In this edition, we have come up with an article on analysis of doctrine of promissory estoppel vis-à-vis indirect tax enactments. We have taken the recent Supreme Court judgments, including the one, where the bench is divided in its opinion as to whether the doctrine of legitimate expectations should be given to the assessee, who has invested huge amounts on the promises made by the Government, especially, when there is no superior public interest shown.

The next one is on the interplay between the DTAA and Income Tax Act. We have touched upon various instances, where the DTAA and ITA clash and how do they operate in such scenarios. In the upcoming editions, we shall touch upon other facets of the same subject.

We have also collated certain important judgments under direct tax and indirect tax laws, provided our comments wherever necessary. There are so many other important judgments which were delivered in May 2023 and we shall come up with our summaries in the next editions.

Key Topics:

GST

• DOCTRINE OF PROMISSORY ESTOPPEL VIS‐A‐VIS IDT

DIRECT TAX

• INTERPLAY BETWEEN THE INCOME TAX ACT AND DTAA ‐PART I

SUMMARY OF JUDGEMENTS

• SUMMARY OF GST DECISIONS
• SUMMARY OF IT DECISIONS

In this edition, we have analysed the recent judgement of Supreme Court in Abhisar Buildwell Private Limited. This is a welcome judgement keeping since it highlights that completed assesment cannot be opened in absence of incriminating material during the search. There was a great confusion as to the power of Assessing Officer under Section 153A with respect to re-opening of completed assesments especially in a situation where there was no incriminating material. The Supreme Court blesses the rationale of Delhi High Court in Kabul Chawla.

Key Topics:

GST

• THE TWIST TO THE INTERMEDIARY STORY - DELHI HC IN DHARMENDRA JANI

DIRECT TAX

• EFFECT OF INCRIMINATING MATERIAL ON FATE OF COMPLETED ASSESSMENTS - SUPREME COURT IN ABHISAR BUILDWELL PRIVATE LIMITED

SUMMARY OF JUDGEMENTS

• SUMMARY OF GST DECISIONS
• SUMMARY OF IT DECISIONSwiki

In this 104 edition, we bring you articles on two important aspects. The first one is the analysis of the recent judgments of High Courts surrounding the re‐assessment controversy. Now, the question that is being texted is the fate of assessments for AY 13‐14 and 14‐15. Unless the matter is again solved by the apex court, this particular issue continues to haunt us. We have analysed three important decisions of High Courts on the said issue and provided our comments.

The next article is on the taxability of issuance of vouchers under GST laws. The recent Karnataka High Court decision in Premier Sales Corporation appears to be opening a can of worms under the GST laws for the said issue. We have taken the judgment as a base, travelled back in time and to see, how vouchers are treated under the indirect tax regime, to understand the current taxability of the same.

Read more: SBS Wiki E Journal March 2023