Delay in Filing Revised Return Must Be Condoned to Avoid Double Taxation and Unjust Enrichment Delay in Filing Revised Return Must Be Condoned to Avoid Double Taxation and Unjust Enrichment Issue Whether the Principal Chief Commissioner of Income Tax erred in rejecting an application under Section 119(2)(b) seeking condonation of delay to file a belated… Read More »
ITAT Directs AO to Verify Section 54F Exemption Claim Raised for First Time Before DRP ITAT Directs AO to Verify Section 54F Exemption Claim Raised for First Time Before DRP Issue Whether an additional claim for exemption under Section 54F, raised for the first time before the Dispute Resolution Panel (DRP), should be admitted and… Read More »
Reassessment order passed under Section 148A(d) beyond cut-off date is invalid and time-barred. Issue Whether a reassessment order passed under Section 148A(d) on 28.07.2022 under the new regime, following an initial notice issued on 30.06.2021 under the old regime, is time-barred and legally unsustainable as it fell beyond the cut-off date of 01.04.2021 for Assessment… Read More »
Assessee is Entitled to Full Refund of Prepaid Taxes with Statutory Interest in Reassessment Proceedings Issue Whether an assessee who files a return of income in response to a notice under Section 148 is entitled to full credit and refund of prepaid taxes (advance tax and TDS) along with statutory interest under Section 244A, despite… Read More »
Unaccounted cash paid for property by NRI medical professionals is plausible from accumulated cash salaries earned abroad. Issue Whether an addition of ₹30 lakhs under Section 69A (and consequential higher taxation under Section 115BBE) as unexplained money is sustainable when the cash consideration paid for flat booking is adequately supported by the accumulated foreign cash… Read More »
Penalty Under Section 270A Is Unsustainable Once Underlying Assessment Order and FTS Adjustment Are Quashed Penalty Under Section 270A Is Unsustainable Once Underlying Assessment Order and FTS Adjustment Are Quashed Issue Whether a penalty under Section 270A for misreporting of income can be sustained when the underlying assessment order and Fee for Technical Services (FTS)… Read More »
Miscellaneous Application for Rectification Under Section 254 Dismissed as No Error Found in Tribunal Stay Order Issue Whether a Miscellaneous Application under Section 254(2) for rectification can be entertained to direct a refund or impose costs when the assessee points out no mistake apparent from the record in the Tribunal’s original stay order. Facts The… Read More »
In the absence of an FTS clause, Thai company’s technical receipts are non-taxable business profits without an Indian PE. Issue Whether, in the absence of a specific Fees for Technical Services (FTS) clause in the India-Thailand DTAA, payments received by a Thai resident company from Indian group entities for management and technical services can be… Read More »
Direct Tax Laws & International Taxation (DT) | A.Y. 2022-23 | CA FINAL TEXTBOOK Direct Tax Laws & International Taxation CA FINAL TEXTBOOK provides practical application of Direct Tax Laws & International Tax in a holistic approach while testing the analytical skills of the reader. The crux of this book is to strike a perfect… Read More »
Free Book on Aspects of International Taxation — A study (Revised 2016) (Case laws are updated till July, 2016) Download Book on Aspects of International Taxation — A study International Taxation due to its dynamic and ever changing nature has always been a complex subject not only to study but to practice. Due to increase in… Read More »