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Rav Singh
SAAR v/s GAAR: Inauguration of an Interpretive Dilemma
In a recent decision, the Telangana High Court dismissed petitioner’s contention that General Anti-Avoidance Rule (‘GAAR’) cannot be applied by the Income Tax Department since the impugned fact situation is apparently covered by Specific Anti-Avoidance Rule… Read More »SAAR v/s GAAR: Inauguration of an Interpretive Dilemma
Yin-Yang Nature of ITC and Supplier-Purchaser Obligations
In a recent decision, the Kerala High Court upheld constitutionality of Section 16, CGST, 2017, specifically Section 16(2)(c) which restricts the ITC of a purchasing dealer (‘purchaser’) if the supplier has not remitted tax collected from… Read More »Yin-Yang Nature of ITC and Supplier-Purchaser Obligations
Section 71(3A), IT Act, 1961 is Constitutional: Delhi HC
In a recent judgment, the Delhi High Court held that Section 71(3A), IT Act, 1961 was constitutional and did not violate Art 14 and/or Art 19(1)(g) of the Constitution. The High Court’s primary reasoning was that… Read More »Section 71(3A), IT Act, 1961 is Constitutional: Delhi HC
Section 54, IT Act, 1961: A Short Note on its Evolution
Section 54, IT Act, 1961 provides exemption from capital gains tax if an assessee sells residential house and reinvests the capital gains in another residential house. While core of the Section 54 has remained unaltered,… Read More »Section 54, IT Act, 1961: A Short Note on its Evolution
Powers of Arrest under GST: Unravelling the Phrase ‘Committed an Offence’
CGST Act, 2017 provides the Commissioner power to arrest under specific circumstances. Section 69, CGST Act, 2017 states that: Where the Commissioner has reasons to believe that a person committed any offence specified in clause (a) or… Read More »Powers of Arrest under GST: Unravelling the Phrase ‘Committed an Offence’
Tax Treatment of Mandatory CSR: Alignment of CGST Act, 2017 and IT Act, 1961
In this article, I elaborate on one of the several changes introduced by Finance Act, 2023 to CGST Act, 2017. Section 17, CGST Act, 2017 was amended via Finance Act, 2023 to clarify that the… Read More »Tax Treatment of Mandatory CSR: Alignment of CGST Act, 2017 and IT Act, 1961
Dividend Distribution or Reduction of Share Capital: DDT’s Long Shadow on Cognizant
Dividend Distribution Tax (‘DDT’) – abolished in April 2020 – was one of the most contested taxes in India as it taxed dividends in hands of companies which distributed dividends. Making companies liable to pay… Read More »Dividend Distribution or Reduction of Share Capital: DDT’s Long Shadow on Cognizant
Taxation of Perquisites: SC Rules on Constitutionality
Challenge In a recent judgment, the Supreme Court ruled on constitutionality of Section 17(2)(viii), IT Act, 1961 and Rule 3(7)(i), IT Rules, 1962 which include concession loans under perquisites and provided for their valuation respectively. Section… Read More »Taxation of Perquisites: SC Rules on Constitutionality