The violation of the due process prescribed by law, in the back drop of the fundamental rights granted by the constitution of India is a sufficient reason for the invocation of the Writ Jurisdiction of the Jurisdiction High Court by as Assessee. However, the Courts are loath to interfere in the due process of law… (read more)

The violation of the Principles of Natural Justice, in the back drop of the fundamental rights granted by the constitution of India is a sufficient reason for the invocation of the Writ Jurisdiction of the Jurisdiction High Court by as Assessee. However, the Courts are loath to interfere in the due process of law in… (read more)

The new provision of section 12AB of the Act, was introduced vide Finance Act, 2020. The same was made applicable from April 01, 2021. However, on account of the pandemic, the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 was enacted which further postponed the due date several times. Finally, the… (read more)

– Stamp Duty on Release Deed is covered by Article 52 of the Maharashtra Stamp Act, 1958. The same is reproduced as under : 52. Release, that is to say, any instrument (not being an instrument as is provided by section 24) whereby a person renounces a claim upon other person or against any specified… (read more)

The Prosecution proceedings are separate and distinct from assessment proceedings. There is no requirement in the Act that assessment proceedings should be completed before launching of prosecution. Prosecution being the most potent weapon in the fight against the tax evasion, it is required that prosecution should be filed at the earliest. In the case of… (read more)

As per Rule 6F of Income Tax Rules, 1962, the Books of account and other documents to be kept and maintained under section 44AA(3) by persons carrying on certain professions such as every person carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or authorised… (read more)

We presume that the stamp Authorities have accepted the value of House property at Rs 95 lakhs shown in the agreement . Furniture is a personal effects as per the definitions u/s Section 2(14)(ii) of the Income -tax Act , 1961 . If the assessee is able to demonstrate that the furniture sold was used… (read more)