Now this new section 148A has shifted the power of enquiry about the legality of reopening from the realm of High Courts to the department and assessee is precluded to challenge the u/s 148 notice now and then like before in the High Courts. As a result most of reopening will fall flat no more by judicial interference and coffer of government will swell definitely.
Apex Court’s landmark judgment in CIT vs Pepsi Foods Ltd reaffirms the Golden Rule of interpretation, striking down Section 254(2-A) as unconstitutional under Article 14 for equality, ensuring fair tax appeal processes.
Interpretation of laws is an indispensible factor for correct application of law. Learn more about Interpretational Anamolies & the impact on Higher Judiciary with this blog post.
Dive into the intriguing world of recession and corporate layoffs. Uncover the interconnected issues of inflation, excessive money printing, and the impact on tech giants and global companies. Explore the challenges faced by economies and financial institutions, shedding light on the ominous signs of an economic downturn.
Explore critical pre-budget concerns for India’s 2023-24 fiscal year. Uncover challenges such as job generation, rural-urban employment disparities, and the impact of automation on job opportunities. Delve into the ailing state of the agricultural sector, highlighting issues like shrinking arable land, youth aversion to farming, and inadequate cold storage infrastructure. Lastly, scrutinize the mismanaged taxation system, addressing repressive indirect taxes and an inefficient direct tax structure. Will the upcoming budget effectively tackle these impending challenges and sustain the nation’s economic stability
Discover the unique features of legal education and taxation. Explore the inherent disparities and differences between law colleges and lower judiciary.
Discover the need for a faceless higher judiciary in the current legal system. Explore the benefits of unbiased assessments and the importance of knowledgeable judges.
Analyzing the errors and shortcomings in the Calcutta High Court order of Swati Bajaj vs PCIT. A critical review on the penny stock controversy and its impact on black money.
Discover why income tax is not as effective as it seems in developing nations. Explore the historical context and impact of income tax policies.
There has been hue and cry over the central government overtures to set up Indian institute of accounting (IIA) in the line of IIT, IIM etc all over the country to such extent so as to finds its stout voices in the floor of parliament. It is quite natural since such proposal seeks to replace […]
