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Dear Subscriber,
CoronaVirus Infects ITSC, ITAT Delhi Shut Down
The Income Tax Settlement Commission (ITSC) has sent the grim information that Shri S.D. Jha, the Vice-Chairman of ITsC Delhi, has been tested COVID-19 Positive. Since ITsC and the ITAT Delhi Benches are sharing office premises at the Lok Nayak Bhawan, New Delhi on day to day basis, the ITAT Delhi Benches has taken preventive measures to contain the spread of COVID-19 and closed down the office at Lok Nayak Bhawan for the next two working days i.e. 4th & 5th June, 2020. All cases listed for virtual hearing on 4th & 5th June 2020 before ITAT Delhi are adjourned sine-die and the next date of hearing will be announced in due courseThe Silver Lining During Lockdown
Dr K. Shivaram, Senior Advocate, has lauded the Income tax Appellate Tribunal and the Tax Professionals for playing a proactive role during lock down by organising Webinars on several subjects which have helped tax practitioners to better their understanding on various issues. He has pointed out that this salutary practice has also helped them to do away with negative thoughts that set in as a result of the LockdownMere Bald Assertions By The AO In The Reasons For Reopening Would Confer Valid Jurisdiction To The AO To Reopen?
CA Sunil Maloo has pointed out that under the First Proviso to Section 147 of the Income-tax Act, 1961, a burden is cast upon the AO, in cases relating to reopening after the expiry of four years from the end of the assessment year, to show that income has escaped assessment due to a failure on the part of the assessee to make a full and true disclosure of the material facts. The ld. author has referred to all the important judgements and submitted that the AO has to give particulars of what facts were omitted to be disclosed for valid exercise of jurisdiction and a mere bald assertion by him is not sufficient 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
TDS And TCS – Expansion Of The Net By The Finance Act 2020
CA Ketan Vajani has systematically analyzed the large number of amendments relating to Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) which have been inserted by the Finance Act 2020. He has explained the scope of these provisions with the aid of judicial precedents. He has pointed out that several provisions are complex and will lead to confusion and practical difficulties during implementation. He has identified the problem issues and requested the CBDT to issue a suitable clarification__._,_.___
Posted by: "editor@itatonline.org" <itatonline.org@gmail.com>
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