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Faceless ITAT – Whether Denial of Oral Hearing is in Violation of Principles of Natural Justice

Ashok-Saraf
By Dr. Ashok Saraf, Sr. Advocate, Guwahati: Natural justice demands that the person who is directly affected by an administrative action should be given prior notice of what is proposed so as to enable him to make a representation on his behalf, to appear at a hearing or enquiry if it is to be held and to meet effectively the points raised.… Read More ...

Liable to Tax – Is it a step forward?

By Ravi Mehta. The author is Managing Director & Head - Transaction Tax at RBSA Advisors LLP.: The amendment of introducing the definition of the term “liable to tax” is well intended. The proposed amendment has wide ramifications. An attempt has been made to highlight the existing issues and the resultant impact of the proposed amendment, therein. Analysis and reference of judicial precedents have been made appropriately. Analysis of the: Meaning of… Read More ...

Amendments in provisions related to Charitable trust and institutions in Finance Bill, 2021.

By CA. Chunauti H. Dholakia: In India, charitable and religious trusts play a vital role in enriching our cultural heritage and in catering educational, medical, socio-economical and religious needs of people. Hence, since the introduction of the Income Tax Act, income derived from property held for charitable or religious purposes always enjoyed exemption from tax net. However, to ensure that… Read More ...

A Few Hidden Time Bombs in that Made in India Tab containing the First Paperless Finance Bill 2021!!

By Mayank Mohanka, FCA, Sr, Partner in M/s S M Mohanka & Associates & Founder Director is M/s TaxAaram India Pvt Ltd: It is being said that, “Beauty lies in Details”, but so does the ‘Devil’. Some of the direct tax proposals & amendments as announced by our beloved FM in her Budget Speech have garnered the limelight of all news channels, like......... But at the same time, a few hidden time bombs have also been incorporated… Read More ...

Nani A. Palkhivala: God’s Gift to India – Savior of The Constitution of India – A Legend & A Role Model To The Tax Professionals

By Dr. K. Shivaram, Senior Advocate: January 16, 2021 marks a memorable day in Indian history, wherein we will be celebrating centenary of Padma Vibhushan Late Dr. N. A. Palkhivala who is widely acknowledged as ‘God’s Gift to India’. Many of us at the ITAT Bar Association (Mumbai), and the All India Federation of Tax Practitioners (AIFTP) were fortunate enough to… Read More ...

Indian Constitution – Relevancy of Judge Made Law

By Dr. M. V. K. Moorthy, Supreme Court Advocate: India is a largest democratic country in the world guided and directed by a written constitution that was adopted in the year 1950 on January 26th. Widely accepted phenomena is that constitution is very vital and inevitable for the well being and welfare oriented state in a democratic setup. Therefore one has to concede the… Read More ...

Nani A. Palkhivala – A True Legend

By Shri Arvind P. Datar, Senior Advocate, Madras High Court : Early years In the 1950s, one advantage of being a part time student in the Government Law College, Bombay was that it used to recruit a distinguished set of part-time teachers who would stray from their legal practice to give morning lectures. Undoubtedly, the most outstanding professor was young Nani Palkhivala. He happily did not… Read More ...

Important Landmark Judgements argued by Padma Vibhushan Dr. N. A. Palkhivala

By Aditya Ajgaonkar, Advocate, Bombay High Court: Shri. N. A. Palkhivala is widely acknowledged to have been known as a great many things to a great many people. For the unsuspecting law student, his name creeps up as a reverential echo out of the many pages of the textbook on constitutional law. He has been known to be publicly called out as… Read More ...

NBFCs: Is there a level playing field yet?

NBFCs: Is there a level playing field yet?
By Yojit Pareek (Partner-Chambers of Jain and Kumar) : This article deals with the growing importance of NBFCs in the credit system. Furhtermore, the article also talks about the longstanding demand of NBFCs to get tax parity with banks. By way of this article, we wish to argue the importance of tax parity in covidian times. Read More ...

Section 50C: Turbulent Safe Harbour!

By Prachi Parekh: The safe harbour limit for section 50C was recently amended by Finance Act 2020, and is presently at 10%. A recent Mumbai Tribunal decision has held the amendment to be curative in nature and therefore retrospective. The article covers the analysis of this and other decisions like these, along with the background of the deeming… Read More ...