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Dear Subscriber,
Dear Subscriber,
Section 271AAD: The Newly Introduced Controversial Penalty Provision
CA Nidhi Surana has conducted an exhaustive study of the provisions of section 271AAD of the Income-tax Act, 1961, which imposes penalty for false entries etc in the books of account. She has explained the precise scope of the section with reference to practical examples and case laws. She has opined that the provision is too wide in its scope and poses the danger of being abused by Assessing OfficersAmbiguity Inserted By Finance Act 2020 In Taxation Of Employer's Contribution In National Pension Scheme (NPS)
CA Sanjay Mody has pointed out that the result of the amendment made by the Finance Act 2020 to section 17(2)(vii) of the Income-tax Act is that the contributions made by the employer in NPS account of the employee, after being included as 'Salary' in the hands of the employee, may also be included as 'Perquisite' in computing his or her taxable salary income, resulting in double taxation. He has urged the Government to rectify the ambiguity as it will otherwise lead to litigation and also frustrate the social objective of the NPS 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
Regards,
Editor,
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Latest:
Important Judgements Of The Bombay High Court (Reported/ Unreported/ SLP Admitted/ Rejected) (Jan 2109 – Feb 2020)
Advocate Neelam Jadav has collated all the important judgements of the Bombay High Court delivered in the period from January 2019 to February 2020. She has arranged all the judgements section-wise to aid reference. Several of the judgements are not yet reported in the Journals. She has also highlighted the cases where the Supreme Court has granted or rejected Special Leave Petitions. A pdf copy of the Digest is available for download.__._,_.___
Posted by: "editor@itatonline.org" <itatonline.org@gmail.com>
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