CITATIONS & ABBREVIATIONS IN DRAFTING This tip clarifies strives to give clarity on: A) How to read or quote citations; B) How to use abbreviations in the text of a legal document. 1. Citations: A legal citation is the practice of referring to the authoritative documents & sources. It is used for citing a reference […]
In Budget 2022, the government has officially termed digital assets including crypto assets under ‘Virtual Digital Assets’ (VDA’s) comprising of all the cryptos such as Bitcoin, Ethereum etc, and other digital assets such as Non-fungible tokens (NFTs).
Introduction: – The Division Bench of Hon. Rajasthan High Court consisting of Chief Justice Akil kureshi and Justice Sameer Jain. in Sudesh Taneja vs. ITO DB W.P No.969/2022. Order dated 27.01.22 quashed the reassessment notices issued after 31.03.21. Earlier the Ld. Single judge of Hon. Rajasthan HC had quashed reassessment notices u/s 148 of the […]
DRAFTING TIP PRINCIPAL vs. PRINCIPLE Principal and Principle look and sound alike, yet have different meanings. While Principal can be a noun or an adjective, Principle is a noun. PRINCIPAL:- When Principal is used in form of a noun it means:- 1. Main / head person, such as the Principal of a school. (to remember […]
Calcutta High Court Quashes Notices under Section 148 of Income Tax Act, 1961 which were Issued After 31st March 2021 in 1083 cases. Bagaria Properties and Investment Pvt. Ltd. & 1082 Anr. Vs. U.O.I & Ors.
Parag Kishorchandra Shah vs. NFAC W.P. NO.11052 OF 2021 dated 27.10.21 Bombay HC Brief Facts of The Case i) Order dated 20.04.21 passed u/s. 143(3) r.w.s 144B; ii) Assessee had been filing responses to notices u/s 142(1); iii) Last 142(1) issued on 14.02.21 which was replied on 24.02.21; iv) On 17.04.21(Saturday) at 02:43 PM A […]
The Finance Act, 2021 introduced a new set of reassessment proceedings from 01.04.21.The Central Board of Direct Taxes (C.B.D.T) by way of various notifications had extended the time limit of issuing the notice U/s 148 of the Act up to 30th June, 2021. The Income tax department has issued many Section 148 notices for several […]
The Finance Act, 2021 introduced a new set of reassessment proceedings from 01.04.21.The Central Board of Direct Taxes (C.B.D.T) by way of various notifications had extended the time limit of issuing the notice U/s 148 of the Act up to 30th June, 2021. The Income tax department has issued many Section 148 notices for several […]
The Finance Act, 2021 introduced a new set of reassessment proceedings from 1st April 2021.After such substitution, the Old provisions relating to Reassessment, do not survive. The Central Board of Direct Taxes (C.B.D.T) by way of various notifications had extended the time limit of issuing the notice U/s 148 of the Act up to 30th […]
The Finance Bill, 2021 after being passed by the Parliament and getting the assent of the President on 28th March 2021 has become the final law very much in force from 01 April 2021 of which each & every section is legally enforceable and applicable in toto.
