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Author: Dr. V. K. Singhania
Publisher:
ISBN: 9788171946020
Category :
Languages : en
Pages : 624
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Book Description
Author: Dr. V. K. Singhania
Publisher:
ISBN: 9788171946020
Category :
Languages : en
Pages : 624
Get Book Here
Book Description
Author: Taxmann
Publisher: Taxmann Publications Private Limited
ISBN: 9364555554
Category : Law
Languages : en
Pages : 25
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Book Description
Master Guide to Income Tax Act is an authoritative and comprehensive resource that is a benchmark in its field. This publication provides an in-depth analysis of the amendments to the Income-tax Act by the Finance (No. 2) Act, 2024, showcasing Taxmann's unparalleled expertise and commitment to precision. What sets this book apart is its unique market position—virtually unmatched due to the timely, detailed analysis only Taxmann can provide. The book is divided into four key sections, which are as follows: • Section-wise Commentary on the Finance (No. 2) Act, 2024 – A detailed analysis of the latest amendments and their practical implications • Income Tax Practice Manual – Serves as a practical guide for tax practitioners, offering step-by-step guidance on TDS, TCS, return filing, and assessment procedures • Gist of Circulars and Notifications – Organised section-wise, this feature allows practitioners to locate up-to-date circulars and notifications easily • Digest of Landmark Rulings – A section-wise summary of vital judicial decisions that have shaped the interpretation of the Income-tax Act, offering a concise understanding of critical rulings This book is essential for tax professionals, legal practitioners, chartered accountants, financial consultants, academicians, and students. It is helpful for anyone involved in tax planning, compliance, litigation, or academic study, providing a thorough understanding of the Income-tax Act. The Present Publication is the 34th Edition, authored by Taxmann's Editorial Board, and provides comprehensive, division-wise coverage with the following key features: • Division One | Section-wise Commentary on the Finance (No. 2) Act, 2024 o This division is the book's cornerstone, featuring over 300 pages of detailed amendment analysis. It covers: § Capital Gains – In-depth analysis of changes in the holding period for capital assets, indexation benefits, and tax rates for long-term and short-term capital gains. It also covers amendments to the taxation of unlisted bonds, debentures, and gifts § Taxation of Buyback of Shares – Detailed examination of amendments affecting the buyback of shares and TDS on deemed dividends arising from the buyback § Taxation of Charitable and Religious Trusts – Comprehensive analysis of shifts from approval-based to registration-based exemptions and powers given to tax authorities to condone delays in filing an application for registration § Income and Tax Computation – Analysis of amendments affecting standard deductions, changes in the new tax regime, and impacts on salary income § Business Income – Analysis of changes affecting the profits and gains from business or profession, including presumptive taxation schemes for cruise ships and amendments affecting Arm's Length Price determinations § Deductions and Exemptions – Analysis of changes in deductions under Section 80CCD for contributions to pension schemes, expanded definitions of specified funds, and exemptions for entities in IFSC § Returns & Assessment – Detailed discussion of amendments to reassessment procedures and block assessments § TDS/TCS – Overview of changes in provisions relating to TDS/TCS, including rationalisation of rates and new provision for claiming TCS credit under Section 192 § Penalties and Prosecution – Explanation of new penalties for non-compliance, changes in limitation periods for imposing penalties, and decriminalisation of some offences § Miscellaneous – Coverage of miscellaneous amendments, including the abolition of the 'Angel Tax' and changes to Aadhaar requirements for tax filing o The key features are as follows: § [Comprehensive Commentary] The section-wise commentary includes a detailed examination of every change made by the Finance (No. 2) Act, 2024, focusing on the following: ■ Pre-amendment Position ■ Impact of Amendments ■ Date of Applicability § [Supporting Materials] The analysis is enriched with supporting case laws, circulars, notifications, etc., providing a robust foundation for understanding the amendments § [Illustrative Approach] Illustrations and case studies are used to explain complex amendments, making it easier for readers to grasp the implications § [Gaps and Opinions] The authors not only explain the amendments but also identify potential gaps and provide reasoned opinions on possible outcomes § [Structured Overview] Each chapter begins with a concise summary of the amendments or new sections, supported by cross-referenced discussions for easy navigation. • Division Two | Income Tax Practice Manual o This division is a practical guide, providing step-by-step guidance on compliance and procedural requirements. It covers the essential aspects of tax practice, including: § Deduction and Collection of Tax at Source – Comprehensive guide on TDS/TCS provisions, procedural aspects, and practical insights for compliance § Return of Income – Comprehensive analysis of all provisions relating to filing returns by various taxpayer categories § Assessment/Reassessment – Detailed procedures and timelines for assessments and reassessments, ensuring accurate and timely compliance • Division Three | Gist of Circulars, Clarifications & Notifications o From 1961 to June 2024, this division provides a concise summary of all relevant circulars, clarifications, and notifications. It is organised both section-wise and date-wise, ensuring quick and easy access to the necessary information • Division Four | Digest of Landmark Rulings o This division compiles landmark rulings from 1922 to June 2024, organised section-wise and date-wise. It provides insights into judicial interpretations that have significantly influenced the application of the Income-tax Act
Author: Taxmann
Publisher: Taxmann Publications Private Limited
ISBN: 9364559886
Category : Law
Languages : en
Pages : 17
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Book Description
This book has been widely recognized as the most authoritative content for tax professionals, legal practitioners, academicians, and anyone engaged in the application and interpretation of the Income-tax Act, 1961. The Present Publication, in its 69th Edition, upholds its tradition of unmatched accuracy and reliability. It is updated to incorporate the latest amendments introduced by the Finance Act, 2024, and the Finance (No. 2) Act, 2024. A glimpse of the recent changes include: • New Sections Introduced o Section 44BBC – A new presumptive taxation scheme for non-residents operating cruise ships, simplifying tax compliance for this sector o Section 194T – Partnership firms are now required to deduct tax at source on sums paid or payable to their partners, ensuring transparency o Section 271GC – Imposes penalties on non-resident assessee with Liaison Offices (LO) in India for non-compliance in furnishing the annual statement in Form No. 49C • Key Amendments to Existing Provisions o Section 2(42A) – Amended to prescribe only two holding periods for determining the nature of capital assets o Section 48 – Revised to eliminate the availability of indexation benefits for long-term capital assets o Sections 111A, 112, and 112A – Updated to adjust the tax rates applicable to capital gains o Section 50AA – Expanded to include unlisted bonds and debentures within its scope o Section 47(iii) – Substituted to classify the transfer of a capital asset by any person other than an Individual or HUF under a gift, will, or irrevocable trust as a taxable transfer o Section 2(22)(f) – Now treats sums received by shareholders during a share buyback as deemed dividends o Section 10(23C) and Section 12AB – The approval-based exemption under Section 10(23C) has been merged with the registration-based exemption under Section 12AB o Standard Deduction – Increased from Rs. 50,000 to Rs. 75,000 under the new tax regime o Chapter XIV-B (Sections 158B to 158BH) – Substituted to establish a new framework for block assessments in cases of search and requisition conducted on or after September 1, 2024 This book is authored and edited by Taxmann's Editorial Board, continuing its legacy as a cornerstone in Direct Tax, with the following noteworthy features: • Comprehensive Coverage o Division One – Income-tax Act, 1961 § The text is thoroughly updated and annotated, reflecting all amendments made by the Finance Act, 2024 and Finance (No. 2) Act, 2024 § Appendix – Includes a detailed list and text of provisions from Allied Acts, Circulars, and Regulations that are referred to within the Income-tax Act, providing a cross-referential understanding of the legal framework § Validation Provisions – Key provisions that validate the applicability of certain sections § Subject Index – A well-structured index that allows for quick and easy location of relevant sections and topics. o Division Two – Finance Act 2024 and Finance (No. 2) Act 2024 § Text of the Finance Act, 2024 and Finance (No. 2) Act, 2024 o Division Three – Securities Transaction Tax § Text of the Securities Transaction Tax o Division Four – Commodities Transaction Tax § Text of the Commodities Transaction Tax o Division Five – Equalisation Levy § Text of the Equalisation Levy along with the relevant Notification under Section 164 of the Finance Act, 2016 • Detailed Annotations and Practical Tools o Each section is accompanied by extensive annotations that provide: § Relevant Rules & Forms applicable to that section § Key Circulars & Notifications issued by the government, which are essential for interpretation and application § Dates of Enforcement for specific provisions, enabling readers to understand the chronological application of the law § Cross-references to Allied Laws, which are crucial for a holistic understanding of the legal context in which the Income-tax Act operates • Historical Context and Legislative Evolution o Legislative History § The book includes a detailed history of amendments to the Income-tax Act since 1961, providing insights into the evolution of the Income-tax Act. This feature is particularly useful for legal professionals and researchers who seek to understand the legislative intent and historical developments behind current provisions • User-Friendly Design and Accessibility o Quick Navigation Features § The book is designed with user convenience in mind. Section numbers are prominently printed in folios, enabling readers to navigate the text swiftly. The comprehensive Table of Contents further enhances the ease of access o Bestseller Legacy § As part of Taxmann's renowned series of bestseller publications, this book continues a legacy of over five decades, trusted by generations of tax professionals and students for its accuracy and reliability o Six Sigma Quality Assurance § Adhering to the Six Sigma methodology, the book is reviewed to achieve the highest benchmark of 'Zero Error,' making it one of the most reliable references in the field of Direct Taxes
Author: G.C. Das & K.Chandrahas
Publisher: Taxmann Publications Private Limited
ISBN: 9390128714
Category : Law
Languages : en
Pages : 43
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Book Description
The focus of the book is on assessment in search and seizure cases. Important concepts and principles, which are relevant not only for search cases but also in dealing with regular assessments, have also been put together in this book. This book also deals with the assumption of jurisdiction, retrospective legislation and judicial precedents. The revised edition of this book incorporates a new chapter on ‘Digital Evidence’ in recognition of growing importance of the subject. The Present Publication, authored by G.C. Das and K. Chandrahas, is the Second Edition, as amended by the Finance Act, 2020 and the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020. The features of this book are as follows: • Provides a complete journey of the assessment proceedings starting from the issue of warrant till levy of penalty • Complete description of assessment provisions with the help of supporting judicial pronouncements • Comprehensive digest of all Case Laws relating to search and seizure • Subject index to quickly find out the relevant Case Law • Contents of this book are as follows: 𝚘 Warrant of Search – Relevance in Assessment Proceedings 𝚘 Section 153A – An Overview 𝚘 Initiation of Proceedings u/s 153A – Jurisdiction Issues 𝚘 Procedure of Assessment u/s 153A 𝚘 New Claim of Deduction in Proceedings u/s 153A 𝚘 Use of Incriminating Evidence 𝚘 Assessment of Income of ‘Other Persons’ – Section 153C 𝚘 Time Limits for Completing Search Assessments – Section 153B 𝚘 Application and Release of Seized Assets – Section 132B 𝚘 Section 115BBE – An Analysis 𝚘 Seizure of Jewellery – Board’s Instructions and Other Issues 𝚘 Computation of Undisclosed Income Under Sections 153A & 153C – Miscellaneous Issues 𝚘 Statutory Presumptions – Section 132(4A) & Section 292C 𝚘 Notings on Loose Papers – Evidentiary Value 𝚘 Admission 𝚘 Retraction 𝚘 Examination and Cross-Examination of Witness 𝚘 Principles of Natural Justice 𝚘 Concealment Penalties – Then and Now at a Glance 𝚘 Penalty under Section 271AAA 𝚘 Penalty under Section 271AAB 𝚘 Penalty under Section 271AAC 𝚘 Penalty in Search Cases – Explanation 5A to Section 271(1)(c) 𝚘 Penalty for Under-Reporting & Misreporting of Income – Section 270A 𝚘 Recording of Satisfaction in Penalty Proceedings 𝚘 Immunity from Penalty & Prosecution – Section 270AA 𝚘 Prosecution under Section 276C 𝚘 Extrapolation of Sales 𝚘 Suppression of Sales – Application of Section 145 𝚘 Bogus Purchases 𝚘 Stock Verification – Different Aspects 𝚘 Peak Theory 𝚘 Telescoping 𝚘 On-Money Transaction 𝚘 Share Application Money and Section 68 𝚘 Penny Stock Transactions 𝚘 Human Probability Theory 𝚘 Real Income Theory 𝚘 Mutuality Principle 𝚘 Piercing Corporate Veil 𝚘 Prospective and Retrospective Legislation 𝚘 Doctrine of Promissory Estoppel 𝚘 Doctrine of Legitimate Expectation 𝚘 Legal Fiction 𝚘 Assumption of Jurisdiction 𝚘 Legal Precedent 𝚘 Digital Evidence
Author: Taxmann
Publisher: Taxmann Publications Private Limited
ISBN: 9364556372
Category : Law
Languages : en
Pages : 16
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Book Description
This book has been widely recognized as the most authoritative content, presented in a convenient pocket-sized paperback format, which provides unmatched convenience without compromising on comprehensive content It is helpful for tax professionals, legal practitioners, academicians, and anyone engaged in applying and interpreting the Income-tax Act, 1961. The Present Publication is the 30th Edition and has been amended by the Finance Act, 2024 and Finance (No. 2) Act, 2024. This book is edited by Taxmann's Editorial Board, with the following noteworthy features: • Comprehensive Coverage o Division One – Income-tax Act, 1961 § The text is thoroughly updated and annotated, reflecting all amendments made by the Finance Act, 2024 and Finance (No. 2) Act, 2024 § Validation Provisions – Key provisions that validate the applicability of certain sections § Subject Index – A well-structured index that allows for quick and easy location of relevant sections and topics. o Division Two – Finance Act, 2024 and Finance (No. 2) Act, 2024 § Text of the Finance Act, 2024 and Finance (No. 2) Act, 2024 • User-Friendly Design and Accessibility o Quick Navigation Features § The book is designed with user convenience in mind. Section numbers are prominently printed in folios, enabling readers to navigate the text swiftly. The comprehensive Table of Contents further enhances the ease of access o Bestseller Legacy § As part of Taxmann's renowned series of bestseller publications, this book continues a legacy of over five decades, trusted by generations of tax professionals and students for its accuracy and reliability o Six Sigma Quality Assurance § Adhering to the Six Sigma methodology, the book is reviewed to achieve the highest benchmark of 'Zero Error,' making it one of the most reliable references in the field of Direct Taxes
Author: M.K. Pithisaria
Publisher: Taxmann Publications Private Limited
ISBN: 9356223343
Category : Law
Languages : en
Pages : 63
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Book Description
Taxmann's flagship section-wise commentary on Income-tax Act is also the most updated & amended. It is presented in a structured, integrated, interconnected, and short & concise format. This book exemplifies the Taxmann's legacy of 60+ years and the unmatched 35 years' experience of Mr M.K. Pithisaria. This book will be helpful for tax practitioners of Income-tax, International Tax, Transfer Pricing, etc. The Present Publication is the 1st Edition, amended by the Finance Act 2022 & updated till 14th July 2022. This book is authored by Adv. M.K. Pithisaria & CA Abhishek Pithisaria, with the following noteworthy features: • [Flow of the Commentary] o The content of each (operative) Section starts with the Section portion, followed by; o The relevant Rule to that Section (if any) followed by; o The commentary portion under the central heading 'Comments' • [Integrated Commentary] that cohesively integrates the following: o Income-tax Act, 1961 o Income-tax Rules, 1962 o Notifications, Circulars, Instructions, etc. issued by the Central Board of Direct Taxes (CBDT) and the Central Government o International literature on International Tax & Transfer Pricing • [Interconnected Commentary] o This commentary aims to help the reader comprehend the law logically, effectively, and efficiently o The authors have given a para numbering and broad subject heading in the commentary on every Section, allowing you to navigate to the relevant portion quickly o Each volume provides a detailed alphabetic subject index and list of cases that help you find the relevant discussion instantly • [Comprehensive Commentary] o The authors have explained every provision's critical aspect and principles with judicial pronouncements, circulars, notifications, practical insights, and illustrations. o The book covers the international literature on various aspects, including UN Model Tax Convention 2021, OECD TP Guidelines, and Expert Committee's Report on GAAR
Author: The Chamber of Tax Consultants
Publisher: Taxmann Publications Private Limited
ISBN: 9356222800
Category : Law
Languages : en
Pages : 17
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Book Description
This is a unique publication that deals with the law and specimens of petitions commonly used by tax practitioners in their day-to-day practice. This book attempts to blend the theory and practical aspects of drafting documents. It attempts to explain the nuances of drafting documents and educates the reader on how these are used in real life. The specimens of pleadings are accompanied by a summary of corresponding legal provisions, giving a professional the 'how' and the 'why' of a legal proceeding. A unique feature of this book is the do's & don'ts while preparing petitions. This book will be helpful for tax practitioners, advocates & taxpayers to help them bring clarity in their pleadings and understand the procedural & practical aspects of Tax Laws. The Present Publication is the 3rd Edition, edited by Dr. K. Shivaram, Mr. Rajendra & CA Anish Thacker. The book is divided into 29 chapters, authored by 28 eminent authors, who are senior professionals & retired members of ITAT. The detailed contents of the book are as follows: • Grounds of appeal under Income Tax Law before CIT(A), DRP, and ITAT, including cross objections (Revised Form 36 and Form 35) - Vasanthi Patel & Rupal Shah Vora, Advocates • Application for raising additional grounds of appeal before Appellate Tribunal and Commissioner (Appeals)/National Faceless Appeal Centre (NFAC) - Shashi Bekal, Advocate • Application for admission of additional evidence before the Appellate Tribunal and Commissioner (Appeals)/National Faceless Appeal Centre (NFAC) - Shashi Bekal, Advocate • Application under Rule 27 of the Income-tax Appellate Tribunal Rules, 1963 - Shashi Bekal, Advocate • Application for condonation of delay before Income Tax Appellate Tribunal & Commissioner (Appeals)/National Faceless Appeal Centre - Shashi Bekal, Advocate • Rectification applications under sections 154 and 254(2) of the Income-tax Act, 1961 - Paras S. Savla & Pratik B. Poddar, Advocates • Stay Application/Petition before Assessing Officer and before Principal Commissioner of Income tax - Niyati Mankad, Advocate • Stay application before Appellate Tribunal - Subhash S. Shetty, Advocate • Appeals/Cross objections before the High Court – Section 260A of the Income-tax Act, 1961 - Jeet Kamdar, Advocate • Writ Petitions before the High Court - Sukhsagar Syal, Advocate • Writ Petition before Supreme Court – Article 32 of the Constitution of India, 1950 - Bharat L Gandhi, Advocate • Special Leave Petition before the Supreme Court - Bharat L Gandhi, Advocate • Revision Application u/s 264 of the Income-tax Act, 1961 - Harsh M. Kapadia, Advocate • Applications before Central Board of Direct Taxes – Section 119 of the Income-tax Act, 1961 - Deepak Tralshawala, Advocate • Dispute Resolution Committee in certain cases – Chapter XIX-AA – Section 245MA of the Income-tax Act, 1961 - Mandar Vaidya, Advocate • Certificate for deduction of tax at a lower rate - CA Srinath Kumar • Applications during search and survey proceedings - CA Shri Reepal Tralshawala • Indemnity bonds - CA Viraj Mehta • Power to reduce or waive penalty, etc., in certain cases – Section 273A of the Income-tax Act, 1961 - Mr. Devendra Jain, Advocate & CA Ashwini Bhide • Reduction/waiver of interest under section 220 of the Income-tax Act, 1961 - Mr. Devendra Jain, Advocate & CA Ashwini Bhide • Immunity from the imposition of penalty, etc. – Section 270AA of the Income-tax Act, 1961 - Mr. Devendra Jain, Advocate & CA Ashwini Bhide • Powers of waiver of interest under sections 234A, 234B and 234C of the Income-tax Act, 1961 - Mr. Devendra Jain, Advocate & CA Ashwini Bhide • Power of Principal Commissioner or Commissioner to grant immunity from penalty – Section 273AA of the Income-tax Act, 1961 - Mr. Devendra Jain, Advocate & CA Ashwini Bhide • Practice and Procedure – Prosecutions under the Income-tax Act, 1961 - Dr. Sujay N. Kantawala, Advocate • Application for compounding of offences under Income-tax Act, 1961 - Rahul Hakani, Advocate • Gift Deed - General law & Income-tax Act, 1961 - Ajay R Singh, Advocate High Court • Affidavits – General law & Income-tax Act, 1961 - D. Manmohan, Advocate, Vice President (Retd.), (ITAT), B. Ramakotaiah, Accountant Member (Retd.), (ITAT), Sashank Dundu, Advocate • Trusts, Settlements and Alternative Investment Funds - Radhika Parikh & Nandini Pathak, Advocates • Partition of Hindu Undivided Family (HUF) - N.A. Kapasi, Advocate and Pradip N. Kapasi, Chartered Accountant
![Taxmann's The Budget [Income-tax | GST | Customs] | 2023-24 – An imprint edition of Union Budget, as presented by the Finance Minister, with Highlights, FM's Speech, Finance Bill, Notifications, etc. PDF](https://books.google.com/books/content/images/frontcover/Yg-rEAAAQBAJ?fife=w80-h100)
Author: Taxmann
Publisher: Taxmann Publications Private Limited
ISBN: 9356226695
Category : Law
Languages : en
Pages : 420
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Book Description
ALL ORDERS OF TAXMANN's BUDGET ARE SENT VIA THE FASTEST MODE OF DELIVERY This book is an imprint edition of the Union Budget 2023-24. It covers the complete text of the Union Budget 2023-24, including: • Income-tax • GST • Customs It has the following key documents: • Budget Highlights • Budget Speech • Finance Bill, 2023 • Notes on Clauses • Memorandum explaining the provisions of the Finance Bill, 2023 • Budget Notifications • DO Letter This edition covers everything you need to decipher the changes proposed by the Finance Bill, 2023 in Income-tax, GST and Customs
Author: AIFTP
Publisher: Taxmann Publications Private Limited
ISBN: 9357787038
Category : Law
Languages : en
Pages : 65
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Book Description
This handbook offers an in-depth understanding of the law of evidence and cross-examination within tax and related legal areas. It is presented in a Q&A format to tackle a broad spectrum of topics across various tax statutes. The content is methodically divided into fifteen chapters dedicated to different facets of tax law and evidence. These chapters dissect procedural and evidentiary aspects ranging from basic evidence concepts in the Income-tax Act 1961 to complex topics in International Taxation and Transfer Pricing. The handbook addresses indirect tax procedures under several acts, including the GST Act, Customs Act, and more specialised areas like Benami Transactions and the Prevention of Money Laundering Act (PMLA). It also covers aspects of the Information Technology Act 2000. It introduces new criminal law frameworks under the Bharatiya Nyaya Sanhita, 2023, Bharatiya Nagarik Suraksha Sanhita, 2023, Bharatiya Sakshya Adhiniyam, 2023, and the Indian Limitation Act, 1963. This book is tailored for tax consultants and legal advisors and serves as a practical guide for applying the law of evidence in tax-related proceedings, including: • Assessments • Re-assessments • Appeals It is especially pertinent for those practising in virtual assessment and appeal environments, where precise evidence handling is crucial. The Present Publication is the Latest Edition, commissioned by the All India Federation of Tax Practitioners and published exclusively by Taxmann. It is edited by Dr K. Shivaram, and authored by CA. M.V. Purushottama Rao, Adv. P.V. Subba Rao, Adv. Paras Savla, Adv. Rahul Hakani, Adv. Sham V. Walve, Adv. Divesh Chawla, Adv. Aditya Ajgaonkar, Adv. Shashi Ashok Bekal, Adv. Tanveer Khan and CA. Yash Ranglani. The noteworthy features of the book are as follows: • [Practical Q&A Format] with a focus on complex legal issues in tax (both direct and indirect) and various economic laws • [Structured Format] Each chapter addresses specific legislation, discussing the following: o Core Concepts o Application Challenges o Procedural Aspects • [Detailed Analysis] on topics such as: o Intricate aspects of evidence and cross-examination techniques o Evidentiary challenges and legal strategies in dealing with documents such as microfilms, computer printouts, and electronic records o Advanced topics like transfer pricing, General Anti Avoidance Rule (GAAR), and the role of evidence in international transactions o New Criminal Law Framework: § Bharatiya Nyaya Sanhita § Bharatiya Nagarik Suraksha Sanhita § Bharatiya Sakshya Adhiniyam • [Expert Authorship] Authored by 10+ stalwarts in the field, the book encapsulates the depth of experience and knowledge of its contributors, who are recognised professionals in law and taxation. The structure of the book is as follows: • [Basics to Advanced Topics] Starts with fundamental concepts of evidence and moves to complex issues in re-assessment proceedings, international transactions, and cross-border issues, including transfer pricing and GAAR • [Cross-Examination Techniques] Dedicated sections on the art and strategic approach to cross-examination in tax litigation, with do's and don'ts to aid practitioners in effective advocacy • [Special Focus on New Legislation] Detailed analysis of the BNS, BSA, and their implications on current tax practices and evidence handling • [Practical Approach] Each section includes practical questions and answers that help clarify the practical application of theoretical knowledge The contents of the book are as follows: • Income-tax Act, 1961 – Evidence – Concepts and Basics o This chapter introduces and discusses the definition and basic features of 'Evidence' outlined in the Bharatiya Sakshya Adhiniyam, 2023. An analysis of how courts interpret 'Evidence' under the Evidence Act, 1872, and the relevance of these interpretations within the context of the Income-tax Act, 1961 § FAQ.1 – FAQ.18 – It provides a detailed analysis covering the provisions of the Income-tax Act that refer to 'Evidence,' including direct and indirect references to the Evidence Act and the Bharatiya Sakshya Adhiniyam, 2023. The chapter discusses the evidentiary value of confessional statements, the credibility assessments by Assessing Officers, and the legalities surrounding cash credits, among other pivotal discussions • Income-tax Act, 1961 – Rules of Evidence o This chapter discusses the various types of assessments under the Income-tax Act, 1961, such as Summary Assessment, Scrutiny Assessment, Best Judgment Assessment, and Faceless Assessment. It examines the powers conferred upon Income-tax Authorities to collect evidence and the circumstances under which Assessing Officers can accept or reject claims made by assessee § FAQ.19 – FAQ.44 – It provides an extensive analysis of how evidence plays a critical role in the assessment process, including the manner and mode of service and communication of notices to the assessee. The chapter also addresses the evidentiary value of third-party statements and the judicial requirement of notice or summons service § FAQ.45 – FAQ.90 – It further discusses the nuances of evidence in income tax assessments, covering a wide range of topics from the justification of sham documents in assessment proceedings to the scope of protective income-tax assessments under the Act. This segment explores the legal basis for adjustments, the right of cross-examination, and the implications of various assessment methodologies • Income-tax Act, 1961 – Law of Evidence – Re-assessment Proceedings o This chapter focuses on the nuanced legal frameworks and judicial interpretations relevant to re-assessment under the Income-tax Act, 1961, especially in light of the amendments effective April 1, 2021. It details principles of natural justice and procedural requirements for a valid re-assessment § FAQ.91 – FAQ.125 – It analyses the validity of re-assessment notices, the authority of Assessing Officers in the re-assessment process, and the judicial and procedural safeguards, including the assessment of fresh materials and the role of judicial notices in re-assessment scenarios § FAQ.126 – FAQ.129 – It concludes the re-assessment discussion by addressing the judicial precedents set for re-assessment under the Income-tax Act, focusing on the limits of the Assessing Officer's powers and the legal requirements for a valid re-assessment. It includes topics on the interpretation of limitation periods and the effects of court findings on re-assessment procedures • Income-tax Act, 1961 – Law of Evidence – Search, Seizure and Survey Proceedings o This chapter examines the procedures and legal precedents governing search, seizure, and survey under the Income-tax Act. This chapter also elaborates on the evidentiary values assigned to documents, electronic records, and statements collected during these operations § FAQ.130 – FAQ.152 – It analyses the admissibility and reliance on evidence gathered from search and seizure operations, including the impact of admissions made during searches, the legal status of documents seized, and the procedures following search actions for assessing undisclosed income § FAQ.153 – FAQ.155 – It concludes the discussion on search and seizure by examining the evidentiary value of statements made post-search actions, the legal standing of such statements in court, and the assessability of surrendered income post-retraction of a statement made under duress or mistake • Income-tax Act, 1961 – Law of Evidence – Appellate Proceedings o This chapter discusses the appellate mechanisms within the Income-tax framework, detailing the powers available to appellate authorities in accepting and evaluating new evidence and the procedural norms for a fair appellate review § FAQ.156 – FAQ.192 – It reviews the application of additional evidence in appeals, the criteria for admitting fresh evidence, and the procedural expectations from the appellants at various appellate levels, including the strategic use of evidence in influencing appellate decisions § FAQ.193 – FAQ.196 – It concludes the appellate discussion by delving into the powers of the Income-tax Appellate Tribunal, including the admission of new evidence, the tribunal's duty to inquire independently, and the scope of directions it can issue while deciding appeals. It explores the legal remedies available against procedural errors and the recalibration of appellate decisions based on new facts or evidence • Income-tax Act, 1961 – Law of Evidence – International Transaction, Transfer Pricing and General Anti-Avoidance Rules (GAAR) o This chapter covers evidence considerations in international tax disputes, transfer pricing adjustments, and the application of GAAR, outlining the types of evidence pivotal in these contexts and their interpretative challenges § FAQ.197 – FAQ.240 – It provides a detailed discussion on the evidentiary requirements for supporting transfer pricing methodologies, the role of tax residency certificates in treaty benefits, and the evidential implications of GAAR in structuring international transactions • Rule of Evidence in Indirect Tax Proceedings (Central Goods and Services Tax Act, 2017) o This chapter analyses the evidentiary aspects under the GST framework, addressing the documentary and procedural requisites for registration, claims, and compliance, as well as the powers of the GST appellate tribunal concerning evidence § FAQ.241 – FAQ.292 – It examines issues such as the acceptability of electronic records, the implications of non-compliance with summons, and the procedural norms for the submission and adjudication of evidence in GST proceedings § FAQ.293 – FAQ.303 – It discusses advanced topics in GST-related evidence, including using digital records in proceedings, the admissibility of electronic records, and the legal consequences of destroying or secreting documents. This segment also covers procedural questions related to the electronic submission of documents and the automatic acceptance of digital records by authorities • Customs Act, 1962 – Law of Evidence o This chapter investigates the evidence law as it applies to the Customs Act, including the admissibility of statements under duress, the role of digital records, and the judicial review of evidentiary decisions made by customs authorities § FAQ.304 – FAQ.323 – It focuses on the principles governing the collection and use of evidence in customs proceedings, the challenges in proving the illicit nature of goods, and the legal thresholds for the admissibility of electronic evidence in customs violations • Law of Evidence – Benami Transactions (Prohibition) Act o This chapter explores the evidential challenges and legal interpretations associated with benami transactions, particularly the determination of true ownership and the applicability of procedural laws in benami property disputes § FAQ.324 – FAQ.354 – It discusses the statutory definitions of benami transactions, the evidentiary burdens placed on parties, and the role of evidence in adjudicating disputes under the Benami Transactions Prohibition Act • Law of Evidence – Prevention of Money-Laundering Act, 2002 o This chapter discusses the unique evidence issues in money laundering cases under the PMLA, including the treatment of confessions, the admissibility of illegally obtained evidence, and the presumptions about the burden of proof § FAQ.355 – FAQ.366 – It analyses the procedural nuances and evidentiary standards required to establish money laundering under the PMLA, including the implications of the act's overriding effect over other legal provisions • Information Technology Act, 2000 – Law of Evidence o This chapter reviews the interplay between the IT Act and tax law, focusing on the admissibility of electronic records, the legal requirements for electronic signatures, and the challenges associated with digital evidence in tax proceedings § FAQ.367 – FAQ.383 – It covers the critical aspects of electronic evidence under the IT Act, including the standards for certifying digital records, the admissibility of communications • Bharatiya Nyaya Sanhita, 2023 – Law of Evidence o This chapter examines the newly instituted Bharatiya Nyaya Sanhita, 2023, highlighting its impact on the adjudication processes, particularly in abetment, criminal conspiracy, and the furnishing of false information. It discusses the definitions, implications, and evidentiary requirements set forth by the new legal framework § FAQ.384 – FAQ.405 – It analyses the detailed legal questions regarding abetment, the nuances of criminal conspiracy, the legal responsibilities surrounding false information, and the procedural implications for evidentiary submissions under the Bharatiya Nyaya Sanhita. • Bharatiya Sakshya Adhiniyam, 2023 – Income-tax Act, 1961 o This chapter discusses the implications of the Bharatiya Sakshya Adhiniyam, 2023, for evidence handling within the Income-Tax Act. It addresses how this new evidence act interfaces with tax law, focusing on admissibility, evidentiary burdens, and judicial practices. § FAQ.406 – FAQ.426 – It thoroughly examines court procedures, evidentiary criteria, and legal presumptions under the Bharatiya Sakshya Adhiniyam as applied to tax law. This includes discussions on the admission of electronic evidence, the roles of public servants, and the importance of expert opinions in tax litigation § FAQ.427 – Q.448 – It closes the discussion on the Bharatiya Sakshya Adhiniyam's application to tax law by focusing on the practical aspects of evidence handling in court. This includes the distinction between primary and secondary evidence, the relevance of public and private documents, and the legal implications of electronic evidence. It addresses the burden of proof, the doctrine of estoppel, and the protection afforded to communications between a lawyer and their client • Indian Limitation Act, 1963 – Law of Evidence o This chapter focuses on the interaction between the Indian Limitation Act, 1963, and tax law, particularly how time limitations can influence the admissibility and effectiveness of evidence in tax proceedings. It covers the acknowledgement of debts, the effects of financial statements as acknowledgements, and the legal precedents that govern these relationships § FAQ.449 – FAQ.458 – It investigates various scenarios under the Limitation Act that affect the tax law, such as the impact of an acknowledgement in writing on the limitation period and whether electronic communications can constitute an acknowledgement. This chapter also discusses the consequences of late filings and the legal nuances of appeals related to limitation issues • Cross-Examination – Law of Evidence - Do's and Don'ts During Cross-Examination o This chapter provides a comprehensive guide on the proper procedures and strategic considerations for cross-examination within tax litigation. It outlines best practices, potential pitfalls, and the critical importance of cross-examination in establishing the credibility of evidence § FAQ.459 – Q.472 – It offers a thorough overview of examination techniques, the legal value of confessions made during searches, and the implications of denying an opportunity for cross-examination. It also discusses the procedural rights and responsibilities that govern the presence of witnesses and the admissibility of their statements in tax disputes
![Taxmann's Income Tax Act | POCKET (Small Size) – Covering amended, updated & annotated text of the Income Tax Act & relevant text of the Finance Act 2023 | [Finance Act 2023 Edition] PDF](https://books.google.com/books/content/images/frontcover/wuy-EAAAQBAJ?fife=w80-h100)
Author: Taxmann
Publisher: Taxmann Publications Private Limited
ISBN: 9356226989
Category : Law
Languages : en
Pages : 16
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Book Description
This book covers the amended, updated & annotated text of the Income-tax Act, 1961 & relevant text of the Finance Act, 2023, in a Pocket/Handy format. The Present Publication is the 29th Edition and has been amended by the Finance Act 2023. This book is edited by Taxmann's Editorial Board with the following coverage • Division One – Income-tax Act, 1961 o Arrangement of Sections o Text of the Income-tax Act, 1961, as amended by the Finance Act, 2023 o Validation Provisions • Division Two – Relevant Text of the Finance Act, 2023
