See the footer if you would like to unsubscribe from the newsletter
Dear Subscriber,
Dear Subscriber,
Ivan Singh vs. ACIT (Bombay High Court) (Goa Bench)
S. 68 Bogus Cash Credits: The expression "any previous year" does mean all previous years but the previous year in relation to the assessment year concerned. If the cash credits are credited in the FY 2006-07, it cannot be brought to tax in a later AY. The crucial phrase in Section 68 of the IT Act, which provides that the sum so credited in the books and which is not sufficiently explained, may be charged to the income tax as income of the assessee of "that previous year" also lends support to the contentions of Dr. Daniel
Shri Dhar Sabha Vaishno Devi vs. CIT(E) (ITAT Amritsar) (Third Member)
S. 11/ 12AA: The only requirement for granting registration is that the objects of the society should be charitable in nature and activities are genuine (i) A trust may be of a public charitable nature even if the control of the trust property is not vested in the public but is retained by the settlors, (ii) Registration u/s 12A cannot be declined on the ground that the Trust Deed does not contain "dissolution clause". This is totally irrelevant & beyond the scope of enquiry contemplated u/s 12A. of the Act, (iii) Registration cannot be refused for non furnishing of registration with the Registrar of Societies. Registration with the Registrar of Societies is not a precondition for granting registration u/s 12A. In the instant case, the Ld. CIT(E) denied the registration by observing that the head of the society is restricted to be from Shree Dhar Vansh and no other member of the Sabha will have any right to raise any objection. In my opinion that cannot also be a ground to refuse the registration when the object of the assessee society are charitable in nature. On a similar issue the Hon'ble Kolkata High Court in the case of Smt. Ganesh Devi Rami Devi Charity Trust Vs. CIT reported at 71 ITR 696 held as under: " (i) a trust may be of a public charitable nature even if the control of the trust property was not vested in the public but was retained by the settlers
Vivad Se Vishwas Scheme: Comparison With KVSS And Compilation Of Important Judgements
Advocate Neelam Jadhav has conducted a meticulous comparison of the Direct Tax Vivad se Vishwas Scheme 2020 with the Kar Vivad Samadhan Scheme 1998 and explained the similarities and differences between the two. She has also prepared a compilation of all the important judgements which may answer questions and controversies arising the new schemeNew Rules For Appointment Of Tribunal Members Encroaches Upon Judicial Independence And Also Is Non-Compliant With The Guidelines Issued By The Supreme Court
Snehal Kanzarkar, a law student, has analyzed the new rules enacted for appointment of the Members of the Tribunal. She has argued that the new rules do not comply with the guidelines laid down by the Hon'ble Supreme Court as regards the qualifications, experience and other conditions for appointment to tribunals. She has also claimed that the rules encroach upon judicial independence and are not in compliance with the law relating to separation of powers. She has requested that requisite changes should be made to the rules so as to make them compliant with the guidelines issued by the Supreme Court See Also: Digest of case laws (updated regularly) containing latest judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
Tax Counsel Explains Intricacies Of 'Vivad Se Vishwas Scheme'
Senior Advocate Firoze Andhyarujina delivered a lecture in which he has explained all the nuances and intricacies of the 'Vivad Se Vishwas Scheme' in a detailed manner. The learned counsel has pinpointed the pitfalls in the scheme and also offered valuable suggestions on how they can be resolved so as to attain the laudable objective of the Government of eliminating the backlog of disputed cases__._,_.___
Posted by: "editor@itatonline.org" <itatonline.org@gmail.com>
| Reply via web post | • | Reply to sender | • | Reply to group | • | Start a New Topic | • | Messages in this topic (1) |
.
__,_._,___
0 comments:
Post a Comment