Articles by Vivek Jalan
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Bombay High Court dissects taxability on 'accrual' concept, when a dispute is under judicial purview
Mesne profits, which are yet to be determined, do not come within the purview of an accrued income for the purposes of Section 4 and 5 of the Income Tax Act till the judgment regarding civil dispute was rendered in this regard.
Non-filing of ITR can lead to prosecution
Taxpayers are now witnessing a new era where economic offenses are no more taken with an attitude of "Letting things be". Tax Professionals should also change accordingly and ensure that tax compliances are in order.
Should employees suffer incase the employer defaults in payment of TDS?
On 15.07.2014, Karnataka High Court in ITA 165/2012 directed the revenue authorities to recover TDS amounting to Rs.302 crores from the Kingfisher airlines. On 18.11.2016, the Kingfisher Airlines Limited was ordered to be wound up by the Karnataka High Court.
CBDT redefines intra-group loans and amends safe harbour norms for MNC group transactions
The CBDT vide Notification No. 104/2023 dated December 19, 2023, issued the Income-tax (Twenty-Ninth Amendment) Rules, 2023, amending Rules 10TA and 10TD of the Income Tax Rules, 1962 ("the IT Rules").
Minimum thirty days to be provided to reply to a GST SCN
Going to Tribunal under GST requires 30% pre-deposit. Moving to High Court in each case requires hefty charges which may be affordable in some cases but not in all cases.
Higher GST charged by the Vendor: ITC as well as refund available to the recipient
Consider the situation where the input product was chargeable only at the rate of 5% and assesses supplier mistakenly charged higher rate of 18% GST on input for final product, which is chargeable to lower rate of GST of 5%
Conditions for Blocking ITC u/s 86A Demand Strong Cases and Due Process for Taxpayers
Blocking of ITC u/s 86A is possible only when the officer has a strong case; opportunity of being heard has to be provided to the taxpayer also
Department's Interest Timer on Tax Refunds Post-Appellate Victory at 60 Days
Department's interest meter on refunds keeps ticking after 60 days of application... if taxpayer wins in appellate proceedings
Litigation on RCM on Expat Salary: Northern Operating Systems Case under GST - High Courts and CBIC Intervene
After the decision of The Hon'ble Supreme Court in Northern Operating System in the Service tax regime, across the Country taxpayers are calculating their exposure under GST.
CSR expenditure is allowable u/s 80G of IT Act - On the maxim of 'Expressio Unius Esl Exclusio Alterius'
Allowability of CSR expenditure has been sealed after Explanation 2 to Section 37(1) was inserted in the Income tax Act 1961 w.e.f. 1.4.2015.
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