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Notes on income tax and constitutional law, written for the reader’s information. Nothing published here is legal advice, and reading it does not create a lawyer–client relationship.
Blog # 19. Request for Assessment Records from Assessing Officer
Order Sheets: In the order sheet there is recording about notices issued to assessee/ taxpayer or other concerned parties, communication to and between assessee/ parties, details of hearings and other matters with which the assessee /…
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Blog # 18. Protective Assessment Under Income Tax Act, 1961
In the Income Tax Act, 1961 (the Act), there is provision to make only ‘regular assessment’. As per section 2(40) of the Act, ‘regular assessment’ means the assessment made under section 143(3) or section 144. Again as per section 2(8) of…
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Insolvency Proffessional
Introduction 1. There are different classes of professionals in India: Lawyers, Chartered Accountants, Company Secretaries, Cost and Works Accountant etc. etc. Each one of them is registered, regulated and monitored by their own…
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Whether Income Tax can be Abolished ?
Income Tax Vs. Bank Transaction Tax There are excellent arguments in favour of abolishing the income tax in India. Given the chaos that surrounds the system currently, the leakage, it doesn't even pass the usual equity desires of making…
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Blog # 15. Metamorphosis : The New Tomorrow ~ Digital & Forensic
A unique IT National Conference : “Metamorphosis : The New Tomorrow ~ Digital & Forensic", hosted by Ahmedabad branch of WIRC of ICAI is all set to become premier gathering in the area of IT audit / assurance, Security & Control…
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Blog # 14. All about Aadhar Privacy Case
The Supreme Court today observed that it is nearly impossible to define privacy, which is not absolute and the state cannot be prevented from imposing reasonable restrictions on citizens, according to a report by The Hindu. The nine-judge…
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Blog # 13. Hon’ble Gujarat High Court raps RBI for giving Directions to NCLT
The Hon'ble Gujarat High Court today rebuked the Reserve Bank of India for asking the National Company Law Tribunal in its June 13 directive to give priority to the insolvency proceedings against companies with huge debts. It also…
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Blog # 12. Half Monthly Digest (Income Tax) - July 2017
In this edition, we have analysed few orders. A very brief catch note of the related section of The Income Tax Act, 1961, indicates the contents of the order. For reading the whole order, click on the hyperlink attached with the name of…
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Blog # 11. Attachments under Prohibition of Benami Propert Tranactions Act, 1988 and Initial Response
Under the provisions of Prohibition of Benami Property Transactions Act, 1988, the attachments are made as per the provisions of Section 24 by an Initiating Officer. Who are Initiating Officers ? As per Section 2(19) of Prohibition of…
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