad Se Vishwas Act, 2020. The ld. author has explained the salient points of the Circular in a succinct manner. He has suggested that the CBDT may consider appointing a Centralised Nodal Officer in each city to speedily resolve any incremental difficulties that may arise

CA Mohit Gupta has pointed out that the Income-tax department usually relies on the extrapolation principle in search assessments to make arbitrary additions even for years where no incriminating material has been unearthed. He has considered whether the Department is justified in doing so and explained the entire law on the subject with reference to leading judicial precedents

Advocate Shashi Bekal has explained the salient features of the amendments proposed by the Atmanirbhar Bharat Package 3.0 to the Income-tax Act, 1961 to provide relief to Real Estate Developers and home buyers. He has also considered whether the restrictive nature of the proposed incentive makes it ultra vires the Constitution

CA Sujay Ajgaonkar has systematically set out the details of the stimulus package (Atmanirbhar 3.0) unveiled by the Finance Minister a few days ago. He has detailed how these stimulus measures will boost Employment and revive the Economy