Articles by Vivek Jalan

Decoding Section 143(2): Why Issuance of Notice is Crucial for Valid Assessments

Posted by Vivek Jalan 24 January 2024 2409 Views

Issuance of notice u/s 143(2) is mandatory and non-compliance of the same will result in nullifying the assessment orders

Bombay High Court dissects taxability on 'accrual' concept, when a dispute is under judicial purview

Posted by Vivek Jalan 20 January 2024 1176 Views

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

Posted by Vivek Jalan 18 January 2024 4786 Views

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?

Posted by Vivek Jalan 18 January 2024 2463 Views

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

Posted by Vivek Jalan 04 January 2024 1969 Views

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

Posted by Vivek Jalan 27 December 2023 2376 Views

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

Posted by Vivek Jalan 27 December 2023 3475 Views

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

Posted by Vivek Jalan 22 December 2023 3580 Views

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

Posted by Vivek Jalan 19 December 2023 799 Views

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

Posted by Vivek Jalan 18 December 2023 3047 Views

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.