The powers to provisionally attach the properties of tax payer to protect the interests of revenue comes from Section 83 of CT Act[1]. The power is to be exercised by Commissioner, if he is of the opinion that it is necessary for the purposes of protecting the interest of Government.
Validity of Amendments Proposed to FCRA – Supreme Court Upholds in Noel Harper
Certain amendments made to Foreign Contribution (Regulation) Act, 2010 were made vide Foreign Contribution (Regulation) Amendment Act, 2020 and the same were given effect from 29.09.2020. The Government has proposed the said amendments after taking into the consideration the rampant misusage and abuse of the Foreign Contribution (Regulation) Act, 2010
Taxation of Benefits in Young Indian – Value of Assets of AJL – Delhi Tribunal in Young Indian
The recent Delhi Tribunal judgment in the matter of Young Indian[1] is the second in the series for Young Indian (for brevity ‘YI’). The first was the cancellation of registration under Section 12AA of Income Tax Act, 1961 (for brevity ‘ITA’). The article on that particular judgment is available at
Issues relating to ‘Issue of Notice’ through E-mail
Introduction Issue of notice under Section 148 of Income Tax Act, 1961 (for brevity ‘ITA’) after 31.03.2021 under old provisions has created lot of litigation at various High Courts and currently, the Supreme Court has reserved its judgment on such controversy. For detailed analysis of issue of notice under section
Taxation of Gift of Brand ‘Essar’ – Mumbai Tribunal in Balaji Trust
The recent judgment of Honourable Mumbai Tribunal in the matter of Balaji Trust[1] is a quite interesting and special one. In this article, we shall deal with the pivotal issue of the entire matter, the taxation of transfer of brand ‘Essar’ by Essar Investments Limited (for brevity ‘EIL’) to the
Penalties under Black Money Act – ‘must‘ or ‘may’?
Introduction In order to tackle the issues arising from undisclosed foreign income and assets, Central Government has enacted special Act ‘Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015’ (for brevity ‘BMA’) with effective from 01.07.2015. Charge of Tax: Section 3 of BMA states that a
Taxation of Services – Joint Ventures/Joint Operation Agreements/Revenue Sharing Arrangements
The taxation of services provided in situations where two or more people come together to do a business is always a tricky one, both for the tax authorities and the assessee. The revenue intends that there was a provision of service by constituent member to the joint venture and there
Updates in Labour Laws
Jurisdiction in ‘Work From Home’ Situations: In Mangala A G vs. HIL (India) Limited [Kerala HC WP(C) No. 2342/2021 26.11.2021], the question that has arisen for consideration is, what would be the jurisdiction of court in the case of employee who is working from home. The court stated that
The Story of Most Favored Interpretation of MFN Clause in Treaties
Introduction This article aims at understanding the concept of Most Favored Nation (‘MFN’) clause in the Double Taxation Avoidance Agreement (‘DTAA’ or ‘Treaty’) between India and other countries, issues and controversies therein. A country enters into treaty with other country for various purposes, the main object of which is for
Succession by Female – Prior to Hindu Succession Act – SC answers in Aurnachala Gounder
The recent decision of Honourable Supreme Court in matter of Aurnachala Gounder v. Ponnusamy[1] has reiterated the rights of a female for succeeding to the property in absence of a male issue, though the succession happened prior to the enactment of Hindu Succession Act, 1956. The matter revolves around, who