CA Sunil Maloo has pointed out that while the CIT(A)’s powers are wide and co-terminus with that of the AO, there are also restrictions on the exercise of those powers. He has explained the law on the subject with reference to important judgements

1. CIT(A) is the first Appellate Authority under the Income Tax Act, 1961 to whom the Assessee can approach if he is aggrieved by the Order of the Assessing Officer. The CIT(A) shall dispose the appeal so filed by exercising his powers u/s 251 of the Act, which reads as under: –

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CA Prarthana Jalan has taken umbrage at the fact that the income-tax department is, in defiance of the law, resorting to “tax terrorism” of innocent taxpayers over frivolous issues with a view to increase collection and meet their own targets. She has pleaded that the department should focus its energies on the big tax evaders and do “surgical strike” upon them rather than harassing innocent taxpayers

DO SURGICAL STRIKE , NOT TAX TERRORISM FOR COLLECTION OF TAX

CBDT- HOWZ THE TAX COLLECTION?

Income Tax Officers- high

CBDT- HOWZ THE TAX COLLECTION?

Income Tax Officers- HIGH

CBDT -HOWZ THE TAX COLLECTION?

Income Tax Officers- HIGH

CBDT- I WANT TO HEAR HIGGGGGGGHHHHHHHHHHHHHHHHHHHH

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Hon’ble Mr. Justice Akil Kureshi, the presiding judge of the Tax Bench in the Bombay High Court, has delivered a lecture on the subject of “What does a judge expect from Junior Advocates” in which he has offered several valuable insights.

The lecture is an inspiration to all young lawyers who desire to excel in the profession.

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Advocate Ashwani Taneja has explained the relevance of the Benami Act and how far the menace of additions under sections 68 and 69 to 69D of the Income-tax Act, 1961 can continue to haunt under the regime of new Benami Law. The learned author has also explained the law in the embedded video

Fundamental Theme

The most complex question which most of us face now-a-days, is if any assets such as share capital, loans, gifts, gold/jewellery, cash, immovable property or an investment/expenditure in any other form is discovered by any investigative agency; then would the same be subject to provisions under section 68 to 69D of the Income-tax Act or would these be attached as benami property by the authorities under the Benami law?

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Advocate Sunil Moti Lala (assisted by CA Bhavya Sundesha) has prepared a Digest of 2000 important judgments on Transfer Pricing (605 cases), International Tax (130 cases) and Domestic Tax (1265 cases) pronounced in the period January 2018 to June 2018. 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 all 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

The Digest comprises of all the important judgements dealing with transfer pricing, international taxes and domestic taxation laws. A brief head note is given for each case. The Digests for the earlier periods are available here

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Advocate Dinkar Parasharam Bhave has explained the entire law relating to ‘Ancestral Property’ in Hindu Law. He has made extensive reference to all the statutory provisions and the important judgements on the point. He has argued that the impact of the law is such that the concept of “joint family property” may soon be relegated to the history of Hindu Personal Law

INTRODUCTION:

Under generally approved and accepted sense, the term “ancestral property” means any property inherited up to four generations (including the holder of the property) of male lineage from the father or father’s father or father’s father’s father i.e. father, grandfather, great grandfather. In other words, property inherited from mother, grandmother, uncle and even brother is not an ancestral property. The essential feature of the “ancestral property” is that if the person inheriting it has sons, grandsons or great-grandsons, they become jointly owners-coparceners with him, and have equal share with the person inheriting. They become entitled to it due to their birth, unlike other forms of inheritance, where inheritance opens only on the death of the owner.

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CA Dev Kumar Kothari has alleged that the Department is behaving in a high-handed manner by issuing statutory notices at a late stage and threatening taxpayers with penalty for non-compliance. He argues that this is not only creating harassment for the taxpayers and professionals but also reflects inefficiencies in the working of the department. He has offered suggestions on how the department can streamline its affairs and achieve its objectives in an efficient manner

Reasonable clear notice:

Reasonable time for preparation of case by taxpayer must be kept in mind while issuing any notice. While fixing time interval between date of notice and date of hearing at least the following factors must be considered by the authority issuing the notice:

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In Maxopp Investment Ltd v/s CIT 402 ITR 640 (SC), the Supreme Court has laid down important law on the interpretation of section 14A and Rule 8D. Advocate Vipul Joshi has conducted a detailed study of the judgement in juxtaposition with the earlier judgements of the apex court in Godrej & Boyce Mfg. Co. Ltd v/s DCIT 394 ITR 449 (SC)] and CIT v/s. Essar Teleholdings Ltd 401 ITR 445 (SC) and explained its precise implications

THE DECISION IN CASE OF MAXOPP INVESTMENT LTD.
[ON SECTION 14A]
– An Analysis
–VIPUL B. JOSHI
ADVOCATE
{Note: The underline and the bold font, whenever used, are for emphasis purpose only}

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Advocate Narayan Jain has explained the entire law and procedure relating to admissions and retractions in income-tax proceedings. He has explained the extent to which the admissions are binding on the taxpayers. He has also explained the procedure by which taxpayers can retract from their admissions. All the important case laws on the subject have been referred to with a succinct commentary on their applicability

1.0 Introduction:

As in judicial proceedings in Courts, the issues in the income-tax proceedings are also decided on the basis of evidences which include both oral and documentary evidences. Oral evidences, include statements which are made before the income-tax authorities in relation to matter of inquiry, Search and Survey proceedings and may also include examination of the assessee or related parties.

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