The genesis of this book is an exercise carried out to compile best quality assessment orders passed in each Chief C.I.T region of Gujarat during the Financial Year 2011-12. On analyzing these orders it emerged that majority of additions were relatable to issues pertaining to 19 topics. Therefore it was decided to constitute  an expert committee for providing suggestions and draw guidelines on legal points on various relevant sections of the I.T. Act which would enable the Assessing Officers to frame better quality assessment orders. The committee consisted of 19 officers of the rank of CsIT & Addl. CsIT. / JCIT. Each member was assigned a topic for indepth analysis with the view to guide and help A.Os’ to understand the intricacies of various provisions of law.

The Book Covers the following Topics :-

1.  Understanding Deemed Dividend – Section 2(22)(e)

2.  Exemption under Special Provisions – Sections 10A/10AA/10B

3.  Expenditure Incurred in Relation to Income not included in Total Income – Section 14A

4. Income from House Property

5.  Deduction of Interest Expenses – Section 36(1)(iii) 83

6.  Disallowance on account of Non-deduction of TDS – Section 40(a)(ia)

7.  Expenses or Payments not Deductible under Certain Circumstances – Section 40A

8.  Treatment of Cessation of Liabilities – Section 41

9.  Unfolding the Income from Capital Gain

10.  Capital Gains on Income from Sale of Agricultural Land

11.  Special provision for full value of Consideration – Section 50C

12.  Accommodation entries from fake companies

13.  Handling of cash credits – Section 68

14.  Deduction in respect of profits and gains from certain industrial undertakings – Sections 80IA/80IB

15.  Deduction in respect of Co-operative Societies – Section 80P

16.  Issues pertaining to Minimum Alternate Tax (MAT) – Section 115JB

17.  Rejection of books of Accounts – Section 145(3)  10

18.  Intricacies of making addition on account of low GP

19.  Re-opening of Assessment – Sections 147/148

Download Book titled ‘A STEP AHEAD-2013’ on Controversies in Income Tax Assessment

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0 Comments

  1. vswami says:

    Not having had an opportunity, don’t know much less am in a position to proffer any useful comment, especially from the taxpayers’ view points.

    In this context, however, prefer to pin point that one of the areas of common concern has been re the TDS woes taxpayers have been unwittingly or otherwise confronted with, notably after the CPC was set up and started processing tax returns.

    While this has been an accepted reality and gone into before, what has come to the fore lately and been worrisome by adding to the already existing woes is the newly introduced tds requirement in terms of section 194 IA effected from June 1 . For knowing in some deatails, the write-up posted today may be worth given attention.

  2. akhilesh srivastava says:

    Constitute of Expert committee of IRSs would further complicate Income Tax Act & there will be more litigation in between I.T. Deptt & Assessee.

  3. Savit kumar Rao, F.C.A. says:

    This is a yeoman service not only for the IT Dept. but also for the tax payers, the more it is circulated the more utility can be derived from this humongous exercise. It is my fervent desire that such exercise should be done for all india basis, and tax amendments be guided by its conclusions.
    This is also required specifically in the area of International taxation, where litigation abound.

  4. R Balasubramanian says:

    This 500 page book brought out in-house by the Gujarat based officials of the IT dept is a commendable initiative in knowledge sharing and improving the quality of tax assessments.
    May I suggest that this experience-based publication,though stated to be meant for departmental use,may be shared with the audit fraternity at least,if it cannot be made available in the public domain.
    Thanks TAX GURU for the post.
    Regards.
    R Balasubramanian, Chennai-59.

  5. Sridhara says:

    The Department has brought the book very well and all articles are good..but the articles are based on certain courts of the country…They should believe that there are courts in Southern India and Eastern India where the decisions are very good…The decisions in respect of Section of 14A, 36(1)(viia,(vii) & (viii), MAT not applicability, Transfer pricing, 80I deductions, TDS credits Section 145…are relevant in the current period and are more controversial and more light should have been thrown….Hope some other region Department will bring out and inform how the department treats them while making assessment…

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