itatonline
Kone Elevator India Pvt. Ltd vs. State of T. N (Supreme Court - 5 Judge Bench) on itatonline.org!
Tentative/Sporadic:
CAclub
Work contract tax - CAclubindia
BL
Frivolous litigation, led by the government, is one of the reasons India ranks low in the ease of doing business index »Double ‘-‘ one ‘+’
At Random :
Frivolous, in fructuous, endless, inconclusive, vexatious, think of any other- will find to aptly fit in.
Not only in the realm of IT Law.
The root cause of it all, if cared to, lies in the utmost inept and mindless drafting, as evidenced by the inevitable complexity and complicity experienced/demonstrated in administration and adjudication. Suggest a hidden collusion and deliberate aim at proliferation of, to reach the horizon!
Consider for instance the new innovation – recently enacted company code.
A cursory or random but insightful glance is bound to throw up any number of patently clumsy drafting, having in store the glaring potential for ‘litigation’; examples >
1. Chaps. XXVII AND XXVIII – COPIOUS SCOPE KEPT AJAR
2. SEC 227 – ALMOST A BLANKET BUT UNWARRANTED PROTECTION - RATIONALE?
3. SEC 245 – AMONG VERY MANY OTHERS, SUB-SECTION (9) – RATIONALE BEHIND EXCLUDING BANKING COMPANY FROM THE PURVIEW ?
4. SEC 423 – APPEAL TO SC – ‘QUESTION OF LAW’ – MEANING /SCOPE?
TG
why not same proactivism or coordination between bureaucracy similarly evinced in other matters entailing pi????
BL
CAs X Taxaudits
Auditors feel the heat: Special meeting convened to discuss new tax rules
prev.
itatonline
sec 80 IB
Reaed On >
add spice ! >
CBDT
Creates Action Plan For Timely Disposal Of Important Matters
Kone Elevator India Pvt. Ltd vs. State of T. N (Supreme Court - 5 Judge Bench) on itatonline.org!
Tentative/Sporadic:
One is not at all clear , much less can venture and
say definitively to what extent or in what manner the ratio of the SC
‘s changed opinion on the two basic concepts of ‘sale’ and ‘works’
contract, or such similar likely developments in judge made law, is
going to influence or impact the prevailing controversies galore in
relation to other types of activities as well e.g. ‘construction’ (of
say, immovable property of the kind- ‘flats’). And, likewise, what is in
store after the long o/s enactment viz. on GST happens is well-nigh
impossible to fore-see or -say. But, the strong indications , as may be
well imagined, it appears, are towards an inevitable escalation of the
vexing divide even now prevalent in the matter of revenue sharing
between the Union and the States. In short, any hope on stability or
uniformity in the understanding, interpretation and implementation of such or other
related / connected tax legislation, be it of the Union or States,
might turn out to be, and remain as ever before, a pipe dream.
Over to equipped and enlightened ‘experts’ for an in-depth deliberation, on profoundly useful lines.
CAclub
Work contract tax - CAclubindia
BLOPINION
We don’t need no litigation
Frivolous litigation, led by the government, is one of the reasons India ranks low in the ease of doing business index »Double ‘-‘ one ‘+’At Random :
Frivolous, in fructuous, endless, inconclusive, vexatious, think of any other- will find to aptly fit in.
Not only in the realm of IT Law.
The root cause of it all, if cared to, lies in the utmost inept and mindless drafting, as evidenced by the inevitable complexity and complicity experienced/demonstrated in administration and adjudication. Suggest a hidden collusion and deliberate aim at proliferation of, to reach the horizon!
Consider for instance the new innovation – recently enacted company code.
A cursory or random but insightful glance is bound to throw up any number of patently clumsy drafting, having in store the glaring potential for ‘litigation’; examples >
1. Chaps. XXVII AND XXVIII – COPIOUS SCOPE KEPT AJAR
2. SEC 227 – ALMOST A BLANKET BUT UNWARRANTED PROTECTION - RATIONALE?
3. SEC 245 – AMONG VERY MANY OTHERS, SUB-SECTION (9) – RATIONALE BEHIND EXCLUDING BANKING COMPANY FROM THE PURVIEW ?
4. SEC 423 – APPEAL TO SC – ‘QUESTION OF LAW’ – MEANING /SCOPE?
TG
|
Posted: 12 Apr 2014 08:42 PM PDT
|
BL
CAs X Taxaudits
Auditors feel the heat: Special meeting convened to discuss new tax rules
prev.
itatonline
sec 80 IB
CIT vs. Moon Star Developers (Gujarat High Court)
S. 80-IB(10): If developer does not (without just cause) develop to full extent of FSI, a part of the sale proceeds has to treated as being for sale of FSI and denied s. 80-IB(10) deduction
Stranger Than Fiction - why say so ?Reaed On >
The CBDT has issued Circular No.
08/2014 dated 30.03.2014 to deal with the controversial topic as to whether, if
the income of the firm is Nil on account of an exemption under Chapter III or
deduction under Chapter VI-A of the Act, the partners will also be entitled to
claim exemption u/s 10(2A) of the Act with respect to their share in the
profits of the firm. The CBDT has clarified that the term “total income” in s.
10(2A) includes income which is exempt or deductible under various provisions
of the Act. It is stated that the income of a firm is taxable only in the hands
of the firm and can under no circumstances be taxed in the hands of the
partner. The CBDT has made it clear that the entire income credited to the
partners’ account in the firm would be exempt from tax in the hands of the
partners, even if the firm is also not chargeable to tax on account of an
exemption or deduction (Read analysis of Circular in Business
Standard).
refer the '1' comm @BS > www.taxpartnersuk.com
refer the '1' comm @BS > www.taxpartnersuk.com
CBDT
Creates Action Plan For Timely Disposal Of Important Matters
The CBDT has, in a letter dated
31.03.2014 to Chief Commissioners, set out a “Central Action Plan” for the
April to June 2014 Quarter. The said Action Plan sets out a time frame for
handling several important issues such as correction of demand, recovery of
demand, disposal of high-demand appeals by CIT(A), completion of s. 147
assessments etc, etc. The Chief Commissioners have been directed to circulate
the said Action Plan amongst the officers for necessary action.
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