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Messages - Advocate Anumita

Congratulations sir !!  :)
I don't think there should be any confusion anymore. :)
Discussion / Re: 40(a)(i)(a)
January 30, 2013, 11:14:39 AM
What is your take on this sir? As the view is supported by case laws, i do not have any comment to make as the interpretation given by Mr. Agarwal is convincing. But i am not sure how helpful it would turn out to be for an assessee in litigation before ITAT and C.I.T. (A) till this matter is finally decided.  ::)
Yes sir, i have read your observation in your article and i completely agree with your interpretation. The case laws referred by you are helpful.  :)
But the department can take the benefit of this "interim suspension" of the Special Bench Order ! Then how can an assessee get the relief till the matter is finally decided? In any which way revenue succeeds in taking an interim relief from the AP HC !
A builder sold a flat and received a token amount (say Rs. 10 lac) as advance. The buyer did not buy the flat and the advance money got forfeited. Whether deduction u/s. 80IB (10) would be allowable on such forfeited amount?

Discussion / Re: 40(a)(i)(a)
January 28, 2013, 09:12:50 PM
Dear Mr. Krishnamurthy,

Did you go through the full order passed by AP HC? Would suggest if you would click on the link for your reference.

The Special Bench order that was passed by Vishkhapatnam Bench has become inoperative due to the reason of this grant of "interim stay" by HC. Before the matter reaches its final verdict, this judgment would not have any effect ,as the same cannot be referred as a precedent in any pending litigation (this particular issue) till it is finally decided by the HC.



Discussion / Sec-194C - The Law on TDS
January 24, 2013, 11:30:30 PM
Section 194C was introduced in the Income Tax Act, 1961 w.e.f. 1st April 1972. In a very short span of time, after it's introduction in the Act, Central Board of Direct Taxes issued Circular No. 86 dated 29-5-1972, Circular No. 93 dated 26-9-1972 and Circular No. 108 dated 20-3-1973 regarding the provision.


Law of Taxation and changes incorporated by CBDT (Central Board of Direct Taxes) every year has turned out to be more complex and controversial for each passing years. It is a charging statute and levy of tax is separate on each of the individuals and the levy is governed by the Income Tax Act, 1961. The strategy of Taxation can be broadly classified upon considerations like raising revenue/funds, put a check upon consumption and use of articles. The main source of earning of revenue is by way of application of TDS provisions which is laid down by the statute in Chapter-XVII "COLLECTION & RECOVERY OF TAX".

Principles of natural justice are soul of an administration of justice and need to be adhered to in order to make the order as a just and fair order.The concept of speaking order is the essential part of the principles of natural justice. The principles of natural justice have come to be known as being part of the guarantee contained in Article 14 of our Constitution i.e. "The concept of equality". Violation of a rule of natural justice results in arbitrariness and hence is equivalent to that of discrimination. Therefore, violation of principle of natural justice by a State results into violation of Article 14.

Discussion / Deduction u/s. 43B - Provident Fund & ESI
January 22, 2013, 12:40:04 PM
Allowability of Deduction of payment made on account of Contribution of Provident Fund and E.S.I. -

Every organization is responsible to make correct and timely mandatory deductions towards contribution made on account of Provident Fund, E.S.I and any other statutory obligations, or else are made responsible to for withholding employees' contribution due to failure in remitting these amounts to respective statutory authorities. Consequences, as simple as that –"non-allowability of claim of deduction under Income Tax Act, 1961".

Hence, complying with the timelines as prescribed under the specified Acts is necessary in order to get the entitled benefit under Income Tax Law. Therefore, one needs to be well versed with the latest rules and regulations so as to avoid the unintended non-compliance and consequences thereof under these Acts. These statutory deductions are complex and failure for non-compliance leads to monetary punishments. In a way an organization end up paying hefty amount and efforts for its necessary compliance. 

Decision of Calcutta High Court in the case of Commissioner of Income Tax vs. Virgin Creations

... it is a matter of review

The decision passed by the Hon'ble Calcutta High Court has created a history of providing relief to the "TDS defaulters" in a very short span of time. The legal applicability of retrospective application of amendment to the provision of sec-40 (a) (ia) of the Income Tax Act, 1961 brought in by the Finance Act, 2010 is said to have sorted out by this Hon'ble High court in the case of C.I.T vs. Virgin creations.

Discussion / Desirability of Ethics in Legal Profession
January 22, 2013, 11:05:06 AM
The practice of securing harmonious co-operation between the Bar & the Bench & establishing the promotion of highest standards in fair dealings with ones clients, opponent & witnesses....

"With great power comes great responsibility"... but the question is, how far the proverb stands to be true when compared to the legal profession?