Inder Chand Jain

LETTER to FM – Need to further extend various time limits under Income Tax

Income Tax - Need to further extend various time limits under Income Tax in view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across sectors due to the outbreak of Novel Corona Virus (COVID-19)....

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Surplus consideration received on ‘Surrender of Booking Rights’ tantamount to ‘Capital Gains’

Income Tax - Mukesh Sohanraj Vardhan Vs. ITO (Mumbai ITAT) The ITAT Mumbai has put to rest an important controversy in the case of Mukesh Sohanraj Vardhan vs Income Tax Officer Mumbai decided on 28 August 2020 by holding that the extra consideration received on cancellation of Booking of Flats constitutes a ‘Capital Receipt’ and cannot be taxed a...

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Is Ban on RO Water Purifiers by NGT justified?

Income Tax - In our country drinking RO water is stark necessity for some, essential for many and just a splurge for the others. Most of us use RO water as an abundant caution to protect ourselves from waterborne diseases. It is pertinent that atleast 4 parts of water is needed to produce 1 part of RO water […]...

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Public Records Act 1993 & RTI – Prosecution for loss/misplacement of government files

Income Tax - It is common knowledge that the files in the government departments are often permanently misplaced or lost or deliberately destroyed leading to a lot of problems/ loss for the Government as well as the affected party. Sometimes, the government records are eliminated as a part of larger conspiracy to safeguard the erring officials. The Go...

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Justice Delayed – Justice Crucified

Income Tax - The old legal maxim reads ‘Justice delayed is justice denied’. It means that if legal redressal or equitable relief to an injured party is not available early, it is effectively the same as having no remedy at all. Justice is one of civilisation’s foundational goals. It is therefore imperative for the judiciary to perform it...

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SC teaches Court etiquettes to erring lawyer

Income Tax - Covid pandemic has ushered in a new era and have brought  in new concepts and ways of working in different spheres of life. Our legal system has also undergone a complete change and Video Conferencing Hearings have become the order of the day. The Apex Court and various High Courts are virtually hearing important matters […]...

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Caste system an impediment to choose suitable life partners: Gujarat HC

Income Tax - The origin of caste system in India was based on the vocation of the persons or group of persons. But gradually it embedded deep into the roots of our social system and values in as much the marriages were performed strictly within the caste and sometimes strictly amongst the sub castes. Times have changed and […]...

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SC slams Delhi Government for filling FIR against Doctor- directs for increasing tests & improving conditions in hospitals

Income Tax - Our country has been ruled by the invaders and kings for centuries. As a consequence to this, the present ‘rulers’ have a conviction that the government officials, be them administrative officers or doctors in Government hospitals are meek subordinates to the government without any right to expression, without a heart and with...

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SC to soon decide on exigibility of interest on interest on deferred loans during moratorium

Income Tax - The Reserve Bank of India, in view of the Covid pandemic, realised the financial emergency and liquidity crunch in our economy due to lockdown, announced moratorium for all loans for a certain period. However, there is dispute about the chargeability of interest  by the Banks/ Financial Corporations on this extended period. The business ...

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Wages to workers during lockdown- SC to give verdict on 12 June

Income Tax - On 04 June 2020, a 3 member bench of the Apex Court passed an interim order that no coercive action be taken against employers for their failure to comply with the 29 March 2020 order of the Ministry of Home Affairs (MHA) for payment of full wages to the workers during the Lockdown. The Court […]...

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Surplus consideration received on ‘Surrender of Booking Rights’ tantamount to ‘Capital Gains’

Mukesh Sohanraj Vardhan Vs. ITO (Mumbai ITAT) - Mukesh Sohanraj Vardhan Vs. ITO (Mumbai ITAT) The ITAT Mumbai has put to rest an important controversy in the case of Mukesh Sohanraj Vardhan vs Income Tax Officer Mumbai decided on 28 August 2020 by holding that the extra consideration received on cancellation of Booking of Flats constitutes a ‘...

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SC lays conditions for exercise of power under Article 139A to transfer cases from HC to itself

Sunil Rathee & Ors. vs The State of Haryana & Ors. (Supreme Court) - In a recent judgement dated 23 July, 2020 in the case of Sunil Rathee & Ors. vs The State of Haryana & Ors., the Apex Court had an opportunity to explain the circumstances when cases can be transferred from High Courts to itself under Article 139A of the Constitution of India....

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Non Payment of part Sale Consideration not makes a Sale Deed Void or cancellable: SC

Dahiben Vs Arvindbhai Kalyanji Bhanusali (Gajra)(D) THR LRS & ORS (Supreme Court) - Dahiben Vs Arvindbhai Kalyanji Bhanusali (Gajra)(D) Thr Lrs & Ors (Supreme Court) Non Payment of part of Sale Consideration does not make a Sale Deed ‘Void’ nor constitutes a valid ground for Cancellation The Apex Court in the case of Dahiben vs. Arvindbhai Kalyanji Bhanusali (Gajra)(D) Thr ...

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Where ‘Shravan Kumars’ Gone – Bombay HC Laments on our Social System

Mrs. Rajani B. Somkuwar Versus Ms. Sarita Somkuwar & Anr. (Bombay High Court) - Bombay High  Court in the case of  Mrs. Rajani B. Somkuwar Versus Ms.Sarita Somkuwar & Anr. passed an order on 19th June, 2020 while disposing  a writ petition filed by a 70-year-old mother against her daughter seeking her eviction from the flat they reside in alleging that she tortured her both ...

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SC: Person in whose name vehicle stands registered on date of accident is ‘Owner’ entitled to Insurance Claim

Surendra Kumar Bhilawe vs. New India Assurance Company Limited (Supreme Court) - Surendra Kumar Bhilawe vs. New India Assurance Company Limited (Supreme Court) The Supreme Court in the case of Surendra Kumar Bhilawe vs. The New India Assurance Company Limited  in Civil Appeal no 2632 of 2020 decided recently on 18 June 2020 has held that the person in whose name the motor vehic...

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Inder Chand Jain’s Popular Posts

Recent Posts in "Inder Chand Jain"

LETTER to FM – Need to further extend various time limits under Income Tax

Need to further extend various time limits under Income Tax in view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across sectors due to the outbreak of Novel Corona Virus (COVID-19)....

Read More
Posted Under: Income Tax | ,

Surplus consideration received on ‘Surrender of Booking Rights’ tantamount to ‘Capital Gains’

Mukesh Sohanraj Vardhan Vs. ITO (Mumbai ITAT)

Mukesh Sohanraj Vardhan Vs. ITO (Mumbai ITAT) The ITAT Mumbai has put to rest an important controversy in the case of Mukesh Sohanraj Vardhan vs Income Tax Officer Mumbai decided on 28 August 2020 by holding that the extra consideration received on cancellation of Booking of Flats constitutes a ‘Capital Receipt’ and cannot be taxed a...

Read More

Is Ban on RO Water Purifiers by NGT justified?

In our country drinking RO water is stark necessity for some, essential for many and just a splurge for the others. Most of us use RO water as an abundant caution to protect ourselves from waterborne diseases. It is pertinent that atleast 4 parts of water is needed to produce 1 part of RO water […]...

Read More
Posted Under: Income Tax |

Public Records Act 1993 & RTI – Prosecution for loss/misplacement of government files

It is common knowledge that the files in the government departments are often permanently misplaced or lost or deliberately destroyed leading to a lot of problems/ loss for the Government as well as the affected party. Sometimes, the government records are eliminated as a part of larger conspiracy to safeguard the erring officials. The Go...

Read More
Posted Under: Income Tax |

SC lays conditions for exercise of power under Article 139A to transfer cases from HC to itself

Sunil Rathee & Ors. vs The State of Haryana & Ors. (Supreme Court)

In a recent judgement dated 23 July, 2020 in the case of Sunil Rathee & Ors. vs The State of Haryana & Ors., the Apex Court had an opportunity to explain the circumstances when cases can be transferred from High Courts to itself under Article 139A of the Constitution of India....

Read More

Justice Delayed – Justice Crucified

The old legal maxim reads ‘Justice delayed is justice denied’. It means that if legal redressal or equitable relief to an injured party is not available early, it is effectively the same as having no remedy at all. Justice is one of civilisation’s foundational goals. It is therefore imperative for the judiciary to perform it...

Read More
Posted Under: Income Tax |

Non Payment of part Sale Consideration not makes a Sale Deed Void or cancellable: SC

Dahiben Vs Arvindbhai Kalyanji Bhanusali (Gajra)(D) THR LRS & ORS (Supreme Court)

Dahiben Vs Arvindbhai Kalyanji Bhanusali (Gajra)(D) Thr Lrs & Ors (Supreme Court) Non Payment of part of Sale Consideration does not make a Sale Deed ‘Void’ nor constitutes a valid ground for Cancellation The Apex Court in the case of Dahiben vs. Arvindbhai Kalyanji Bhanusali (Gajra)(D) Thr Lrs decided on July 9, 2020 has categori...

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Only 11 Days for Non Filers to file & Erring Taxpayers to revise ITR for AY 2019-20

With the application of Information Technology, the Income Tax Department has full knowledge of the taxpayers, on a click of a button, not only when they have filed their ITR but also what information, which had direct Nexus to their actual/real income not being disclosed by them. The Ministry of Finance has come out with […]...

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Posted Under: Income Tax |

Beware: IT Department through New Form 26AS has almost all information about your transactions

Beware: IT Department through New Form 26AS has almost all information about your transactions There was a time when the IT department only knew what the taxpayer disclosed in his return of income & whatever was gathered from the scanty books of account produced during the course of assessment. The accounts were maintained manually in...

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Posted Under: Income Tax |

Virtual Hearing- The Perfect Co-alternate for Tomorrow

One thing is sure- the Covid-19 Pandemic, which has plagued the whole world, is not ending soon. Rather it is reappearing in some countries after its extinction. The present pandemonium & chaos would only end if the virus dies on its own or its cure/vaccination is soon developed or there is ‘herd immunity’ amongst the people....

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Posted Under: Income Tax |

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