"Acelegal is a research based law firm specializing in tax and property laws. The firm has been handling assortment of issues relating to Direct and Indirect tax laws with real estate transactions at the heart of functions. It deal with plethora of issues in tax and real estate matters ranging from documentation of deals to structuring of real estate deals with focusing on reducing the transaction costs. The litigation department of the firm handles representation before various courts like authorities, Tribunal, Mumbai High Court, RERA, NCLT, DRT, Settlement Commission and other such forums."
In this article, author seeks to bring about a comparative study of admissibility of electronic and digital records in both these statutes and opines with whether BSB has been successful in its aim.
Explore the amended provisions of reassessment in response to search survey by the Income Tax Department. Learn how to navigate notices under section 148, the exceptions provided in Explanation-2, and the implications for taxpayers. Stay informed with expert insights. Source: Income Tax Act 1961, Amendments, Legal Analysis.
The amendment to section 45(4) of the Income Tax Act, 1961 can cause more issues than solved. Learn about its applicability to a Real Estate Developer Firm here!
Mumbai ITAT has quashed reopening of assessment under section 147 made by AO only on the basis of information received from report of investigation wing.
Unraveling the complexities of GST on real estate sector. Explore the issues and implications of the recent amendments to GST regulations.
Ashtnidhi Developers Vs National Faceless Assessment Centre Delhi (Bombay High Court) If NFAC is a party respondent, the cause title will state NFAC c/o. concerned Principal Commissioner of Income Tax and that Principal Commissioner of Income Tax shall accept service on behalf of NFAC. FULL TEXT OF THE JUDGMENT/ORDER OF BOMBAY HIGH COURT 1] Ms […]
Introduction: The Apex Court had in the case of GKN Driveshafts (259 ITR 19) laid down the procedure to be followed in all cases where the back assessments of a person are opened by the Income Tax Authorities. The said decision recognised the right of a person to seek: a) a copy of the “satisfaction’ […]
Introduction: The government’s intention to reduce the interaction between assessee and the department and leaps in technology evolved the concept of “faceless assessment”. Now technology is the vehicle which is used to carry out the assessment proceedings which were otherwise physical/manual in nature. The process of filing the submissions has changed from manual to online […]
Introduction: In a recent decision of Dinesh Humane and another vs. Piramal Estate Pvt. Ltd. the RERA Tribunal, Maharashtra has passed an interesting order highlighting the difference between a “reservation letter”, a “booking form” filled by the buyer for the flat and the formal “Agreement for sale” of the flat. The said decision is bound to bring […]
The Service tax authorities have recently issued a spate of SCNs for the FY 2015-16 to June 2017. Most of these notices are worded same and seems to be a template issued by someone from the ministry. The said SCN are purportedly issued under section 73(1) of the Finance Act 1994 alleging “wilful attempt to […]
