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B.m. Chatterji, Senior Advocate

Latest Posts by B.m. Chatterji, Senior Advocate

Anticipating India’s Budget 2024: Expectations and Projections

July 15, 2024 1281 Views 0 comment Print

Explore India’s Budget 2024 expectations and projections, including potential tax relief, increased healthcare and education spending, and measures to boost economic growth.

Conundrum relating to Export of Services under GST Laws

May 7, 2023 2691 Views 0 comment Print

Section 13(8)(b) of the IGST Act read with Section 2(13) and 2(6) to the extent, these provisions seek to levy GST on services provided by the taxpayers to its overseas customers, which are consumed by such customers/ recipients outside India, by fiction of law as created by these provisions are treated as intra-state supply making GST leviable on such export of service, under the CGST Act and MGST Act.

Budget 2023 : Expectations

January 26, 2023 2508 Views 0 comment Print

Anticipate the Budget 2023 with expectations for relaxations in compliance requirements under the Income Tax Act and empowering SEBI to question companies with inflated IPO offer prices. Stay tuned for the last full budget of the current government term.

Section 263- Power of CIT to revise an assessment order being erroneous & prejudicial to interest of Revenue

February 1, 2021 4725 Views 1 comment Print

Understanding the scope of section 263 – Power of Commissioner to revise an assessment order being erroneous and prejudicial to the interest of the Revenue The power of appeal and revision is contained in Chapter XX of the Income Tax Act, 1961 (“the Act”) which includes section 263 that confers suo motu power of revision […]

Faceless Assessment: Concerns & Recommendations for Seamless Digital Integration

November 28, 2020 5817 Views 1 comment Print

On 13th of August, 2020, Hon’ble Prime Minister Shri. Narendra Modi rolled out the scheme of faceless assessment, faceless appeal and tax-payer charter. The scheme for ‘e-assessment’ was already notified in 2019, which has now been modified by amending the original scheme and renamed as ‘faceless assessment’.

Supreme Court urges for a vibrant & ‘redeveloped’ Advance Ruling System

September 22, 2020 1503 Views 0 comment Print

Earlier this month, the Supreme Court adjudicated a 44-year old case pertaining to Finance Year 1975-76, in the case of National Co-Operative Development Corporation (a government corporation set up under the National Development Corporation Act). While concluding, the Court remarked on the present system of tax litigations that the Supreme Court is left ‘to give the final knock-outpunch, being the fifth round of adjudicatory process on this issue itself!’

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