Searching Content indexed under Tax Authorities by Vaish Associates Advocates ordered by Published Date Descending.
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Procedure For Identification And Processing Of Cases For Prosecution Under The Income Tax Act, 1961 And Relaxation Of Time Limit For Compounding The Offence Under The Direct Tax
On 9th September 2019, CBDT has issued 2 circulars with respect to the procedure for identification and processing of cases for prosecution under the Income Tax Act, 1961 and the relaxation of time limit ...
18 Sep 2019
Value Of Uncertified Foreign Bank Records Under DTAA For Prosecution Under The (Indian) Income Tax Act And Black Money (Undisclosed Foreign Income And Assets) And Imposition Of Tax Act
The intention of the legislature is pretty clear from recent development in the field of law dealing with white-collar crimes.
6 Aug 2019
Information Furnished Under DTAA- Evidentiary Value In Trial
DTAA (Double Taxation Avoidance Agreement) refers to a Tax Treaty that is entered between two countries. The purpose of such Agreements is to make sure that a person does not suffer duplication of taxes.
2 Aug 2019
Interplay Between Black Money Law And Income-Tax Act – An Analysis.....
With an intent to tax illegitimate / undisclosed foreign income and assets earned / acquired outside India by residents to India, the Central Government had enacted The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 ...
26 Jul 2019
Whether Cash Transactions During Demonetization Period Per-Se Fall Under The Scope Of Benami Act?
Under The Benami Transactions (Prohibition) Act, 1988, the scope of benami transaction was very limited and it used to include only those transactions in which property is transferred to one person for a consideration paid or provided by another person.
5 Jun 2019
Mens Rea, Limitation & Prosecution Under Income Tax Act
The expression 'willfully admits' employed in the above provision is an inclusive one, despite which, it does not, in any way, change the common and fundamental meaning of it.
21 May 2019
Powers Of Enforcement Directorate (ED) Under Foreign Exchange Management Act, 1999 (FEMA)
Directorate of Enforcement is a multi-disciplinary organization mandated with the task of enforcing the provisions of two special fiscal laws – Foreign Exchange Management Act, 1999 and Prevention of Money Laundering Act, 2002.
22 Mar 2019
Compounding Of Offences Under The Income Tax Act- Limitation And Stage Of Payment Of Compounding Fees
What will be the fate of an application filed for compounding of offence after one year during the course of prosecution under the Income Tax Act?
25 Sep 2018
Sanction Under Sec. 279 Of The Income Tax Act, 1961 For Prosecution – Conditions & Obligations
In the case Indo Arya Central Transport Limited & Ors. vs. Commissioner of Income Tax (TDS), Delhi -1 & Anr. ( ...
14 Jun 2018
Equalisation Levy – Genesis, Provisions And Interpretation Issues
'Digital Economy' is based on digital computing technologies. It constitutes of various evolving business models such as e-commerce, online advertising, app stores, online payments modes and social media.
11 Jul 2017
Hon'ble Delhi High Court Renders Rule 5A(2) Of Service Tax Rules As Ultra Vires The Finance Act, 1994 - The Mega Issue:
Mega Cabs Pvt. Ltd. had challenged Rule 5A(2) of the Service Tax Rules, 1994, as amended by Notification No. 23/2014-ST dated 05.12.2014, which empowers deputing department officers...
12 Dec 2016
Demonetization Effects - Deposits In Bank Accounts – Proceeds Of Crime And The Honey Trap Of Money Laundering
Recently, the Government of India has tabled The Taxation Laws (Second Amendment) Bill, 2016, as Money Bill, in the Lok Sabha and the same was passed in the Lok Sabha.
12 Dec 2016
CBEC Amends Provisions WRT Taxability Of "Online Information And Database Access Or Retrieval Services"
The Central Board of Excise and Customs ('CBEC') has recently issued series of notifications clarifying the taxability of OIDAR services, effective from 01.12.2016.
9 Dec 2016
Black Money - Demonetization Of ₹ 500 & ₹ 1000 - Law & Criminal Prosecutions
Sizzling!, is the word that can describe the current relationship of the Government of India, Income Tax Authorities, and those who have failed to disclose their income.
14 Nov 2016
Black Money - Foreign Bank Accounts & Criminal Prosecutions Under The (Indian) Income Tax Act
Hot!, is the word that can describe the current relationship of the Government of India, Income Tax Authorities, and those who have made disclosure of Foreign Bank accounts under The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.
21 Jul 2016
Indirect Tax Alert - July 2016
The Central Government has granted relief to assesses plagued by the recovery methods adopted by the tax authorities vide CBEC Circular No. 1035/23/2016-CX dated July 4, 2016.
14 Jul 2016
The Income Declaration Scheme, 2016
Vide Finance Act, 2016, the Government inserted Chapter-IX providing for Income Declaration Scheme'2016 (‘the Scheme').
7 Jul 2016
Registration Under Section 12AA Of The IT Act – Proviso To Section 2(15) Has No Bearing On The Grant Or Denial Of Registration
In that case, the assessee trust, incorporated under Punjab Town Improvement Act, 1922, filed application seeking registration under Section 12AA of the Act, which was rejected by CIT.
16 Nov 2015
Relevant Dates For Compliance Window Under Black Money Act Notified
The Government has by Press Release dated July 1, 2015 notified the date for compliance under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 ("Black Money Act") as September 30, 2015.
16 Nov 2015
Offshore Sale Of Equipment And Supply Of Designs/Drawings Held Not Taxable In India
In view thereof and the reasoning mentioned above with regard to income from sale of equipment, the Tribunal held that the business income earned by the assessee from the sale of designs and drawings was also not liable to tax in India both under the provisions of the Act and DTAA
19 Oct 2015
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