Inder Chand Jain

Would Demonetisation eradicate Black Money & Corruption?

Finance - PM Modi demonetised Rs. 1000/- & Rs. 500/- denomination currency notes with a view to eradicating Black money from our economy, end rampant corruption, contain the use of counterfeit & fake currency and to put a full stop on cash funding by our neighbour countries to the terrorist outfits. It is undisputed that the intention [&hel...

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Cashless Economy- Are we ready?

Finance - After Demonetisation, the sole emphasis of the Government is on Cashless Economy or Digital payments. The bold step of demonetisation taken by the PM would become a nullity if the whole country does not adopt cashless transactions. The government wants every citizen to open bank account and use the option of debit cards, credit cards [&he...

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Why IDS 2016 is not clicking?

Finance - Newspapers, periodicals, TV channels are full of advertisements of Income Declaration Scheme 2016. Hoardings, banners, posters and handbills highlight the details of the Scheme. PM, FM and top brass of the Income Tax Department are beckoning people to declare their undisclosed incomes and contribute to the nation's mite. ...

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Doctrine of Clean Hands in Taxation Proceedings

Finance - The doctrine is often stated as those seeking equity must do equity or equity must come with clean hands’. It is settled law that a person who approaches the Court for granting relief, equitable or otherwise, is under a solemn obligation to candidly & correctly disclose all the material/important facts which have bearing on the adjudica...

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Premeditated Orders passed on the same day of hearing to be set aside

Finance - Detailed, Lengthy, Preordained & Premeditated Orders passed on the same day of hearing to be set aside It is a common practice that very lengthy & detailed orders are passed by the Tax Authorities on the same day on which hearing of the case is completed. It is often seen that the cases are heard […]...

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Recent Posts in "Inder Chand Jain"

Would Demonetisation eradicate Black Money & Corruption?

PM Modi demonetised Rs. 1000/- & Rs. 500/- denomination currency notes with a view to eradicating Black money from our economy, end rampant corruption, contain the use of counterfeit & fake currency and to put a full stop on cash funding by our neighbour countries to the terrorist outfits. It is undisputed that the intention [&hel...

Read More
Posted Under: Income Tax | ,

Cashless Economy- Are we ready?

After Demonetisation, the sole emphasis of the Government is on Cashless Economy or Digital payments. The bold step of demonetisation taken by the PM would become a nullity if the whole country does not adopt cashless transactions. The government wants every citizen to open bank account and use the option of debit cards, credit cards [&he...

Read More
Posted Under: Income Tax |

Why IDS 2016 is not clicking?

Newspapers, periodicals, TV channels are full of advertisements of Income Declaration Scheme 2016. Hoardings, banners, posters and handbills highlight the details of the Scheme. PM, FM and top brass of the Income Tax Department are beckoning people to declare their undisclosed incomes and contribute to the nation's mite. ...

Read More
Posted Under: Income Tax |

Doctrine of Clean Hands in Taxation Proceedings

The doctrine is often stated as those seeking equity must do equity or equity must come with clean hands’. It is settled law that a person who approaches the Court for granting relief, equitable or otherwise, is under a solemn obligation to candidly & correctly disclose all the material/important facts which have bearing on the adjudica...

Read More
Posted Under: Income Tax |

Premeditated Orders passed on the same day of hearing to be set aside

Detailed, Lengthy, Preordained & Premeditated Orders passed on the same day of hearing to be set aside It is a common practice that very lengthy & detailed orders are passed by the Tax Authorities on the same day on which hearing of the case is completed. It is often seen that the cases are heard […]...

Read More
Posted Under: Income Tax |

Consistency, Uniformity & Equality in Filing of Appeals against Appellate Orders before Higher Forums

It is often seen that some Appellate orders in Vat/Income Tax/Excise/Service Tax are accepted by the Administrative Authorities while in other SIMILAR matters Appeals are  filed in the Higher Forums i.e. Tribunals/High Courts. Are these arbitrary actions of the Administrative Officials justifiable?...

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Posted Under: Income Tax |

Instruction for ‘Limited Scrutiny’ under CASS are Retrospective

Instruction for ‘Limited Scrutiny’ of cases selected under CASS Retrospective in Nature Most of the cases selected for Scrutiny are through Computer Aided Scrutiny Selection (CASS). Only a particular class of cases such as those involving Search, Survey and Reopening of Assessment etc. come under Compulsory Scrutiny. A small Number of...

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Posted Under: Income Tax | ,

HC on Illegal Detention of Vehicle & Seizure of Goods under Transportation by VAT Authorities

Illegal Detention of Vehicle & Seizure of Goods under Transportation by VAT Authorities – High Court directs for payment of Damages from erring officials to be collected from their personal account to check the arbitrary exercise of power....

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Posted Under: Income Tax |

Abuse of process of law –filing of appeals/revisions by the Tax Authorities in ‘covered’ matters

It has become a custom not to accept decisions of the Appellate Authorities/Tribunals in Tax matters although they are covered by the binding decisions of the Apex Court/ Jurisdictional High Court. Knowing very well that the matters are covered by the binding ‘precedents’, the Tax Department/Revenue have made it a ‘convention’ to ...

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Posted Under: Income Tax |

Harassment of Assessee Intolerable- Warns the Courts

It is usually seen that the Revenue Officers disbelieve the version of the assessees, discard their valid explanations, reject their un-rebuttable evidence, treat the supporting material as fabricated and frame assessments as per their whims and fancies. The action of the erring officers is defended by their higher ups as purported to hav...

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Posted Under: Income Tax | ,
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