These articles are uploaded by our esteemed readers. If you would like to publish an article on any legal topic, please use this form to upload it
Clause by clause analysis of provisions of Reassessment under the Income Tax Act, 1961
By Tushar Hemani, Sr. Advocate and Siddharth Hemani, Law Intern: Law on the existing provisions of reopening is to a great extent settled. However with the introduction of completely new provisions, lot of uncertainty is now created amongst tax payers as well as tax administrators. Even Courts are finding it difficult to learn and interpret these new provisions. In this paper, we plan to discuss… Read More ...
Contribution by Charitable Trusts – Current Legal Status in Maharashtra
By CA Anilkumar Shah, caanilshah@gmail.com: There is a confusion prevailing amongst the trusts and professionals regarding the Contribution payable to Hon. Charity Commissioner’s offices especially when the online verification forms generated after uploading annual audited account statements, shows Contribution payable by all the trusts, irrespective of the exemptions available and the stay by Hon. Bombay High Court for collection of… Read More ...
Concept of Beneficial Ownership in the context of Article 13 regarding Capital Gains
By Ashish Chadha: The article evaluates the recent judgment of the Mumbai Tribunal in light of the available jurisdiction of Indian and Foreign Courts on the said issue along with the guidance provided in this regard in the Committee Reports. Read More ...
ON RULE OF CONSISTENCY
By ANADI VARMA: The contest between rule of consistency or stare decisis vs the traditionally accepted principle that res judicata does not apply to income tax proceedings has been a dispute of long standing.Various fora have,on facts of their case and their reading of law have given varying judgments .The article is an attempt to understand the issue,place… Read More ...
Apex Court in UOI vs Ashish Agarwal: The Analysis
By Adv. ABHISHEK ANAND: In the said judgment the Apex court may have accepted the possible view taken by the different High Court’s of the country that the Notice issued u/s 148 after 31st March 2021 is void as per Finance Act, 2021 but at the same time the Court has disregarded the applicability of the said observation- and… Read More ...
Bearing of Human Presence on constitution of a Fixed Place Permanent Establishment in Digital Economy
By Ashish Chadha: The article highlights the relevance of human presence in establishing a fixed place permanent establishment in the modern era digital economy. It includes various foreign court judgments on the said issue and brings to light the discussion in the OECD Model Convention commentary on the same. Read More ...
Can a Certificate issued under CGST Rule 89(2)(m) by a CA, be made a basis, for Arrest u/s 69 read with section 132 of the CGST Act?
By Mayank Mohanka, FCA, Partner S M Mohanka & Associates & Founder Director, TaxAaram India Pvt Ltd: in this article, a sincere and honest attempt has been made to analyse and interpret the real purport of such legislative provisions concerning the invoking the power of arrest u/s 69 read with section 132 of the CGST Act, in the context of issuance of the prescribed Certificate by a Chartered Accountant under Rule 89… Read More ...
Binding nature of CBDT instruction- in the context of instruction in consequence of SC decision on reopening under section 148- Judicial view
By RANO JAIN - B.Com. (H), Ll.B., FCA, DISA(ICA) -EX MEMBER INCOME TAX APPELLATE TRIBUBAL: In the midst of controversy arising before numerous High Courts with respect to the validity of notices under section 148 issued by the department between 01.04.2021 to 30.06.2021, Hon’ble Supreme Court in its power under Article 142 of the constitution, gave certain directions to complete the assessment in such cases in its order in the… Read More ...
Time Travel of Avengers Endgame Visualised in Income Tax Act
By Mayank Mohanka, FCA, Partner S M Mohanka & Associates & Founder Director, TaxAaram India Pvt Ltd: Friends, all of us have seen the Hollywood block buster movie- ‘Avengers Endgame’. In the movie, the Avengers enter the Quantum Realm with the help of Pym Particles, and travel back in time, to prevent Thanos from getting the infinity stones, in order to make good the wrong, which Thanos has done in the past.… Read More ...
Poem on CBDT Instruction: Notices Travelling Back in Time, Triggering Litigation Bells to Chime!!
By Mayank Mohanka, FCA, Partner S M Mohanka & Associates & Founder Director, TaxAaram India Pvt Ltd: In this Poem, the author has critically examined the underlying presumptions of time travel of reassessment notices, second time reliance on TOLA extensions and the perceived applicability of amended limitation period of section 149 of the Income Tax Act, from backdate, even when the Finance Act, 2021 has not come in force, in the CBDT… Read More ...