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Dear Subscriber,
Halting Coercive Recoveries Of Income Tax Demand – A Need Of The Hour In The Covid-19 Crisis
CA Nidhi Surana has pointed out that as a Covid-19 relief measure, the Government has granted an extension in the due dates and also directed issue of pending refunds to assessees. However, it has maintained a studied silence on the issue of stay of demand. She has argued that if the Department is permitted to exercise coercive measures to recover demands, businesses will collapse and there will be an economic calamity. She has pleaded that the CBDT should issue immediate instructions and stay recovery of outstanding demands 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
Analysis Of The Judgement Of The Supreme Court In PCIT vs. Maruti Suzuki India Ltd Along With Subsequent Developments
In PCIT vs. Maruti Suzuki India Ltd 107 Taxmann.com 375, the Supreme Court considered the important issue whether proceedings initiated by the Department against a person who ceases to exist due to death or amalgamation is valid or not. CAs Nehal Shah and Tanupriya Patel have explained the true scope of the judgement and raised several pertinent follow-up questions. One of the interesting questions raised is whether, if the assessee's successor omits to inform the Department of the death or amalgamation of an entity, the proceedings against the entity are curable and valid. A pdf copy of the article is available for download__._,_.___
Posted by: "editor@itatonline.org" <itatonline.org@gmail.com>
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