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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 (‘SAAR’). And that the relevant SAAR provision – Section 94(8) – specifically excludes the impugned… Read More »SAAR v/s GAAR: Inauguration of an Interpretive Dilemma 

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 clause (b) or clause (c) or clause (d) of sub-section (1) of section 132 which… Read More »Powers of Arrest under GST: Unravelling the Phrase ‘Committed an Offence’

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 dividend tax was opposite to widely followed classical system of dividend taxation wherein dividends are… 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 17(2) defines perquisites to include various perks under different clauses. Section 17(2)(viii) is a residuary… Read More »Taxation of Perquisites: SC Rules on Constitutionality

Tax Exemption v/s Tax Exemption for ‘Beneficial Purpose’: Interpretive Dilemmas 

The thumb rule in interpreting a tax statute is that it must be strictly construed and any ambiguities in statutory provisions are resolved in favor of the taxpayer. However, the rule relating to interpretation of ambiguities is only applicable for charging provisions or provisions that provide authority to levy tax.… Read More »Tax Exemption v/s Tax Exemption for ‘Beneficial Purpose’: Interpretive Dilemmas