Dr. Rakesh Gupta, FCA, FCS, AICWA, MBA, LLM, PhDEx-Member, Income Tax Appellate TribunalSomil Agarwal, ACA, ACS, ACMA, DISA, LLM (U.K.) RRA TaxIndia, Tax Advisors & Advocates Introduction Taxability of income under the Income Tax Act is dependent, interalia, on...
Dr. Rakesh Gupta, FCA, FCS, AICWA, MBA, LLM, PhDEx-Member, Income Tax Appellate TribunalSomil Agarwal, ACA, ACS, ACMA, DISA, LLM (U.K.) Advocates Introduction Chapter XXI of Income Tax Act, 1961 is replete with penal provisions right from section 270A to section...
Dr. Rakesh Gupta, FCA, FCS, AICWA, MBA, LLM, PhDEx Member, Income Tax Appellate Tribunalrakesh@taxindia.netSomil Agarwal, ACA, ACS, ACMA, DISA, LLM (U.K.)somil@taxindia.net Preface & Introduction Present time may not be the best time to discuss a recently...
Dr. Rakesh Gupta, FCA, FCS, AICWA, MBA, LLM, PhDEx-Member, Income Tax Appellate TribunalSomil Agarwal, ACA, ACS, ACMA, DISA, LLM (U.K.) Advocates Introduction & Background Various actions & proceedings contemplated under the Income Tax Act, 1961 (hereinafter...
Dr. Rakesh Gupta, FCA, FCS, AICWA, MBA, LLM, PhDEx-Member, Income Tax Appellate TribunalSomil Agarwal, ACA, ACS, ACMA, DISA, LLM (U.K.) Advocates Income Tax Appellate Tribunal (hereinafter ‘Tribunal’) passes order on the strength of the power conferred by section...
Question of Law framed: (i) Whether in the facts and circumstances of the case, it can be said that the revenue had a valid reason to believe that undisclosed income had escaped assessment? (ii) Whether the assessee did not disclose fully and truly all material facts...
Shiv Raj Gupta vs. Commissioner of Income-tax CIVIL APPEAL NO. 12044 of 2016 for AY 1995-96 dated JULY 22, 2020 Issues for Consideration:- Whether the Deed of Covenant can be said to contain a restrictive covenant as a result of which payment is made to the appellant,...
Shree Choudhary Transport Co. vs. Income Tax Officer, Civil Appeal No(s). 7865/2009 dated 29.07.2020 Issues for Consideration:- As to whether Section 194C of the Act does not apply to the present case? As to whether disallowance under section 40(a)(ia) of the Act is...
Issue: The subject matter before the bench in the present appeal is to determine whether the appellate authority was justified in law in confirming the denial of exemption claimed by appellant u/s 54F of the Income Tax Act, 1961 and also to interpret liberally the...
CASE NOTE Union of India vs. Exide Industries Ltd. in C.A. No. 3454/2009 Issue: The Apex Court upheld the constitutionality of clause (f) of section 43B of the income tax act, 1961 and has propounded that the deduction would be allowable only on actual payments. ...