Income Tax : Learn how to read tax judgements like a pro. Get tips and advice for navigating complex legal documents and understanding their co...
Income Tax : Understanding the need for a Direct Tax Code - Part II. Explore the conceptual framework of this crucial legislation....
Income Tax : Explore the need for a Direct Tax Code in India. Discover the reasons behind the call for a complete replacement of the Income Tax...
Income Tax : Author, in this article, analyses a supreme Court decision in the case of Northern Operating system dated 19-May-2022 which has un...
Income Tax : It is a routine practice that Pharmaceutical and health sector companies provide freebies such as hospitality, conference fees, go...
Income Tax : The decision relates to deductibility of excise duty u/s 43B of the Income Tax Act, 1961. Section 43-B requires cumulative existen...
Income Tax : Background It is a matter relating to validity of re-opening of assessment on a technical ground in the case of Mayurbhai Mangalda...
Income Tax : A reader should be able to come to his / her own conclusion by applying the legislative enactments and judicial pronouncements to ...
Income Tax : The power to charge fees under the provisions of section 234E of the Act while processing the TDS statements, was dwelled upon by ...
Income Tax : The critical question before special bench: Whether, on the facts and in the circumstances of the case, no arm’s length rate of ...
Author in this article discusses the recent judgement relating to contempt of court against Adv. Prashant Bhushanand the relatively less discussed related aspect namely freedom [or absence thereof] of expression to judges.
Objective The Author in this article, discusses inheritance tax being the tool to tide over the covid-19 phenomenon Background a) In view of the outbreak of Covid-19, various state Governments are struggling to even pay salaries of their staff. Central Government is no exception for the same. It is a consequence of multiple things which […]
Author in this article makes available relevant material so as to enable the reader analyse the impact of the Taxation Laws (Amendment) Act, 2019 which sets to replace the Taxation Laws (Amendment) Ordinance, 2019.
Author in this article discusses proposed taxation regime by CBDT on Profit attribution to a PE in India and recommendations thereon. It is definitely a welcome step as it will reduce the quantum of litigation.
What will be the impact of section 145A [as substituted] on the computation of taxable income of the bank whether for FY 2017-18 or FY 2016-17 or even for the earlier year(s)?
The author discusses that recent amendment by Finance Act, 2018 to section 50C of allowing 5% deviation may be curative in nature and hence there is a case that the same may be treated as having a retrospective effect from the date on which section 50C came into force i.e. 1-4-2003. IT will reduce burden […]
A company is eligible for a non-export incentive. It has during FY 2017-18, complied with the criteria of reasonable certainty for receiving a non-export incentive. The company the same in books as per accounting standards.
Academy of Medical Sciences Vs. CIT (Kerala High Court) Background Chapter XVII-B of the Income Tax Act, 1961 deals with deduction and collection of tax at source [with-holding tax]. This chapter is sub survient to section 4 i.e. charging section of the Act. Section 40(a)(ia) deals with dis-allowance of a portion of expenditure[ which is […]
In general, it is observed that many laws are written, arranged and designed in a way that makes them hard for common man to understand. The same is true for various contracts which are used in day to day life e.g. insurance contracts. USA Government has passed a law namely the Plain Writing Act of […]
The decision relates to deductibility of excise duty u/s 43B of the Income Tax Act, 1961. Section 43-B requires cumulative existence of following; The deduction claimed by the Assessee must be otherwise allowable under the other provisions of the Act.
