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NON-RESIDENT INDIAN’S WILL तथा अनिवासी भारतीयाचे इच्छा पत्र
By dinkar parasharam bhave , advocate Bombay High Court : Executive Summary: An elixir of immortality is more philosophical than practicable. No one can have eternal life. So, one has to plan about one’s exit leaving behind all material gains like movable/immovable property to survivors, kith and kin. A citizen of India having chosen to stay abroad for an employment or other purposes may have… Read More ...
Benami Law- Jurisdiction of IO-A perspective
By S,C.Gupta: Plain reading of PBDT indicate that jurisdiction of IO can be conferred u/s 18(2). However, Notifications conferring jurisdiction have been issued u/s 28(2) which pertains to Administrator of confiscated properties. Can this withstand judicial scrutiny.. Read More ...
What is the concept of “month” while computing limitation period under the Custom Act?
By CA Meenakshi Arora: When the period prescribed is three months (as contrasted from 90 days) from a specific date, the said period would expire in the third month on the date corresponding to the date upon which the period starts. As a result, depending on the months, it may mean 90 days or 91 days or 92 days… Read More ...
Admissibility Of Electronic Evidences – Income Tax Proceedings
By CA Rohan Sogani : CA Rohan Sogani has dealt with the important issue whether electronic data/information found in hard disks, pen drives, etc is admissible as evidence for the Income-tax Department to make additions and disallowances. The ld. author has explained the law in the context of the Income-tax Act, 1961, the Information Technology Act, 2000 and the Evidence… Read More ...
Education Cess as a deduction – certain deceptive facets
By Advocate Fenil Bhatt: Much water has flown under the bridge in relation to allowability of education cess as a deduction. We have the benefit of two High Court decisions elucidating as to why education cess can be claimed as a deduction, being the recent decision of the Bombay High Court in the case of Sesa Goa Ltd. vs.… Read More ...
SUMMARY OF KEY FINDINGS AND RECOMMENDATIONS IN THE CAG’S PERFORMANCE AUDIT REPORT ON INCOME TAX SEARCH AND SEIZURE ASSESSMENTS (Report No.14 of 2020)
By CA Mohit Gupta: Search and Seizure is a very powerful tool available with the Income Tax Department to unearth any concealed income or valuables and to check the tendencies of tax evasion thereby mitigating the generation of black money. Authority and power to conduct search and seizure operations is strident and caustic power authorized by law to be… Read More ...
Mutuality under The Income Tax Act – Origin & Development
By Rahul Agarwal & Rishabh Srivastava: This paper seeks to explore the various constituents of the doctrine of mutuality in the context of income tax law. Source: AIFTP Journal September 2020 Read More ...
Scheme For Faceless Assessments And Appeals – Analysis Thereof
By Advocate V. P. Gupta: Advocate V. P. Gupta has explained the scheme of faceless assessments and appeals in a precise manner. He has compared the provisions of the scheme with that prevalent in the USA and pinpointed the advantages and benefits to taxpayers. The ld. author has identified a few issues where clarifications from the Government is desired. He… Read More ...
Demystifying Applicability Of Tax Audit u/s 44AB Of The Income-tax Act, 1961
By CA Rajat Power: CA Rajat Power has pointed out that section 44AB of the income-tax Act, 1961, which provides for tax audit of certain taxpayers, has been amended in the recent past in order to relax the compliance burden on small taxpayers. However, while these amendments are well-intentioned, they have increased confusion amongst taxpayers. The Ld. author has… Read More ...
Admissibility Of Electronic Evidences – Income Tax Proceedings
By CA Rohan Sogani: CA Rohan Sogani has dealt with the important issue whether electronic data/information found in hard disks, pen drives, etc is admissible as evidence for the Income-tax Department to make additions and disallowances. The ld. author has explained the law in the context of the Income-tax Act, 1961, the Information Technology Act, 2000 and the Evidence… Read More ...