Taxmann's Tax Practice Manual
1,257 views
66 slides
Jul 23, 2021
Slide 1 of 66
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
About This Presentation
Tax Practice Manual is an exhaustive (2,100+ pages), amended (by the Finance Act, 2021) & practical guide (330+ case studies) for Tax Professionals.
This book will be helpful for the Chartered Accountants, Lawyers/Advocates, Tax Practitioners to assist them in their day-to-day tax works.
This bo...
Slide Content
HARDBOUND
© Taxmann
Price : ` 895
First Published : December 2020
Published by :
Taxmann Publications (P.) Ltd.
Sales & Marketing :
59/32, New Rohtak Road, New Delhi-110 005 India
Phone : +91-11-45562222
Website : www.taxmann.com
E-mail : [email protected]
Regd. Office :
21/35, West Punjabi Bagh, New Delhi-110 026 India
Printed at :
Tan Prints (India) Pvt. Ltd.
44 Km. Mile Stone, National Highway, Rohtak Road
Village Rohad, Distt. Jhajjar (Haryana) India
E-mail : [email protected]
Disclaimer
Every effort has been made to avoid errors or omissions in this publication. In spite
of this, errors may creep in. Any mistake, error or discrepancy noted may be brought
to our notice which shall be taken care of in the next edition. It is notified that
neither the publisher nor the author or seller will be responsible for any damage or
loss of action to any one, of any kind, in any manner, therefrom. It is suggested that
to avoid any doubt the reader should cross-check all the facts, law and contents of
the publication with original Government publication or notifications.
The author has not revealed any confidential facts about any company in the case
studies cited herein. Therefore, no part of this book may be reproduced in any
arbitration or in courts or legal forum as an evidence for actions and defaults since
the cases studies are included as examples for academic purpose only. Care has been
taken that no identity of any organization or person is revealed here. The author has
used his general knowledge, creativity and innovative ideas to express the theme of
disputes through the examples of case studies in India and abroad. Resemblance to
any actual case or incidence may be a mere coincidence.
No part of this book may be reproduced or copied in any form or by any means
[graphic, electronic or mechanical, including photocopying, recording, taping, or
information retrieval systems] or reproduced on any disc, tape, perforated media
or other information storage device, etc., without the written permission of the
publishers. Breach of this condition is liable for legal action.
For binding mistake, misprints or for missing pages, etc., the publisher’s liability
is limited to replacement within seven days of purchase by similar edition. All
expenses in this connection are to be borne by the purchaser.
All disputes are subject to Delhi jurisdiction only.
Price : ` 895
First Published : December 2020
Published by :
Taxmann Publications (P.) Ltd.
Sales & Marketing :
59/32, New Rohtak Road, New Delhi-110 005 India
Phone : +91-11-45562222
Website : www.taxmann.com
E-mail : [email protected]
Regd. Office :
21/35, West Punjabi Bagh, New Delhi-110 026 India
Printed at :
Tan Prints (India) Pvt. Ltd.
44 Km. Mile Stone, National Highway, Rohtak Road
Village Rohad, Distt. Jhajjar (Haryana) India
E-mail : [email protected]
Disclaimer
Every effort has been made to avoid errors or omissions in this publication. In spite
of this, errors may creep in. Any mistake, error or discrepancy noted may be brought
to our notice which shall be taken care of in the next edition. It is notified that
neither the publisher nor the author or seller will be responsible for any damage or
loss of action to any one, of any kind, in any manner, therefrom. It is suggested that
to avoid any doubt the reader should cross-check all the facts, law and contents of
the publication with original Government publication or notifications.
The author has not revealed any confidential facts about any company in the case
studies cited herein. Therefore, no part of this book may be reproduced in any
arbitration or in courts or legal forum as an evidence for actions and defaults since
the cases studies are included as examples for academic purpose only. Care has been
taken that no identity of any organization or person is revealed here. The author has
used his general knowledge, creativity and innovative ideas to express the theme of
disputes through the examples of case studies in India and abroad. Resemblance to
any actual case or incidence may be a mere coincidence.
No part of this book may be reproduced or copied in any form or by any means
[graphic, electronic or mechanical, including photocopying, recording, taping, or
information retrieval systems] or reproduced on any disc, tape, perforated media
or other information storage device, etc., without the written permission of the
publishers. Breach of this condition is liable for legal action.
For binding mistake, misprints or for missing pages, etc., the publisher’s liability
is limited to replacement within seven days of purchase by similar edition. All
expenses in this connection are to be borne by the purchaser.
All disputes are subject to Delhi jurisdiction only.
PAGE
About the Author I-5
Preface to Seventh Edition I-7
Prelude I-9
New due dates for various compliances under the Income-tax Act I-29
Significant Amendments made by the Finance Act, 2021 I-37
Direct Tax Vivad se Vishwas Act, 2020 I-97
Chapter-Heads I-103
Book One : Law Relating
to Tax Procedures
DIVISION ONE
Tax Practice
1.1 TAX PRACTICE
1.1.1General 4
1.1.2Setting and achieving goals 5
1.1.3Dynamics of tax practice 5
1.1.4Scope of tax practice 8
1.1.5Options of organization 9
1.1.6War-like jobs (facing the rough weather) 11
1.1.7Marshalling facts with evidence 12
1.1.8Drafting and carrying conviction 12
1.1.9Peace-time jobs 12
1.1.10Delegation by seniors 13
1.1.11Gems of Wisdom, gathered from various books 14
I-129
Contents
About the Author I-5
Preface to Seventh Edition I-7
Prelude I-9
New due dates for various compliances under the Income-tax Act I-29
Significant Amendments made by the Finance Act, 2021 I-37
Direct Tax Vivad se Vishwas Act, 2020 I-97
Chapter-Heads I-103
Book One : Law Relating
to Tax Procedures
DIVISION ONE
Tax Practice
1.1 TAX PRACTICE
1.1.1General 4
1.1.2Setting and achieving goals 5
1.1.3Dynamics of tax practice 5
1.1.4Scope of tax practice 8
1.1.5Options of organization 9
1.1.6War-like jobs (facing the rough weather) 11
1.1.7Marshalling facts with evidence 12
1.1.8Drafting and carrying conviction 12
1.1.9Peace-time jobs 12
1.1.10Delegation by seniors 13
1.1.11Gems of Wisdom, gathered from various books 14
I-129
Contents
#/.4%.43
I-130
PAGE
1.2 TAX PRACTITIONER
1.2.1A tax practitioner 15
1.2.2Authorized representative 16
1.2.3Authorization 17
1.2.4Registration as ITP (Income Tax Practitioner) 18
1.2.53HUVRQVGLVTXDOL¿HGWRUHSUHVHQW19
1.2.6Personality 19
1.2.7Time management 20
1.2.8Read more, read extra and grow rich 22
1.2.9Succession planning 22
1.2.10Gems of Wisdom, about personal qualities - In alphabetical
order, gathered from various books
23
1.3 TAX ENGAGEMENTS
1.3.1Scope of work 26
1.3.2Remuneration and terms of payment 27
1.3.3Engagement letter - Contents 27
1.4 RELATIONSHIP WITH CLIENT
1.4.1What a client needs from his consultant? 28
1.4.2The client to be sought after 29
1.4.3:HOOGH¿QHGUHODWLRQVKLS 29
1.4.4Adequate reward for services 30
1.4.5Billing - Recurring, non-recurring jobs 31
1.4.6&RPPXQLFDWH<RXUVDFUL¿FHVDQGDFKLHYHPHQWV32
1.4.7Be worldly wise 32
1.4.8Collection of dues 33
1.4.9New client 34
1.4.10Case preparation 35
1.4.11Client education (Circulars to clients, reminders to client for
due dates etc.)
38
1.4.12Original record with client or with tax practitioner 38
1.4.135HWXUQLQJROG¿OHVDFFRXQWERRNVHWF39
1.4.14Client’s money (Imprest) 39
1.4.15Maintaining safe distance 39
1.4.16Professional negligence 44
I-130
PAGE
1.2 TAX PRACTITIONER
1.2.1A tax practitioner 15
1.2.2Authorized representative 16
1.2.3Authorization 17
1.2.4Registration as ITP (Income Tax Practitioner) 18
1.2.53HUVRQVGLVTXDOL¿HGWRUHSUHVHQW19
1.2.6Personality 19
1.2.7Time management 20
1.2.8Read more, read extra and grow rich 22
1.2.9Succession planning 22
1.2.10Gems of Wisdom, about personal qualities - In alphabetical
order, gathered from various books
23
1.3 TAX ENGAGEMENTS
1.3.1Scope of work 26
1.3.2Remuneration and terms of payment 27
1.3.3Engagement letter - Contents 27
1.4 RELATIONSHIP WITH CLIENT
1.4.1What a client needs from his consultant? 28
1.4.2The client to be sought after 29
1.4.3:HOOGH¿QHGUHODWLRQVKLS 29
1.4.4Adequate reward for services 30
1.4.5Billing - Recurring, non-recurring jobs 31
1.4.6&RPPXQLFDWH<RXUVDFUL¿FHVDQGDFKLHYHPHQWV32
1.4.7Be worldly wise 32
1.4.8Collection of dues 33
1.4.9New client 34
1.4.10Case preparation 35
1.4.11Client education (Circulars to clients, reminders to client for
due dates etc.)
38
1.4.12Original record with client or with tax practitioner 38
1.4.135HWXUQLQJROG¿OHVDFFRXQWERRNVHWF39
1.4.14Client’s money (Imprest) 39
1.4.15Maintaining safe distance 39
1.4.16Professional negligence 44
I-131 #/.4%.43
PAGE
1.5 OFFICE MANAGEMENT
1.5.1System strength 50
1.5.22I¿FH 51
1.5.3HR - Manpower 54
1.5.4Filing and storage 60
1.5.5Computer and its usage 64
1.5.6E-mail 67
1.5.7(I¿FLHQF\WRROV 68
1.5.8Support system 70
1.5.9Finance 77
DIVISION TWO
Pre-assessment procedures
2.1 ADVANCE TAX & SELF ASSESSMENT TAX
2.1.1Why advance tax? 80
2.1.2Assessee liable to pay suo motu 81
2.1.3$VVHVVLQJ2I¿FHUPD\UHTXLUHWRSD\81
2.1.4Amount payable 83
2.1.5Due dates for payment of advance tax 83
2.1.6Consequences of default in payment of advance tax 84
2.1.7No appropriation of seized assets for advance tax 84
2.1.8Liability to pay self assessment tax 84
2.1.9Computation of self assessment tax 85
2.1.10Time for payment of self assessment tax 85
2.1.11Default in payment of self assessment tax 85
2.2 RETURN OF INCOME
2.2.1Return of Income - General 86
2.2.22EOLJDWLRQWR¿OHUHWXUQRILQFRPH87
2.2.3'XH'DWHIRU¿OLQJ,QFRPH7D[5HWXUQ89
2.2.4Consequences for non-compliance of due dates of sec. 139(1)90
2.2.55HWXUQRILQFRPHRIVSHFL¿HGSHUVRQV90
2.2.6Loss return u/s 139(3) 93
2.2.7Belated return u/s 139(4) 94
2.2.8Revised return u/s 139(5) 94
PAGE
1.5 OFFICE MANAGEMENT
1.5.1System strength 50
1.5.22I¿FH 51
1.5.3HR - Manpower 54
1.5.4Filing and storage 60
1.5.5Computer and its usage 64
1.5.6E-mail 67
1.5.7(I¿FLHQF\WRROV 68
1.5.8Support system 70
1.5.9Finance 77
DIVISION TWO
Pre-assessment procedures
2.1 ADVANCE TAX & SELF ASSESSMENT TAX
2.1.1Why advance tax? 80
2.1.2Assessee liable to pay suo motu 81
2.1.3$VVHVVLQJ2I¿FHUPD\UHTXLUHWRSD\81
2.1.4Amount payable 83
2.1.5Due dates for payment of advance tax 83
2.1.6Consequences of default in payment of advance tax 84
2.1.7No appropriation of seized assets for advance tax 84
2.1.8Liability to pay self assessment tax 84
2.1.9Computation of self assessment tax 85
2.1.10Time for payment of self assessment tax 85
2.1.11Default in payment of self assessment tax 85
2.2 RETURN OF INCOME
2.2.1Return of Income - General 86
2.2.22EOLJDWLRQWR¿OHUHWXUQRILQFRPH87
2.2.3'XH'DWHIRU¿OLQJ,QFRPH7D[5HWXUQ89
2.2.4Consequences for non-compliance of due dates of sec. 139(1)90
2.2.55HWXUQRILQFRPHRIVSHFL¿HGSHUVRQV90
2.2.6Loss return u/s 139(3) 93
2.2.7Belated return u/s 139(4) 94
2.2.8Revised return u/s 139(5) 94
#/.4%.43
I-132
PAGE
2.2.9Defective return u/s 139(9) 95
2.2.10Income tax returns : Forms 97
2.2.11(OHFWURQLF¿OLQJRIUHWXUQV 99
2.2.12Annexure - Less returns of income 101
2.2.13Tax return preparers 102
2.2.14Who to sign the return u/s 140? 102
2.3 PAN - PERMANENT ACCOUNT NUMBER TAN - TAX
DEDUCTION AND COLLECTION ACCOUNT NUMBER
2.3.1General : Permanent Account No. 105
2.3.2Evolution of PAN 105
2.3.3Features of PAN 106
2.3.4Contents of PAN card 107
2.3.5Objectives sought from PAN 107
2.3.6General : Tax deduction and collection account No. 107
2.3.7Application for allotment of PAN 108
2.3.8Application for allotment of TAN 109
2.3.9Online application - PAN/TAN 109
2.3.10Compulsory quoting of PAN on certain transactions 111
2.3.11Compulsory quoting of TAN on certain transactions 113
2.3.12Penalty on non-compliance of PAN/TAN provisions 113
2.3.13Correction/change in PAN/TAN data 113
2.3.14Pan Aadhaar interchangeability and portability 113
DIVISION THREE
Assessment
3.0 PROCEEDINGS IN A FACELESS MANNER
3.1 ASSESSMENT - PRINCIPLES & ISSUES
3.1.1Jurisdiction 122
3.1.2Principles of natural justice 125
3.1.3Burden of proof, onus and shifting of burden 126
3.1.4Deeming provisions 128
3.1.5Previous year 130
3.1.6CBDT circulars 130
3.1.7Res judicata 131
3.1.8Notice 132
I-132
PAGE
2.2.9Defective return u/s 139(9) 95
2.2.10Income tax returns : Forms 97
2.2.11(OHFWURQLF¿OLQJRIUHWXUQV 99
2.2.12Annexure - Less returns of income 101
2.2.13Tax return preparers 102
2.2.14Who to sign the return u/s 140? 102
2.3 PAN - PERMANENT ACCOUNT NUMBER TAN - TAX
DEDUCTION AND COLLECTION ACCOUNT NUMBER
2.3.1General : Permanent Account No. 105
2.3.2Evolution of PAN 105
2.3.3Features of PAN 106
2.3.4Contents of PAN card 107
2.3.5Objectives sought from PAN 107
2.3.6General : Tax deduction and collection account No. 107
2.3.7Application for allotment of PAN 108
2.3.8Application for allotment of TAN 109
2.3.9Online application - PAN/TAN 109
2.3.10Compulsory quoting of PAN on certain transactions 111
2.3.11Compulsory quoting of TAN on certain transactions 113
2.3.12Penalty on non-compliance of PAN/TAN provisions 113
2.3.13Correction/change in PAN/TAN data 113
2.3.14Pan Aadhaar interchangeability and portability 113
DIVISION THREE
Assessment
3.0 PROCEEDINGS IN A FACELESS MANNER
3.1 ASSESSMENT - PRINCIPLES & ISSUES
3.1.1Jurisdiction 122
3.1.2Principles of natural justice 125
3.1.3Burden of proof, onus and shifting of burden 126
3.1.4Deeming provisions 128
3.1.5Previous year 130
3.1.6CBDT circulars 130
3.1.7Res judicata 131
3.1.8Notice 132
I-133 #/.4%.43
PAGE
3.1.9Service of notice 134
3.1.10Adjournment 138
3.1.11Order sheet 138
3.1.12$I¿GDYLW 139
3.1.13Statement on oath 139
3.1.14Capital v. Revenue 142
3.1.15Business expediency 144
3.1.16Method of accounting - Sec. 145 145
3.1.17Stock in trade 146
3.1.18Effect of book entries on accrual of income 147
3.1.19Benami, sham and bogus 148
3.1.20Cash credits 149
3.1.21Intangible additions 155
3.1.22Unexplained investment and expenditure 156
3.1.23Peak/roll over effect 159
3.1.24Dumb document 159
3.1.25Surrender, confession and retraction 160
3.1.26Meaning of assessment 161
3.1.273RZHUVRI$VVHVVLQJ2I¿FHU 162
3.1.28$VVHVVLQJ2I¿FHU¶V'XW\ 163
3.1.29Arbitrariness 164
3.1.30,QGHSHQGHQFHRI$VVHVVLQJ2I¿FHU165
3.1.31Notices u/s 142 165
3.1.32Special audit u/s 142(2A) 168
3.1.33(VWLPDWHE\YDOXDWLRQRI¿FHUXV$169
3.1.34Common areas of enquiry 170
3.1.35Protective assessment 171
3.1.36Directions by joint CIT u/s 144A 172
3.1.37Concept of ‘Reasons to believe’ eliminated 173
3.1.38Reasons to be recorded and objections 179
3.1.39Limitation for assessment & reassessment 180
3.1.40Remedies upon unacceptable assessment order 187
3.1.41Tips & Traps 187
3.2 SUMMARY ASSESSMENT
3.2.1Intimation u/s 143(1) 191
PAGE
3.1.9Service of notice 134
3.1.10Adjournment 138
3.1.11Order sheet 138
3.1.12$I¿GDYLW 139
3.1.13Statement on oath 139
3.1.14Capital v. Revenue 142
3.1.15Business expediency 144
3.1.16Method of accounting - Sec. 145 145
3.1.17Stock in trade 146
3.1.18Effect of book entries on accrual of income 147
3.1.19Benami, sham and bogus 148
3.1.20Cash credits 149
3.1.21Intangible additions 155
3.1.22Unexplained investment and expenditure 156
3.1.23Peak/roll over effect 159
3.1.24Dumb document 159
3.1.25Surrender, confession and retraction 160
3.1.26Meaning of assessment 161
3.1.273RZHUVRI$VVHVVLQJ2I¿FHU 162
3.1.28$VVHVVLQJ2I¿FHU¶V'XW\ 163
3.1.29Arbitrariness 164
3.1.30,QGHSHQGHQFHRI$VVHVVLQJ2I¿FHU165
3.1.31Notices u/s 142 165
3.1.32Special audit u/s 142(2A) 168
3.1.33(VWLPDWHE\YDOXDWLRQRI¿FHUXV$169
3.1.34Common areas of enquiry 170
3.1.35Protective assessment 171
3.1.36Directions by joint CIT u/s 144A 172
3.1.37Concept of ‘Reasons to believe’ eliminated 173
3.1.38Reasons to be recorded and objections 179
3.1.39Limitation for assessment & reassessment 180
3.1.40Remedies upon unacceptable assessment order 187
3.1.41Tips & Traps 187
3.2 SUMMARY ASSESSMENT
3.2.1Intimation u/s 143(1) 191
#/.4%.43
I-134
PAGE
3.2.2Roots of such an assessment 191
3.2.3Changes in policy 191
3.2.4Acknowledgement of return 192
3.2.5Changes made by Finance Act, 2008 192
3.2.6Law w.e.f. 1-6-1999 192
3.2.7Changes made by Finance Act, 2003 192
3.2.87RFKHFNWKHLQWLPDWLRQWR¿QGHUURUV192
3.2.9Changes made by Finance Act, 2008 193
3.3 SCRUTINY ASSESSMENT
3.3.1Objective 196
3.3.2Process starts with issue of notice u/s 143(2) 196
3.3.3Service of notice 197
3.3.4Time for service 197
3.3.5Time limit for completion of assessment 197
3.3.6Relaxation in time limit (Covid-19) 198
3.3.7Criteria for selection 199
3.3.8Principles and procedures 200
3.4 POST-SEARCH ASSESSMENT
3.4.1Purpose 201
3.4.2Powers of search and seizure 201
3.4.3Genesis of post-search assessment 201
3.4.4Comparison 202
3.4.5Need for special provisions 205
3.5 BEST JUDGMENT ASSESSMENT
3.5.1Meaning and purpose 207
3.5.2Faceless assessment 208
3.5.3Sec. 143(2) vis-a-vis sec. 143(3) 208
3.5.4Similar treatment if sec. 145 invoked 208
3.5.5Special opportunity to the assessee 209
3.5.6Best judgment vis-à-vis arbitrariness 209
3.5.7Case laws 209
3.6 ASSESSMENT ORDER
3.6.1Refer Division 3.1 Assessment - Principles & Issues and in
particular to the undernoted portions
211
3.6.2Contents of an assessment order 212
I-134
PAGE
3.2.2Roots of such an assessment 191
3.2.3Changes in policy 191
3.2.4Acknowledgement of return 192
3.2.5Changes made by Finance Act, 2008 192
3.2.6Law w.e.f. 1-6-1999 192
3.2.7Changes made by Finance Act, 2003 192
3.2.87RFKHFNWKHLQWLPDWLRQWR¿QGHUURUV192
3.2.9Changes made by Finance Act, 2008 193
3.3 SCRUTINY ASSESSMENT
3.3.1Objective 196
3.3.2Process starts with issue of notice u/s 143(2) 196
3.3.3Service of notice 197
3.3.4Time for service 197
3.3.5Time limit for completion of assessment 197
3.3.6Relaxation in time limit (Covid-19) 198
3.3.7Criteria for selection 199
3.3.8Principles and procedures 200
3.4 POST-SEARCH ASSESSMENT
3.4.1Purpose 201
3.4.2Powers of search and seizure 201
3.4.3Genesis of post-search assessment 201
3.4.4Comparison 202
3.4.5Need for special provisions 205
3.5 BEST JUDGMENT ASSESSMENT
3.5.1Meaning and purpose 207
3.5.2Faceless assessment 208
3.5.3Sec. 143(2) vis-a-vis sec. 143(3) 208
3.5.4Similar treatment if sec. 145 invoked 208
3.5.5Special opportunity to the assessee 209
3.5.6Best judgment vis-à-vis arbitrariness 209
3.5.7Case laws 209
3.6 ASSESSMENT ORDER
3.6.1Refer Division 3.1 Assessment - Principles & Issues and in
particular to the undernoted portions
211
3.6.2Contents of an assessment order 212
I-135 #/.4%.43
PAGE
3.6.3Speaking order 212
3.6.4Similar applicability 213
3.6.5Refer Division 3.1 : Assessment - Principles and issues and in
particular to the under noted portions
213
3.7 RE-OPENING OF ASSESSMENT
3.7.1Why Re-opening? 214
3.7.2Procedure till 31.3.2021 214
3.7.3Major Reforms Introduced by Finance Act, 2021 214
3.7.4CG to formulate “Scheme” for reassessment 215
3.7.5Deemed escapement - Explanation 2 to section 147 (Applicable
upto 31-3-2021)
215
3.7.6,QIRUPDWLRQZLWKWKH$VVHVVLQJ2I¿FHUZKLFKVXJJHVWVWKDWWKH
Income chargeable to tax has escaped Assessment (w.e.f.
1-4-2021)
215
3.7.7Deemed escapement 216
3.7.8Mere production of books of account shall not be considered
as disclosure by assessee
216
3.7.9Power of AO to drop proceedings 217
3.7.10Return filed u/s 148 is at par with return filed u/s 139(1)217
3.7.11Once reopened entire year is open for scrutiny afresh 217
3.7.12Erstwhile provisions of particular year to apply 217
3.7.13Reopening to be concluded either u/s 143(3) or u/s 144 217
3.7.14Time limits 217
3.7.15Reassessment orders can be appealed against, rectified, revision
or again re-opened
217
3.7.16Generally reopening is done to collect more tax 217
3.7.17Case laws 218
3.7.18Points of distinction between the new procedure as compared
to existing provisions
224
3.8 RECTIFICATION
3.8.15HFWL¿FDWLRQRIPLVWDNH 225
3.8.2Apparent from record 226
3.8.3Hearing opportunity 226
3.8.4Limitation 226
3.8.5Remedies against order u/s 154 227
3.8.6Other amendments u/s 155 227
3.8.7The following decisions may be referred to 230
3.8.8Check List 232
PAGE
3.6.3Speaking order 212
3.6.4Similar applicability 213
3.6.5Refer Division 3.1 : Assessment - Principles and issues and in
particular to the under noted portions
213
3.7 RE-OPENING OF ASSESSMENT
3.7.1Why Re-opening? 214
3.7.2Procedure till 31.3.2021 214
3.7.3Major Reforms Introduced by Finance Act, 2021 214
3.7.4CG to formulate “Scheme” for reassessment 215
3.7.5Deemed escapement - Explanation 2 to section 147 (Applicable
upto 31-3-2021)
215
3.7.6,QIRUPDWLRQZLWKWKH$VVHVVLQJ2I¿FHUZKLFKVXJJHVWVWKDWWKH
Income chargeable to tax has escaped Assessment (w.e.f.
1-4-2021)
215
3.7.7Deemed escapement 216
3.7.8Mere production of books of account shall not be considered
as disclosure by assessee
216
3.7.9Power of AO to drop proceedings 217
3.7.10Return filed u/s 148 is at par with return filed u/s 139(1)217
3.7.11Once reopened entire year is open for scrutiny afresh 217
3.7.12Erstwhile provisions of particular year to apply 217
3.7.13Reopening to be concluded either u/s 143(3) or u/s 144 217
3.7.14Time limits 217
3.7.15Reassessment orders can be appealed against, rectified, revision
or again re-opened
217
3.7.16Generally reopening is done to collect more tax 217
3.7.17Case laws 218
3.7.18Points of distinction between the new procedure as compared
to existing provisions
224
3.8 RECTIFICATION
3.8.15HFWL¿FDWLRQRIPLVWDNH 225
3.8.2Apparent from record 226
3.8.3Hearing opportunity 226
3.8.4Limitation 226
3.8.5Remedies against order u/s 154 227
3.8.6Other amendments u/s 155 227
3.8.7The following decisions may be referred to 230
3.8.8Check List 232
#/.4%.43
I-136
PAGE
3.9 REVISION
3.9.1Nature of revision u/s 264 234
3.9.2Powers of principal Commissioner or Commissioner u/s 264 234
3.9.3Duties of principal Commissioner or Commissioner u/s 264 235
3.9.4Faceless revision of orders 235
3.9.5When an order cannot be revised u/s 264? 236
3.9.67LPHOLPLWIRU¿OLQJUHYLVLRQXV236
3.9.7Limitation for passing order u/s 264 237
3.9.8Finality of order u/s 264 237
3.9.9Why power u/s 263? 238
3.9.10Which order can be revised u/s 263? 238
3.9.11Erroneous as well as prejudicial 239
3.9.12Connotation of ‘record’ 239
3.9.13Power coupled with duty 239
3.9.14Hearing opportunity 239
3.9.15Doctrine of merger 240
3.9.16Limitation for passing order u/s 263 240
3.9.17Remedies against order u/s 263 240
3.9.18Revision effect 241
3.9.19The following decisions may be referred to 242
3.9.20Check list 251
DIVISION FOUR
Appeals
4.1 APPEALS TO CIT (APPEALS)
4.1.1What is an appeal? 254
4.1.25LJKWRI¿OLQJDQDSSHDO 254
4.1.3Appeals under income-tax Act 254
4.1.4Faceless Appeal Scheme 257
4.1.5Payment of admitted tax 258
4.1.6&KHFNOLVWIRU¿UVWDSSHDO 259
4.1.7What can be challenged? 259
4.1.8Powers of CIT (Appeals) 259
4.1.9Jurisdiction 260
I-136
PAGE
3.9 REVISION
3.9.1Nature of revision u/s 264 234
3.9.2Powers of principal Commissioner or Commissioner u/s 264 234
3.9.3Duties of principal Commissioner or Commissioner u/s 264 235
3.9.4Faceless revision of orders 235
3.9.5When an order cannot be revised u/s 264? 236
3.9.67LPHOLPLWIRU¿OLQJUHYLVLRQXV236
3.9.7Limitation for passing order u/s 264 237
3.9.8Finality of order u/s 264 237
3.9.9Why power u/s 263? 238
3.9.10Which order can be revised u/s 263? 238
3.9.11Erroneous as well as prejudicial 239
3.9.12Connotation of ‘record’ 239
3.9.13Power coupled with duty 239
3.9.14Hearing opportunity 239
3.9.15Doctrine of merger 240
3.9.16Limitation for passing order u/s 263 240
3.9.17Remedies against order u/s 263 240
3.9.18Revision effect 241
3.9.19The following decisions may be referred to 242
3.9.20Check list 251
DIVISION FOUR
Appeals
4.1 APPEALS TO CIT (APPEALS)
4.1.1What is an appeal? 254
4.1.25LJKWRI¿OLQJDQDSSHDO 254
4.1.3Appeals under income-tax Act 254
4.1.4Faceless Appeal Scheme 257
4.1.5Payment of admitted tax 258
4.1.6&KHFNOLVWIRU¿UVWDSSHDO 259
4.1.7What can be challenged? 259
4.1.8Powers of CIT (Appeals) 259
4.1.9Jurisdiction 260
I-137 #/.4%.43
PAGE
4.1.10Power to enhance 260
4.1.11No power to set aside 261
4.1.12([FOXGHGSHULRGIURPWLPHOLPLWRI¿OLQJDSSHDO262
4.1.13Condonation of delay 262
4.1.14Additional evidence 265
4.1.15Additional grounds of appeal 267
4.1.16Withdrawal of an appeal 269
4.1.17Faceless appeal effect (Sec. 264B - w.e.f. 1.11.2020) 269
4.2 APPEALS TO ITAT/HIGH COURT/SUPREME COURT
4.2.1ITAT Appeals - General 271
4.2.2ITAT - Administration 271
4.2.3ITAT - Appealable Orders 272
4.2.4,7$77LPHOLPLWIRU¿OLQJDSSHDOFURVVREMHFWLRQ276
4.2.5ITAT - Procedure for Filing Appeal 279
4.2.6ITAT - Cross Objections 280
4.2.7ITAT - Cross Appeals & Cross Objections 280
4.2.8ITAT - Withdrawal of Appeal 281
4.2.9STAY by ITAT 281
4.2.10ITAT - Paper Book, Compilation 283
4.2.11ITAT - Hearing 283
4.2.12Powers of ITAT 285
4.2.13Restrictions on powers of ITAT 286
4.2.14,7$75HFWL¿FDWLRQRIPLVWDNH288
4.2.15ITAT - Check List 290
4.2.16ITAT - Tips & Traps 291
4.2.17Faceless e-Appeal Scheme 295
4.2.18High Court Appeal 296
4.2.19Writ Jurisdiction 297
4.2.20Supreme Court Appeals 298
4.2.21Faceless Appeal effect (Sec. 264B) 298
4.3 DISPUTE RESOLUTION COMMITTEE
4.3.1
Formation of new dispute resolution committee 299
PAGE
4.1.10Power to enhance 260
4.1.11No power to set aside 261
4.1.12([FOXGHGSHULRGIURPWLPHOLPLWRI¿OLQJDSSHDO262
4.1.13Condonation of delay 262
4.1.14Additional evidence 265
4.1.15Additional grounds of appeal 267
4.1.16Withdrawal of an appeal 269
4.1.17Faceless appeal effect (Sec. 264B - w.e.f. 1.11.2020) 269
4.2 APPEALS TO ITAT/HIGH COURT/SUPREME COURT
4.2.1ITAT Appeals - General 271
4.2.2ITAT - Administration 271
4.2.3ITAT - Appealable Orders 272
4.2.4,7$77LPHOLPLWIRU¿OLQJDSSHDOFURVVREMHFWLRQ276
4.2.5ITAT - Procedure for Filing Appeal 279
4.2.6ITAT - Cross Objections 280
4.2.7ITAT - Cross Appeals & Cross Objections 280
4.2.8ITAT - Withdrawal of Appeal 281
4.2.9STAY by ITAT 281
4.2.10ITAT - Paper Book, Compilation 283
4.2.11ITAT - Hearing 283
4.2.12Powers of ITAT 285
4.2.13Restrictions on powers of ITAT 286
4.2.14,7$75HFWL¿FDWLRQRIPLVWDNH288
4.2.15ITAT - Check List 290
4.2.16ITAT - Tips & Traps 291
4.2.17Faceless e-Appeal Scheme 295
4.2.18High Court Appeal 296
4.2.19Writ Jurisdiction 297
4.2.20Supreme Court Appeals 298
4.2.21Faceless Appeal effect (Sec. 264B) 298
4.3 DISPUTE RESOLUTION COMMITTEE
4.3.1
Formation of new dispute resolution committee 299
#/.4%.43
I-138
PAGE
DIVISION FIVE
Interest, Fees, Penalty and Prosecution
5.1 INTEREST PAYABLE BY ASSESSEE
5.1.1General 303
5.1.2Mandatory and automatic 303
5.1.3Rounding off - Amount of tax 303
5.1.4Rounding off - Period 303
5.1.5Defaults for which interest becomes payable 303
5.1.6Varied interest rates for different periods 304
5.1.7Interest Payable u/s 234A 304
5.1.8Interest payable u/s 234B 305
5.1.9Interest payable u/s 234C 305
5.1.10Interest payable u/s 234D 306
5.1.11Interest payable u/ss 115P and 115S 306
5.1.12Interest payable u/ss 201(1A) and 206C(7) 307
5.1.13Interest payable u/s 220(2) 307
5.2 FEES PAYABLE BY ASSESSEE
5.2.1General 308
5.2.2Mandatory and automatic 309
5.2.3Defaults for which fees becomes payable 309
5.2.4Fees payable u/s 234E 309
5.2.5Fees payable u/s 234F as per Finance Act, 2017 309
5.2.6Fees payable u/s 234G as per Finance Act, 2020 (applicable
w.e.f. 01.06.2020)
310
5.2.7Fees Payable u/s 234H as per Finance Act, 2021 (Applicable
w.e.f. 1.4.2021)
310
5.3 PENALTIES
5.3.1Why the penalties? 312
5.3.2Fundamentals of penalties 313
5.3.3Faceless Penalty Scheme 314
5.3.4Quasi criminal 314
5.3.5Not automatic; mens rea 315
5.3.6Valid initiation 316
I-138
PAGE
DIVISION FIVE
Interest, Fees, Penalty and Prosecution
5.1 INTEREST PAYABLE BY ASSESSEE
5.1.1General 303
5.1.2Mandatory and automatic 303
5.1.3Rounding off - Amount of tax 303
5.1.4Rounding off - Period 303
5.1.5Defaults for which interest becomes payable 303
5.1.6Varied interest rates for different periods 304
5.1.7Interest Payable u/s 234A 304
5.1.8Interest payable u/s 234B 305
5.1.9Interest payable u/s 234C 305
5.1.10Interest payable u/s 234D 306
5.1.11Interest payable u/ss 115P and 115S 306
5.1.12Interest payable u/ss 201(1A) and 206C(7) 307
5.1.13Interest payable u/s 220(2) 307
5.2 FEES PAYABLE BY ASSESSEE
5.2.1General 308
5.2.2Mandatory and automatic 309
5.2.3Defaults for which fees becomes payable 309
5.2.4Fees payable u/s 234E 309
5.2.5Fees payable u/s 234F as per Finance Act, 2017 309
5.2.6Fees payable u/s 234G as per Finance Act, 2020 (applicable
w.e.f. 01.06.2020)
310
5.2.7Fees Payable u/s 234H as per Finance Act, 2021 (Applicable
w.e.f. 1.4.2021)
310
5.3 PENALTIES
5.3.1Why the penalties? 312
5.3.2Fundamentals of penalties 313
5.3.3Faceless Penalty Scheme 314
5.3.4Quasi criminal 314
5.3.5Not automatic; mens rea 315
5.3.6Valid initiation 316
I-139 #/.4%.43
PAGE
5.3.7Quantum of penalty 317
5.3.8Technical or venial breach; ERQD¿GHmistake 317
5.3.9No penalty in certain cases 319
5.3.10%HQH¿WRIGRXEW 319
5.3.11Hearing opportunity u/s 274 319
5.3.12Speaking order 320
5.3.13Types of penalties 321
5.3.14)DLOXUHGHOD\LQ¿OLQJUHWXUQRILQFRPH322
5.3.15Penalty for concealment u/s 271(1)(c) in relation to any
assessment prior to asst. year 2017-18
322
5.3.16Penalty for concealment u/ss 271AAA and 271AAB 324
5.3.17Presumptions for penalty 329
5.3.18Concealment penalty - Presumptions 329
5.3.19Assessee to prove reasonable cause - Sec. 273B 332
5.3.20Presumptions in a search or survey case - Sec. 292C 333
5.3.21Penalty for defaults - PAN, TAN 334
5.3.22Penalty for defaults - TDS and TCS 334
5.3.23Penalty for defaults - Tax payment 336
5.3.24Penalty for non-maintenance of account books etc. 336
5.3.25Penalty for defaults - Audit 336
5.3.26Penalty for defaults - Loans, deposits and cash transactions338
5.3.27Penalty for non-compliance of notices etc. 339
5.3.28Penalty for non-co-operation 339
5.3.29Penalty for defaults - International transactions 340
5.3.30Penalty for under reporting and misreporting of income u/s 270A342
5.3.313HQDOW\IRUQRQIXUQLVKLQJRILQIRUPDWLRQRQDFFRXQWRI¿QDQFLDO
transactions or reportable account
344
5.3.32Penalty in respect of certain income u/s 271AAC inserted by
Taxation Laws (Second Amendment ) Act, 2016
345
5.3.33Penalty for false entry, etc. in the books of account u/s 271AAD
(applicable w.e.f. 01.04.2020)
345
5.3.34Penalty for furnishing of incorrect information u/s 271J as per
Finance Act, 2017
346
5.3.35Penalty for failure to furnish statements, etc. u/s 271K
(Applicable w.e.f. 01.04.2020)
346
5.3.36Who can impose penalty? 347
PAGE
5.3.7Quantum of penalty 317
5.3.8Technical or venial breach; ERQD¿GHmistake 317
5.3.9No penalty in certain cases 319
5.3.10%HQH¿WRIGRXEW 319
5.3.11Hearing opportunity u/s 274 319
5.3.12Speaking order 320
5.3.13Types of penalties 321
5.3.14)DLOXUHGHOD\LQ¿OLQJUHWXUQRILQFRPH322
5.3.15Penalty for concealment u/s 271(1)(c) in relation to any
assessment prior to asst. year 2017-18
322
5.3.16Penalty for concealment u/ss 271AAA and 271AAB 324
5.3.17Presumptions for penalty 329
5.3.18Concealment penalty - Presumptions 329
5.3.19Assessee to prove reasonable cause - Sec. 273B 332
5.3.20Presumptions in a search or survey case - Sec. 292C 333
5.3.21Penalty for defaults - PAN, TAN 334
5.3.22Penalty for defaults - TDS and TCS 334
5.3.23Penalty for defaults - Tax payment 336
5.3.24Penalty for non-maintenance of account books etc. 336
5.3.25Penalty for defaults - Audit 336
5.3.26Penalty for defaults - Loans, deposits and cash transactions338
5.3.27Penalty for non-compliance of notices etc. 339
5.3.28Penalty for non-co-operation 339
5.3.29Penalty for defaults - International transactions 340
5.3.30Penalty for under reporting and misreporting of income u/s 270A342
5.3.313HQDOW\IRUQRQIXUQLVKLQJRILQIRUPDWLRQRQDFFRXQWRI¿QDQFLDO
transactions or reportable account
344
5.3.32Penalty in respect of certain income u/s 271AAC inserted by
Taxation Laws (Second Amendment ) Act, 2016
345
5.3.33Penalty for false entry, etc. in the books of account u/s 271AAD
(applicable w.e.f. 01.04.2020)
345
5.3.34Penalty for furnishing of incorrect information u/s 271J as per
Finance Act, 2017
346
5.3.35Penalty for failure to furnish statements, etc. u/s 271K
(Applicable w.e.f. 01.04.2020)
346
5.3.36Who can impose penalty? 347
#/.4%.43
I-140
PAGE
5.3.37Law applicable 347
5.3.38Time limits u/s 275 348
5.3.39Surest suicidals 350
5.3.40Tips and traps 350
5.4 WAIVER OF INTEREST AND PENALTY
5.4.1Waiver of interest levied u/ss 234A, 234B and 234C 352
5.4.2Waiver of interest levied u/s 220 353
5.4.3Waiver of penalty u/s 273A 355
5.4.4Power of principal Commissioner or Commissioner to grant
immunity from penalty u/s 273AA
357
5.5 PROSECUTION
5.5.1Meaning and purpose 359
5.5.2Criminal jurisprudence 360
5.5.3Terminology 360
5.5.4Offences under Income-tax Act 363
5.5.5Presumptions 366
5.5.6Who to be jailed? 368
5.5.7Opportunity before prosecution 370
5.5.8Launching of prosecution 371
5.5.9Quashing the complaint 372
5.5.10Immunity - Abatement of settlement application 374
5.5.11Compounding of offence 375
5.5.12Faceless sanction for initiation of prosecution & compounding
of offences (w.e.f. 1.11.2020)
376
5.5.13Internal working of the department 377
DIVISION SIX
Refunds
6.1 Necessity 379
6.2 Relevant provisions 380
6.3 Claim of refund 380
6.4 Withholding of refund u/s 241A 380
6.5 Interest payable by the department 380
6.6 Condonation of delay for claiming refund 382
6.7 Income Declaration Scheme (IDS) 383
I-140
PAGE
5.3.37Law applicable 347
5.3.38Time limits u/s 275 348
5.3.39Surest suicidals 350
5.3.40Tips and traps 350
5.4 WAIVER OF INTEREST AND PENALTY
5.4.1Waiver of interest levied u/ss 234A, 234B and 234C 352
5.4.2Waiver of interest levied u/s 220 353
5.4.3Waiver of penalty u/s 273A 355
5.4.4Power of principal Commissioner or Commissioner to grant
immunity from penalty u/s 273AA
357
5.5 PROSECUTION
5.5.1Meaning and purpose 359
5.5.2Criminal jurisprudence 360
5.5.3Terminology 360
5.5.4Offences under Income-tax Act 363
5.5.5Presumptions 366
5.5.6Who to be jailed? 368
5.5.7Opportunity before prosecution 370
5.5.8Launching of prosecution 371
5.5.9Quashing the complaint 372
5.5.10Immunity - Abatement of settlement application 374
5.5.11Compounding of offence 375
5.5.12Faceless sanction for initiation of prosecution & compounding
of offences (w.e.f. 1.11.2020)
376
5.5.13Internal working of the department 377
DIVISION SIX
Refunds
6.1 Necessity 379
6.2 Relevant provisions 380
6.3 Claim of refund 380
6.4 Withholding of refund u/s 241A 380
6.5 Interest payable by the department 380
6.6 Condonation of delay for claiming refund 382
6.7 Income Declaration Scheme (IDS) 383
I-141 #/.4%.43
PAGE
DIVISION SEVEN
Settlement Commission - ITSC, Interim Board for Settlement
7.1 Background 385
7.2 Recent changes 386
7.3 (OLJLELOLW\FULWHULDIRU¿OLQJVHWWOHPHQWDSSOLFDWLRQ386
7.4 Computation of additional tax 387
7.5 3URFHGXUHIRU¿OLQJDSSOLFDWLRQ387
7.6 Admission of application 387
7.7 Calling report from CIT 388
7.8 Declaring application as invalid 388
7.9 Enquiry by ITSC 388
7.10 3DVVLQJRI¿QDORUGHU 389
7.11 Organisational structure 389
7.12 Additional income 392
7.13 Fast track arrangements 392
7.14 Powers of ITSC 393
7.15 Immunity from prosecution and penalty - Sec. 245H(1) 394
7.16 Bar on subsequent application 395
7.17 New abatement provisions 395
7.18 &KHFNOLVWIRU¿OLQJVHWWOHPHQWDSSOLFDWLRQ396
7.19 Finance Act, 2021 - Paradigm shift in the provisions relating
to income tax settlement commission discontinuation of ITSC
396
7.20 Interim board for settlement 397
DIVISION EIGHT
Summons, Survey, Search
8.1 SUMMONS
8.1.1Powers under CPC 401
8.1.2Nature of the powers 402
8.1.3Pendency required 403
8.1.4No pendency required 404
8.1.5Duty of assisting taxpayer 404
8.1.6Summons issued but could not be served 405
8.1.7Authorised representative 405
8.1.8Issue of commissions 405
PAGE
DIVISION SEVEN
Settlement Commission - ITSC, Interim Board for Settlement
7.1 Background 385
7.2 Recent changes 386
7.3 (OLJLELOLW\FULWHULDIRU¿OLQJVHWWOHPHQWDSSOLFDWLRQ386
7.4 Computation of additional tax 387
7.5 3URFHGXUHIRU¿OLQJDSSOLFDWLRQ387
7.6 Admission of application 387
7.7 Calling report from CIT 388
7.8 Declaring application as invalid 388
7.9 Enquiry by ITSC 388
7.10 3DVVLQJRI¿QDORUGHU 389
7.11 Organisational structure 389
7.12 Additional income 392
7.13 Fast track arrangements 392
7.14 Powers of ITSC 393
7.15 Immunity from prosecution and penalty - Sec. 245H(1) 394
7.16 Bar on subsequent application 395
7.17 New abatement provisions 395
7.18 &KHFNOLVWIRU¿OLQJVHWWOHPHQWDSSOLFDWLRQ396
7.19 Finance Act, 2021 - Paradigm shift in the provisions relating
to income tax settlement commission discontinuation of ITSC
396
7.20 Interim board for settlement 397
DIVISION EIGHT
Summons, Survey, Search
8.1 SUMMONS
8.1.1Powers under CPC 401
8.1.2Nature of the powers 402
8.1.3Pendency required 403
8.1.4No pendency required 404
8.1.5Duty of assisting taxpayer 404
8.1.6Summons issued but could not be served 405
8.1.7Authorised representative 405
8.1.8Issue of commissions 405
#/.4%.43
I-142
PAGE
8.2 CALLING INFORMATION
8.2.1General 406
8.2.2Who can exercise the powers u/s 133? 407
8.2.3)URP¿UP6HF 407
8.2.4From HUF - Sec. 133(2) 408
8.2.5From trustee, guardian or agent - Sec. 133(3) 408
8.2.6From any assessee - Sec. 133(4) 408
8.2.7From stock exchange etc. - Sec. 133(5) 408
8.2.8From bank, etc. - Sec. 133(6) 409
8.2.9Penalty 410
8.2.10Faceless inquiry or valuation - (Section 142B w.e.f. 1.11.2020)410
8.3 SURVEY
8.3.1Why survey? 411
8.3.2Who can survey? 412
8.3.3Which premises can be surveyed? 413
8.3.4Time of survey 413
8.3.5Powers of survey authority 414
8.3.6Duties of the person surveyed 415
8.3.7Rights of the person surveyed 416
8.3.8Survey in connection with TDS/TCS compliances 416
8.3.9Survey to collect information about expenditure 416
8.3.10Impounding books etc. in survey 417
8.3.11Converting a survey into search 418
8.3.12Reopening of assessments on the basis of survey u/s 133A 418
8.3.13Material found in illegal survey 418
8.3.14Door-to-door survey 419
8.4 SEARCH & SEIZURE
8.4.1Meaning & safeguards 421
8.4.2Warrant of authorisation 422
8.4.3Pre-search exercise 424
8.4.4Who can execute a search warrant? 424
8.4.5Rights of the search party 425
8.4.6Rights of the person searched 426
I-142
PAGE
8.2 CALLING INFORMATION
8.2.1General 406
8.2.2Who can exercise the powers u/s 133? 407
8.2.3)URP¿UP6HF 407
8.2.4From HUF - Sec. 133(2) 408
8.2.5From trustee, guardian or agent - Sec. 133(3) 408
8.2.6From any assessee - Sec. 133(4) 408
8.2.7From stock exchange etc. - Sec. 133(5) 408
8.2.8From bank, etc. - Sec. 133(6) 409
8.2.9Penalty 410
8.2.10Faceless inquiry or valuation - (Section 142B w.e.f. 1.11.2020)410
8.3 SURVEY
8.3.1Why survey? 411
8.3.2Who can survey? 412
8.3.3Which premises can be surveyed? 413
8.3.4Time of survey 413
8.3.5Powers of survey authority 414
8.3.6Duties of the person surveyed 415
8.3.7Rights of the person surveyed 416
8.3.8Survey in connection with TDS/TCS compliances 416
8.3.9Survey to collect information about expenditure 416
8.3.10Impounding books etc. in survey 417
8.3.11Converting a survey into search 418
8.3.12Reopening of assessments on the basis of survey u/s 133A 418
8.3.13Material found in illegal survey 418
8.3.14Door-to-door survey 419
8.4 SEARCH & SEIZURE
8.4.1Meaning & safeguards 421
8.4.2Warrant of authorisation 422
8.4.3Pre-search exercise 424
8.4.4Who can execute a search warrant? 424
8.4.5Rights of the search party 425
8.4.6Rights of the person searched 426
I-143 #/.4%.43
PAGE
8.4.7Obligations of the person searched 428
8.4.8Presence of consultant during search & seizure 429
8.4.9Actual working of search & seizure 431
8.4.10Recent amendments 434
8.4.11Recording of statement during search & seizure 436
8.4.12Surrender of income 437
8.4.13Retraction 439
8.4.14Presumption regarding valuables & documents found 440
8.4.15No multiple additions 441
8.4.16Seizure of third party valuables 442
8.4.17Seizure of documents and extension 443
8.4.18Restraint/Prohibitory order u/s 132(3) 443
8.4.19Requisition from another authority u/s 132A 444
8.4.20Appropriation of seized valuables u/s 132B 445
8.4.21Challenging validity of search by writ 447
8.4.22Material seized in illegal search 448
8.4.23Power of arrest 449
8.4.24Post-search assessment 449
8.4.25Directions u/s 144A 449
8.4.26Tips and traps 449
DIVISION NINE
TDS and TCS
9.1 TDS - DEDUCTION OF TAX AT SOURCE
9.1.1No TDS from certain deductee 455
9.1.2Mandate to quote PAN (Section 206AA) 457
9.1.3TDS from salaries (Section 192) 457
9.1.4TDS from employees provident fund scheme - Section 192A 460
9.1.5TDS from interest on securities (Section 193) 460
9.1.6TDS from dividend (Section 194) 461
9.1.7TDS from interest other than interest on securities (Section 194A)462
9.1.8Winnings from lottery etc. (Section 194B) 464
9.1.9Winnings from horse race etc. (Section 194BB) 464
9.1.10TDS from payment to contractors (Section 194C) 465
9.1.11TDS from insurance commission (Section 194D) 467
PAGE
8.4.7Obligations of the person searched 428
8.4.8Presence of consultant during search & seizure 429
8.4.9Actual working of search & seizure 431
8.4.10Recent amendments 434
8.4.11Recording of statement during search & seizure 436
8.4.12Surrender of income 437
8.4.13Retraction 439
8.4.14Presumption regarding valuables & documents found 440
8.4.15No multiple additions 441
8.4.16Seizure of third party valuables 442
8.4.17Seizure of documents and extension 443
8.4.18Restraint/Prohibitory order u/s 132(3) 443
8.4.19Requisition from another authority u/s 132A 444
8.4.20Appropriation of seized valuables u/s 132B 445
8.4.21Challenging validity of search by writ 447
8.4.22Material seized in illegal search 448
8.4.23Power of arrest 449
8.4.24Post-search assessment 449
8.4.25Directions u/s 144A 449
8.4.26Tips and traps 449
DIVISION NINE
TDS and TCS
9.1 TDS - DEDUCTION OF TAX AT SOURCE
9.1.1No TDS from certain deductee 455
9.1.2Mandate to quote PAN (Section 206AA) 457
9.1.3TDS from salaries (Section 192) 457
9.1.4TDS from employees provident fund scheme - Section 192A 460
9.1.5TDS from interest on securities (Section 193) 460
9.1.6TDS from dividend (Section 194) 461
9.1.7TDS from interest other than interest on securities (Section 194A)462
9.1.8Winnings from lottery etc. (Section 194B) 464
9.1.9Winnings from horse race etc. (Section 194BB) 464
9.1.10TDS from payment to contractors (Section 194C) 465
9.1.11TDS from insurance commission (Section 194D) 467
#/.4%.43
I-144
PAGE
9.1.12TDS from payment of life insurance policy money on maturity -
(Section 194DA)
467
9.1.13TDS from payment to non-resident sportsman or sport
association (Section 194E)
468
9.1.14TDS from national savings scheme (Section 194EE) 468
9.1.15TDS for repurchase of units of mutual fund of UTI (Section 194F)468
9.1.16TDS from prize on lottery tickets (Section 194G) 469
9.1.17TDS from commission or brokerage (Section 194H) 469
9.1.18TDS from rent (Section 194-I) 470
9.1.19TDS on payment on transfer of certain immovable property
other than agricultural land (Section 194-IA)
472
9.1.20TDS from rent for individual and HUF (Section 194-IB) 472
9.1.21TDS from income under developer agreement u/s 45(5A)
(Section 194-IC)
472
9.1.22TDS from fees for professional/technical services (Section 194J)473
9.1.23TDS - Income from mutual fund units (Section 194K) 474
9.1.24TDS - Compulsory acquisition of immovable property (Section
194LA)
474
9.1.25TDS from interest from infrastructure debt fund (Section194LB)475
9.1.26TDS from income from units of a business trust (Section 194LBA)475
9.1.27TDS from income in respect of units of investment fund (Section
194LBB)
475
9.1.28TDS from income in respect of investment in securitization trust
(Section 194LBC)
476
9.1.29TDS from income by way of interest from Indian company
(Section 194LC)
476
9.1.30TDS from income by way of interest on certain bonds and
government securities (Section 194LD)
477
9.1.31TDS from payment of certain sums certain individuals or HUF
(Section 194M inserted by Finance Act, 2019 w.e.f. 1-9-2019)
477
9.1.32TDS from payments of certain amounts in cash (Section 194N
substituted w.e.f. 1.7.2020)
478
9.1.33TDS on e-commerce transactions (Section 194-O) - w.e.f.
1-10-2020
478
9.1.347'6LQFDVHRIVSHFL¿HG6HQLRU&LWL]HQ6HFWLRQ3ZHI
1-4-2021
480
9.1.35TDS on payment of certain sums for purchase of goods (Section
194Q) - w.e.f. 1-7-2021
480
I-144
PAGE
9.1.12TDS from payment of life insurance policy money on maturity -
(Section 194DA)
467
9.1.13TDS from payment to non-resident sportsman or sport
association (Section 194E)
468
9.1.14TDS from national savings scheme (Section 194EE) 468
9.1.15TDS for repurchase of units of mutual fund of UTI (Section 194F)468
9.1.16TDS from prize on lottery tickets (Section 194G) 469
9.1.17TDS from commission or brokerage (Section 194H) 469
9.1.18TDS from rent (Section 194-I) 470
9.1.19TDS on payment on transfer of certain immovable property
other than agricultural land (Section 194-IA)
472
9.1.20TDS from rent for individual and HUF (Section 194-IB) 472
9.1.21TDS from income under developer agreement u/s 45(5A)
(Section 194-IC)
472
9.1.22TDS from fees for professional/technical services (Section 194J)473
9.1.23TDS - Income from mutual fund units (Section 194K) 474
9.1.24TDS - Compulsory acquisition of immovable property (Section
194LA)
474
9.1.25TDS from interest from infrastructure debt fund (Section194LB)475
9.1.26TDS from income from units of a business trust (Section 194LBA)475
9.1.27TDS from income in respect of units of investment fund (Section
194LBB)
475
9.1.28TDS from income in respect of investment in securitization trust
(Section 194LBC)
476
9.1.29TDS from income by way of interest from Indian company
(Section 194LC)
476
9.1.30TDS from income by way of interest on certain bonds and
government securities (Section 194LD)
477
9.1.31TDS from payment of certain sums certain individuals or HUF
(Section 194M inserted by Finance Act, 2019 w.e.f. 1-9-2019)
477
9.1.32TDS from payments of certain amounts in cash (Section 194N
substituted w.e.f. 1.7.2020)
478
9.1.33TDS on e-commerce transactions (Section 194-O) - w.e.f.
1-10-2020
478
9.1.347'6LQFDVHRIVSHFL¿HG6HQLRU&LWL]HQ6HFWLRQ3ZHI
1-4-2021
480
9.1.35TDS on payment of certain sums for purchase of goods (Section
194Q) - w.e.f. 1-7-2021
480
I-145 #/.4%.43
PAGE
9.1.36TDS from payments to non-residents (Section 195) 481
9.1.37Income to be paid is “net of tax” (Section 195A) 484
9.1.38TDS from income from units - Sec. 196B 484
9.1.39TDS from income from foreign currency bonds or shares of
Indian company (Section 196C)
484
9.1.40TDS from income of foreign institutional investors from securities
(Section 196D)
485
9.1.41Tax deducted is deemed income (Section 198) 485
9.1.42Credit for tax deducted (Section 199) 486
9.1.43Duty of person deducting tax (Section 200) 486
9.1.44Fee for default in furnishing TDS return (Section 234E) 487
9.1.45Consequences of failure to deduct or pay TDS (Section 201)487
9.1.46Reduction in rate of TDS due to COVID-19 Pandemic 488
9.1.476SHFLDOSURYLVLRQIRU7'6IRUQRQ¿OHUVRI,QFRPH7D[UHWXUQ
(Sec. 206AB) - w.e.f. 01.07.2021
490
9.2
TAX COLLECTION AT SOURCE - TCS
9.2.1No TCS or TCS at lower rate in certain cases 491
9.2.27&6E\VHOOHURIVSHFL¿HGJRRGV6HFWLRQ&493
9.2.3TCS by licensor - Section 206C(1C) 494
9.2.4TCS on sale of motor vehicle - Section 206C(1F) 495
9.2.5TCS on remittance under liberalised remittance scheme - Section
206C(1G) - Inserted w.e.f. 1-4-2020 (AY 2021-22)
495
9.2.6TCS on sale of goods - Section 206C(1H) - w.e.f. 1.04.2020496
9.2.7Pan by collectee for TCS compliance - Section 206CC - Appli-
cable from 1-4-2017 as inserted by Finance Act, 2017
497
9.2.8Seller - Meaning for provisions of TCS u/s 206C(1), 206C(1C),
and 206C(1F)
498
9.2.9Scrap - Meaning 498
9.2.10Obligation for TCS 498
9.2.116SHFLDOSURYLVLRQIRU7&6IRUQRQ¿OHUVRI,QFRPH7D[UHWXUQ
(Sec. 206CCA) - w.e.f. 01.07.2021
498
DIVISION TEN
Recovery of Tax
10.1 RECOVERY OF TAX - GENERAL
10.1.1Pendency of appeal etc. 501
PAGE
9.1.36TDS from payments to non-residents (Section 195) 481
9.1.37Income to be paid is “net of tax” (Section 195A) 484
9.1.38TDS from income from units - Sec. 196B 484
9.1.39TDS from income from foreign currency bonds or shares of
Indian company (Section 196C)
484
9.1.40TDS from income of foreign institutional investors from securities
(Section 196D)
485
9.1.41Tax deducted is deemed income (Section 198) 485
9.1.42Credit for tax deducted (Section 199) 486
9.1.43Duty of person deducting tax (Section 200) 486
9.1.44Fee for default in furnishing TDS return (Section 234E) 487
9.1.45Consequences of failure to deduct or pay TDS (Section 201)487
9.1.46Reduction in rate of TDS due to COVID-19 Pandemic 488
9.1.476SHFLDOSURYLVLRQIRU7'6IRUQRQ¿OHUVRI,QFRPH7D[UHWXUQ
(Sec. 206AB) - w.e.f. 01.07.2021
490
9.2
TAX COLLECTION AT SOURCE - TCS
9.2.1No TCS or TCS at lower rate in certain cases 491
9.2.27&6E\VHOOHURIVSHFL¿HGJRRGV6HFWLRQ&493
9.2.3TCS by licensor - Section 206C(1C) 494
9.2.4TCS on sale of motor vehicle - Section 206C(1F) 495
9.2.5TCS on remittance under liberalised remittance scheme - Section
206C(1G) - Inserted w.e.f. 1-4-2020 (AY 2021-22)
495
9.2.6TCS on sale of goods - Section 206C(1H) - w.e.f. 1.04.2020496
9.2.7Pan by collectee for TCS compliance - Section 206CC - Appli-
cable from 1-4-2017 as inserted by Finance Act, 2017
497
9.2.8Seller - Meaning for provisions of TCS u/s 206C(1), 206C(1C),
and 206C(1F)
498
9.2.9Scrap - Meaning 498
9.2.10Obligation for TCS 498
9.2.116SHFLDOSURYLVLRQIRU7&6IRUQRQ¿OHUVRI,QFRPH7D[UHWXUQ
(Sec. 206CCA) - w.e.f. 01.07.2021
498
DIVISION TEN
Recovery of Tax
10.1 RECOVERY OF TAX - GENERAL
10.1.1Pendency of appeal etc. 501
#/.4%.43
I-146
PAGE
10.1.2Assessee in default 503
10.1.3Consequences of being an assessee in default 504
10.2 STAY OF DEMAND
10.2.16LJQL¿FDQFHRIVWD\RIGHPDQG505
10.2.2Seeking stay of demand 506
10.2.3What to Emphasise for stay? 508
10.2.4Provisions of section 220(6) v. 220(3) 509
10.2.5Stay by CIT (Appeals) 509
10.2.6Stay by ITAT 510
10.2.7Writ jurisdiction 512
10.3 RECOVERY
10.3.1Recovery of demand 513
10.3.2Interest u/s 220(2) 514
10.3.3Special cases 514
10.3.4&RVWEHQH¿WDQDO\VLV 515
DIVISION ELEVEN
Special Procedures
11.1 SFTRA - STATEMENT OF FINANCIAL TRANSACTION OR
REPORTABLE ACCOUNT
11.1.1Objective - Curbing tax evasion 519
11.1.2Persons required to furnish SFTRA 519
11.1.3Nature of transactions covered 520
11.1.4Furnishing SFTRA 521
11.1.5Useful websites 522
11.1.6Statement of donations/other sum received 522
11.2 AAR - AUTHORITY FOR ADVANCE RULING
11.2.1Broad scheme 523
11.2.2Terminology 524
11.2.3Procedure for obtaining an advance ruling 525
11.2.4Questions on which advance ruling can be sought 526
11.2.5Powers and order of AAR 526
11.2.6Finance Act, 2021- Constitution of the board for advance rulings527
I-146
PAGE
10.1.2Assessee in default 503
10.1.3Consequences of being an assessee in default 504
10.2 STAY OF DEMAND
10.2.16LJQL¿FDQFHRIVWD\RIGHPDQG505
10.2.2Seeking stay of demand 506
10.2.3What to Emphasise for stay? 508
10.2.4Provisions of section 220(6) v. 220(3) 509
10.2.5Stay by CIT (Appeals) 509
10.2.6Stay by ITAT 510
10.2.7Writ jurisdiction 512
10.3 RECOVERY
10.3.1Recovery of demand 513
10.3.2Interest u/s 220(2) 514
10.3.3Special cases 514
10.3.4&RVWEHQH¿WDQDO\VLV 515
DIVISION ELEVEN
Special Procedures
11.1 SFTRA - STATEMENT OF FINANCIAL TRANSACTION OR
REPORTABLE ACCOUNT
11.1.1Objective - Curbing tax evasion 519
11.1.2Persons required to furnish SFTRA 519
11.1.3Nature of transactions covered 520
11.1.4Furnishing SFTRA 521
11.1.5Useful websites 522
11.1.6Statement of donations/other sum received 522
11.2 AAR - AUTHORITY FOR ADVANCE RULING
11.2.1Broad scheme 523
11.2.2Terminology 524
11.2.3Procedure for obtaining an advance ruling 525
11.2.4Questions on which advance ruling can be sought 526
11.2.5Powers and order of AAR 526
11.2.6Finance Act, 2021- Constitution of the board for advance rulings527
I-147 #/.4%.43
PAGE
11.3 A&D - AMALGAMATION AND DEMERGER
11.3.1Purpose 531
11.3.2Amalgamation 531
11.3.3Demerged Company 531
11.3.4Demerger 531
11.3.5Resulting Company 532
11.3.6Undertaking 532
11.3.7Capital gains exempt 533
11.3.8Carry forward of losses and depreciation of amalgamating
company
533
11.3.9Carry forward of losses and depreciation of resulting company534
11.3.10Amortisation of A&D expenditure 534
11.3.11Depreciation in year of A&D 534
11.3.12Actual cost 534
11.3.13Written down value (WDV) 534
11.3.14%HQH¿WRILQFHQWLYHVWRFRQWLQXHGHVSLWH$ '535
11.3.15Provisions for shareholders of A&D company 535
11.3.16%HQH¿FLDOSURYLVLRQVDSSOLFDEOHWREDQNLQJFRPSDQ\536
11.4 AOP - ASSOCIATION OF PERSONS
11.4.1What is an association of persons? 537
11.4.2How to form an AOP? 538
11.4.3Unity of purpose 538
11.4.4Minor - Member of an AOP 538
11.4.5Taxation of an AOP 538
11.5 FIRM
11.5.1What is partnership? 541
11.5.2Who can become a partner? 541
11.5.3Essentials of valid partnership 541
11.5.4Formation of partnership 542
11.5.5Partnership deed 542
11.5.6Contents of partnership deed 542
11.5.7Admission 543
11.5.8Retirement 543
11.5.9'LVVROXWLRQRISDUWQHUVKLS¿UP543
11.5.105HJLVWUDWLRQRI¿UP 544
PAGE
11.3 A&D - AMALGAMATION AND DEMERGER
11.3.1Purpose 531
11.3.2Amalgamation 531
11.3.3Demerged Company 531
11.3.4Demerger 531
11.3.5Resulting Company 532
11.3.6Undertaking 532
11.3.7Capital gains exempt 533
11.3.8Carry forward of losses and depreciation of amalgamating
company
533
11.3.9Carry forward of losses and depreciation of resulting company534
11.3.10Amortisation of A&D expenditure 534
11.3.11Depreciation in year of A&D 534
11.3.12Actual cost 534
11.3.13Written down value (WDV) 534
11.3.14%HQH¿WRILQFHQWLYHVWRFRQWLQXHGHVSLWH$ '535
11.3.15Provisions for shareholders of A&D company 535
11.3.16%HQH¿FLDOSURYLVLRQVDSSOLFDEOHWREDQNLQJFRPSDQ\536
11.4 AOP - ASSOCIATION OF PERSONS
11.4.1What is an association of persons? 537
11.4.2How to form an AOP? 538
11.4.3Unity of purpose 538
11.4.4Minor - Member of an AOP 538
11.4.5Taxation of an AOP 538
11.5 FIRM
11.5.1What is partnership? 541
11.5.2Who can become a partner? 541
11.5.3Essentials of valid partnership 541
11.5.4Formation of partnership 542
11.5.5Partnership deed 542
11.5.6Contents of partnership deed 542
11.5.7Admission 543
11.5.8Retirement 543
11.5.9'LVVROXWLRQRISDUWQHUVKLS¿UP543
11.5.105HJLVWUDWLRQRI¿UP 544
#/.4%.43
I-148
PAGE
11.5.11Tips and traps 545
11.5.127D[DWLRQRI¿UPV 546
11.5.135DWHRI¿UPWD[ 547
11.5.14Interest and remuneration to partners 547
11.5.15No double taxation 548
11.5.16Presumptive income 548
11.6 LLP - LIMITED LIABILITY PARTNERSHIP
11.6.1What is limited liability partnership? 550
11.6.2//3FRPSDQ\DQG¿UP&RPSDUDWLYHVWXG\550
11.6.3Who can become a partner? 552
11.6.4Essentials of valid LLP 553
11.6.5Constitution of LLP 553
11.6.6LLP agreement 553
11.6.7Contents of LLP agreement 554
11.6.8Incorporation of LLP 555
11.6.9Admission 555
11.6.10Cessation of partnership interest 555
11.6.11&RQYHUVLRQRISDUWQHUVKLS¿UPLQWR//3555
11.6.12Conversion of company into LLP 556
11.6.13Winding up, dissolution and striking off the name 557
11.6.14Tips and traps 558
11.6.15Taxation of LLP 559
11.6.16Rate of tax 559
11.6.17Interest and remuneration to partners 560
11.6.18No double taxation 560
11.6.19Presumptive taxation 560
11.6.20Signing of income tax return 560
11.6.21Liability of partners in liquidation 560
11.6.22&RQYHUVLRQRI¿UPLQWR//37D[LPSOLFDWLRQV560
11.6.23Conversion of company into LLP : Tax implications 561
11.6.24Alternate minimum tax 563
11.7 TRUST, MUTUALITY, CHARITY
11.7.1Trust 566
11.7.2Creation of a trust 567
11.7.3Instrument of trust deed 568
I-148
PAGE
11.5.11Tips and traps 545
11.5.127D[DWLRQRI¿UPV 546
11.5.135DWHRI¿UPWD[ 547
11.5.14Interest and remuneration to partners 547
11.5.15No double taxation 548
11.5.16Presumptive income 548
11.6 LLP - LIMITED LIABILITY PARTNERSHIP
11.6.1What is limited liability partnership? 550
11.6.2//3FRPSDQ\DQG¿UP&RPSDUDWLYHVWXG\550
11.6.3Who can become a partner? 552
11.6.4Essentials of valid LLP 553
11.6.5Constitution of LLP 553
11.6.6LLP agreement 553
11.6.7Contents of LLP agreement 554
11.6.8Incorporation of LLP 555
11.6.9Admission 555
11.6.10Cessation of partnership interest 555
11.6.11&RQYHUVLRQRISDUWQHUVKLS¿UPLQWR//3555
11.6.12Conversion of company into LLP 556
11.6.13Winding up, dissolution and striking off the name 557
11.6.14Tips and traps 558
11.6.15Taxation of LLP 559
11.6.16Rate of tax 559
11.6.17Interest and remuneration to partners 560
11.6.18No double taxation 560
11.6.19Presumptive taxation 560
11.6.20Signing of income tax return 560
11.6.21Liability of partners in liquidation 560
11.6.22&RQYHUVLRQRI¿UPLQWR//37D[LPSOLFDWLRQV560
11.6.23Conversion of company into LLP : Tax implications 561
11.6.24Alternate minimum tax 563
11.7 TRUST, MUTUALITY, CHARITY
11.7.1Trust 566
11.7.2Creation of a trust 567
11.7.3Instrument of trust deed 568
I-149 #/.4%.43
PAGE
11.7.4Mutuality 570
11.7.5Income exempt u/s 10 571
11.7.66LJQL¿FDQFH 573
11.7.7Various registrations 573
11.7.8Forms of organization 574
11.7.9Society 574
11.7.10Company u/s 8 575
11.7.11Deity, debuttar 576
11.7.12Broad scheme of taxation of charity 576
11.7.13Charitable Purpose u/s 2(15) 577
11.7.14Voluntary contributions u/s 2(24)(iia) 581
11.7.15Application of income u/s 11 581
11.7.16Corpus donations u/s 11(1)(d) 585
11.7.17Capital gains u/s 11(1A) 586
11.7.18Accumulation u/s 11(2) 587
11.7.19Investment by the institutions u/s 11(5) 588
11.7.20Registration u/s 12A/12AB 589
11.7.21Disabling provisions u/s 13 592
11.7.22Religious institutions u/s 13(1)(a),(b) 595
11.7.23Section 80G 596
11.7.24Anonymous Donation u/s 115BBC 598
11.7.25Rate of tax u/s 164 599
11.7.26Business by charitable institution 599
11.7.27Accounts and audit 600
11.7.28Return of income 601
11.7.29TDS 601
11.7.30Conversion of the trust or institution - w.e.f. 1.6.2016 601
11.7.31Foreign Contribution (Regulation) Act, 1976 602
11.8 HUF - HINDU UNDIVIDED FAMILY
11.8.1Hindu Undivided Family (HUF) 608
11.8.26LJQL¿FDQFHRI+8)LQWD[ODZV608
11.8.3Creation of HUF 612
11.8.4Hindu 613
11.8.5Hindu law 613
11.8.6Mitakshara v. Dayabhaga 614
PAGE
11.7.4Mutuality 570
11.7.5Income exempt u/s 10 571
11.7.66LJQL¿FDQFH 573
11.7.7Various registrations 573
11.7.8Forms of organization 574
11.7.9Society 574
11.7.10Company u/s 8 575
11.7.11Deity, debuttar 576
11.7.12Broad scheme of taxation of charity 576
11.7.13Charitable Purpose u/s 2(15) 577
11.7.14Voluntary contributions u/s 2(24)(iia) 581
11.7.15Application of income u/s 11 581
11.7.16Corpus donations u/s 11(1)(d) 585
11.7.17Capital gains u/s 11(1A) 586
11.7.18Accumulation u/s 11(2) 587
11.7.19Investment by the institutions u/s 11(5) 588
11.7.20Registration u/s 12A/12AB 589
11.7.21Disabling provisions u/s 13 592
11.7.22Religious institutions u/s 13(1)(a),(b) 595
11.7.23Section 80G 596
11.7.24Anonymous Donation u/s 115BBC 598
11.7.25Rate of tax u/s 164 599
11.7.26Business by charitable institution 599
11.7.27Accounts and audit 600
11.7.28Return of income 601
11.7.29TDS 601
11.7.30Conversion of the trust or institution - w.e.f. 1.6.2016 601
11.7.31Foreign Contribution (Regulation) Act, 1976 602
11.8 HUF - HINDU UNDIVIDED FAMILY
11.8.1Hindu Undivided Family (HUF) 608
11.8.26LJQL¿FDQFHRI+8)LQWD[ODZV608
11.8.3Creation of HUF 612
11.8.4Hindu 613
11.8.5Hindu law 613
11.8.6Mitakshara v. Dayabhaga 614
#/.4%.43
I-150
PAGE
11.8.7HUF v. Coparcenary 615
11.8.8Family, karta & members 616
11.8.9HUF property 617
11.8.10Blending 618
11.8.11Gift to or by HUF 619
11.8.12Stridhan 620
11.8.13Partition 620
11.8.14Receipt by a member from HUF income 622
11.8.15Salary, commission, etc. 623
11.8.16Effect of Hindu Succession Act 624
11.8.17Reunion of HUF 625
11.9 NR - NON-RESIDENT
11.9.1Broad principles 626
11.9.2Recent changes in income accrue or arise in India 627
11.9.3Presumptive taxation of business income of non-resident 630
11.9.4Other Special provisions for Business Income of Non-resident
etc.
630
11.9.5Special rates of tax in respect of certain income 631
11.9.6TDS borne by the payer 633
11.9.7“Actual cost” of asset brought into India by non-resident633
11.9.8Capital gains on shares and debentures in Indian company 634
11.9.9Taxation of non-resident Indians 634
11.9.10Special rates of tax for non-resident Indians 634
11.9.11Applicability of Chapter XIIA after becoming resident 635
11.9.12New exemptions to non-residents (w.e.f. 01.04.2022) 635
11.10 TRANSFER PRICING
11.10.1Purpose 638
11.10.2Terminology 638
11.10.3Computation of Income arising from International Transaction639
11.10.4Methods of computation of arm’s length price 640
11.10.5Choosing the most appropriate method 641
11.10.6'HWHUPLQDWLRQRIDUP¶VOHQJWKSULFHE\$VVHVVLQJ2I¿FHU642
11.10.75HIHUHQFHWRWUDQVIHUSULFLQJRI¿FHU643
11.10.8Procedure after a reference is received 644
11.10.95HFWL¿FDWLRQE\WUDQVIHUSULFLQJRI¿FHU644
I-150
PAGE
11.8.7HUF v. Coparcenary 615
11.8.8Family, karta & members 616
11.8.9HUF property 617
11.8.10Blending 618
11.8.11Gift to or by HUF 619
11.8.12Stridhan 620
11.8.13Partition 620
11.8.14Receipt by a member from HUF income 622
11.8.15Salary, commission, etc. 623
11.8.16Effect of Hindu Succession Act 624
11.8.17Reunion of HUF 625
11.9 NR - NON-RESIDENT
11.9.1Broad principles 626
11.9.2Recent changes in income accrue or arise in India 627
11.9.3Presumptive taxation of business income of non-resident 630
11.9.4Other Special provisions for Business Income of Non-resident
etc.
630
11.9.5Special rates of tax in respect of certain income 631
11.9.6TDS borne by the payer 633
11.9.7“Actual cost” of asset brought into India by non-resident633
11.9.8Capital gains on shares and debentures in Indian company 634
11.9.9Taxation of non-resident Indians 634
11.9.10Special rates of tax for non-resident Indians 634
11.9.11Applicability of Chapter XIIA after becoming resident 635
11.9.12New exemptions to non-residents (w.e.f. 01.04.2022) 635
11.10 TRANSFER PRICING
11.10.1Purpose 638
11.10.2Terminology 638
11.10.3Computation of Income arising from International Transaction639
11.10.4Methods of computation of arm’s length price 640
11.10.5Choosing the most appropriate method 641
11.10.6'HWHUPLQDWLRQRIDUP¶VOHQJWKSULFHE\$VVHVVLQJ2I¿FHU642
11.10.75HIHUHQFHWRWUDQVIHUSULFLQJRI¿FHU643
11.10.8Procedure after a reference is received 644
11.10.95HFWL¿FDWLRQE\WUDQVIHUSULFLQJRI¿FHU644
I-151 #/.4%.43
PAGE
11.10.10Information and documents to be maintained 644
11.10.11Report of chartered accountant 645
11.10.12Penalties 645
11.10.13When arm’s length price not to be determined? 646
11.10.14Attribution of income in case of PE of a non-resident 646
11.11 DRP - DISPUTE RESOLUTION PANEL
11.11.1Purpose 647
11.11.2Objective 648
11.11.3Eligible assessee - IT means 648
11.11.4Scheme of DRP 648
11.11.5Rules and procedures 649
11.11.6Constitution of the panel 649
11.11.73URFHGXUHIRU¿OLQJREMHFWLRQV650
11.11.8Additional evidence 651
11.11.9Issue of directions 651
11.11.10Abatement of proceedings 651
11.11.11Assessment order 651
11.11.125HFWL¿FDWLRQRIPLVWDNH 652
11.11.13Appeal against assessment order 652
DIVISION TWELVE
Approvals
12.1 DICTIONARY MEANING 653
12.2 PURPOSE 654
12.3 ADMINISTRATIVE OR INTERNAL APPROVALS
12.3.1Section 33AB(1) - Tea/Coffee/Rubber Development Account 654
12.3.2Authorization of a Search - Section 132 654
12.3.3Power of Survey - Proviso to Section 133A 655
12.3.4Survey - Retention of Books - Section 133A(3)(ia)(b) 655
12.3.5Calling statement of Assets - Section 142(1) Proviso (a) 655
12.3.6Special Audit - Section 142(2A) 656
12.3.7Reopening of Assessment - Section 151 656
12.3.8Post Search Assessment - Section 153D 656
12.3.9Provisional attachment - Section 281B 656
PAGE
11.10.10Information and documents to be maintained 644
11.10.11Report of chartered accountant 645
11.10.12Penalties 645
11.10.13When arm’s length price not to be determined? 646
11.10.14Attribution of income in case of PE of a non-resident 646
11.11 DRP - DISPUTE RESOLUTION PANEL
11.11.1Purpose 647
11.11.2Objective 648
11.11.3Eligible assessee - IT means 648
11.11.4Scheme of DRP 648
11.11.5Rules and procedures 649
11.11.6Constitution of the panel 649
11.11.73URFHGXUHIRU¿OLQJREMHFWLRQV650
11.11.8Additional evidence 651
11.11.9Issue of directions 651
11.11.10Abatement of proceedings 651
11.11.11Assessment order 651
11.11.125HFWL¿FDWLRQRIPLVWDNH 652
11.11.13Appeal against assessment order 652
DIVISION TWELVE
Approvals
12.1 DICTIONARY MEANING 653
12.2 PURPOSE 654
12.3 ADMINISTRATIVE OR INTERNAL APPROVALS
12.3.1Section 33AB(1) - Tea/Coffee/Rubber Development Account 654
12.3.2Authorization of a Search - Section 132 654
12.3.3Power of Survey - Proviso to Section 133A 655
12.3.4Survey - Retention of Books - Section 133A(3)(ia)(b) 655
12.3.5Calling statement of Assets - Section 142(1) Proviso (a) 655
12.3.6Special Audit - Section 142(2A) 656
12.3.7Reopening of Assessment - Section 151 656
12.3.8Post Search Assessment - Section 153D 656
12.3.9Provisional attachment - Section 281B 656
#/.4%.43
I-152
PAGE
12.4 APPROVALS BY CENTRAL GOVERNMENT ETC.
12.4.1Leasing Aircraft - Section 10(6BB) 657
12.4.2Engagement of Technical Assistants - Section 10(8A) etc. 657
12.4.3Professional Body - Section 10(23A), proviso 1(ii) 657
12.4.4LIC Pension Fund - Section 10(23AAB)(ii) 658
12.4.5Khadi/Village Industries Promotion - Section 10(23B) 658
12.4.6Venture Capital Co./Fund - Section 10(23FB) 658
12.4.7Health Insurance - Section 17(2) 658
12.4.8Site Restoration Fund - Section 33ABA(1)(a) 658
12.4.96FLHQWL¿F5HVHDUFK([SHQGLWXUH6HFWLRQ5XOHV'(659
12.4.10Eligible Project - Section 35AC(1), Rule 11L 659
12.4.11Special Business - Section 35AD(2)(iii)(b) 659
12.4.126SHFL¿HG(QWLW\HQJDJHGLQSURYLGLQJORQJWHUP¿QDQFH6HFWLRQ
36(1)(viii)
659
12.4.13Turnkey Power Projects by Foreign Co. - Sec. 44BBB 660
12.4.14Investment in bonds - Sec. 54EC 660
12.4.15Amalgamation/Demerger - Sec. 72A 660
12.4.16Demerger of Companies u/s 72A(5) - Sec. 2(19AA)(vii) 660
12.4.17Foreign Companies - Concessional rate of Tax - Sec. 115A(1)(b) 661
12.5 APPROVAL BY CHIEF CIT, DG ETC.
12.5.1Approved Gratuity Fund - Sec. 2(5) Part C of Fourth Schedule661
12.5.2Approved Superannuation fund - Sec. 2(6) Part B of Fourth
Schedule
661
12.5.3Recognition of Provident Fund - Sec. 2(38) Part A, Fourth
Schedule
661
12.5.4Fund established for Employees welfare - Sec. 10(23AAA)(b)
Rule 16C, Form No. 9
662
12.5.5Fund or trust or institution - Sec. 10(23C)(iv)/(v)/(vi)/(via) 662
12.5.6Trust - Procedure for Registration - Sec. 12AB Rule 17A, Form
10A
662
12.5.7+RVSLWDODSSURYHGIRUVSHFL¿HGGLVHDVHV6HF3URYLVR
(ii)(b) Rule 3A(i)
662
12.5.8Certain Funds and Charitable Institution - Sec. 80G(5)(vi) Rule
11AA, Form 10G
663
12.5.9Power to reduce or waive penalty, or interest - Sec. 273A663
12.6 SOME APPROVALS SUN-SET BY NOW 663
I-152
PAGE
12.4 APPROVALS BY CENTRAL GOVERNMENT ETC.
12.4.1Leasing Aircraft - Section 10(6BB) 657
12.4.2Engagement of Technical Assistants - Section 10(8A) etc. 657
12.4.3Professional Body - Section 10(23A), proviso 1(ii) 657
12.4.4LIC Pension Fund - Section 10(23AAB)(ii) 658
12.4.5Khadi/Village Industries Promotion - Section 10(23B) 658
12.4.6Venture Capital Co./Fund - Section 10(23FB) 658
12.4.7Health Insurance - Section 17(2) 658
12.4.8Site Restoration Fund - Section 33ABA(1)(a) 658
12.4.96FLHQWL¿F5HVHDUFK([SHQGLWXUH6HFWLRQ5XOHV'(659
12.4.10Eligible Project - Section 35AC(1), Rule 11L 659
12.4.11Special Business - Section 35AD(2)(iii)(b) 659
12.4.126SHFL¿HG(QWLW\HQJDJHGLQSURYLGLQJORQJWHUP¿QDQFH6HFWLRQ
36(1)(viii)
659
12.4.13Turnkey Power Projects by Foreign Co. - Sec. 44BBB 660
12.4.14Investment in bonds - Sec. 54EC 660
12.4.15Amalgamation/Demerger - Sec. 72A 660
12.4.16Demerger of Companies u/s 72A(5) - Sec. 2(19AA)(vii) 660
12.4.17Foreign Companies - Concessional rate of Tax - Sec. 115A(1)(b) 661
12.5 APPROVAL BY CHIEF CIT, DG ETC.
12.5.1Approved Gratuity Fund - Sec. 2(5) Part C of Fourth Schedule661
12.5.2Approved Superannuation fund - Sec. 2(6) Part B of Fourth
Schedule
661
12.5.3Recognition of Provident Fund - Sec. 2(38) Part A, Fourth
Schedule
661
12.5.4Fund established for Employees welfare - Sec. 10(23AAA)(b)
Rule 16C, Form No. 9
662
12.5.5Fund or trust or institution - Sec. 10(23C)(iv)/(v)/(vi)/(via) 662
12.5.6Trust - Procedure for Registration - Sec. 12AB Rule 17A, Form
10A
662
12.5.7+RVSLWDODSSURYHGIRUVSHFL¿HGGLVHDVHV6HF3URYLVR
(ii)(b) Rule 3A(i)
662
12.5.8Certain Funds and Charitable Institution - Sec. 80G(5)(vi) Rule
11AA, Form 10G
663
12.5.9Power to reduce or waive penalty, or interest - Sec. 273A663
12.6 SOME APPROVALS SUN-SET BY NOW 663
I-153 #/.4%.43
PAGE
DIVISION THIRTEEN
STT, DDT, Tax on Liquidation, Reduction and Buy Back,
MAT, AMT and WT
13.1 SECURITIES TRANSACTION TAX - STT COMMODITIES
TRANSACTION TAX - CTT
13.1.1Broad scheme 666
13.1.2,PSRUWDQWGH¿QLWLRQV 667
13.1.3Rate of security transaction tax 667
13.1.4Value of taxable securities transaction 669
13.1.5Collection and payment 669
13.1.6Filing of return and penalty 670
13.1.7Commodity transaction tax - CTT 670
13.1.8,PSRUWDQWGH¿QLWLRQV 670
13.1.9Rate of commodity transaction tax - w.e.f. 1.4.2020 671
13.1.10Collection and payment 671
13.1.11Filing of Return and Penalty 672
13.2 DIVIDEND DISTRIBUTION TAX - DDT
13.2.1Broad scheme of DDT u/s 115-O 673
13.2.2Deemed dividend u/s 2(22) 674
13.2.3Rates of dividend distribution tax 675
13.3 TAX ON LIQUIDATION, REDUCTION AND BUY BACK
13.3.1Liquidation of companies and taxability 676
13.3.2Reduction of share capital and taxability 677
13.3.3Capital Gains on Purchase by Company of its own Shares or
RWKHU6SHFL¿HG6HFXULWLHV%X\%DFN
678
13.4 MINIMUM ALTERNATE TAX - MAT
13.4.1Applicability 680
13.4.2%RRNSUR¿WFRPSXWDWLRQ 681
13.4.3MAT credit u/s 115JAA 684
13.4.4Other provisions of MAT 685
13.4.5Decisions 686
PAGE
DIVISION THIRTEEN
STT, DDT, Tax on Liquidation, Reduction and Buy Back,
MAT, AMT and WT
13.1 SECURITIES TRANSACTION TAX - STT COMMODITIES
TRANSACTION TAX - CTT
13.1.1Broad scheme 666
13.1.2,PSRUWDQWGH¿QLWLRQV 667
13.1.3Rate of security transaction tax 667
13.1.4Value of taxable securities transaction 669
13.1.5Collection and payment 669
13.1.6Filing of return and penalty 670
13.1.7Commodity transaction tax - CTT 670
13.1.8,PSRUWDQWGH¿QLWLRQV 670
13.1.9Rate of commodity transaction tax - w.e.f. 1.4.2020 671
13.1.10Collection and payment 671
13.1.11Filing of Return and Penalty 672
13.2 DIVIDEND DISTRIBUTION TAX - DDT
13.2.1Broad scheme of DDT u/s 115-O 673
13.2.2Deemed dividend u/s 2(22) 674
13.2.3Rates of dividend distribution tax 675
13.3 TAX ON LIQUIDATION, REDUCTION AND BUY BACK
13.3.1Liquidation of companies and taxability 676
13.3.2Reduction of share capital and taxability 677
13.3.3Capital Gains on Purchase by Company of its own Shares or
RWKHU6SHFL¿HG6HFXULWLHV%X\%DFN
678
13.4 MINIMUM ALTERNATE TAX - MAT
13.4.1Applicability 680
13.4.2%RRNSUR¿WFRPSXWDWLRQ 681
13.4.3MAT credit u/s 115JAA 684
13.4.4Other provisions of MAT 685
13.4.5Decisions 686
#/.4%.43
I-154
PAGE
13.5 ALTERNATE MINIMUM TAX - AMT
13.5.1Broad scheme of AMT u/s 115JC 687
13.5.2Applicability of AMT 688
13.5.3Adjusted total income - ATI 688
13.5.4Tax credit of AMT u/s 115JD 688
13.5.5Other provisions of AMT 689
DIVISION FOURTEEN
RTI, Ombudsman
14.1 RTI - RIGHT TO INFORMATION
14.1.1Right to information - General 691
14.1.2Rights to citizens 693
14.1.3Scope 693
14.1.4Process 693
14.1.5Time limits for replying 694
14.1.6Fees for information 694
14.1.7Partial disclosure 695
14.1.8Exclusion of certain agencies 695
14.1.9Information exclusions 696
14.1.10Filing of appeal 697
14.1.11Filing of complaints 698
14.1.12Role of the government 698
14.1.13Power to make rules 699
14.1.14Links to web 699
14.2 OMBUDSMAN
14.2.1Introduction 700
14.2.2Income tax ombudsman 701
14.2.3Objective behind the guidelines 701
14.2.4Disputes to be considered by ombudsman 701
14.2.5Power and duties 702
14.2.6Applying to ombudsman 703
14.2.7Time limit for making the application 703
14.2.8Bar against complaint 704
I-154
PAGE
13.5 ALTERNATE MINIMUM TAX - AMT
13.5.1Broad scheme of AMT u/s 115JC 687
13.5.2Applicability of AMT 688
13.5.3Adjusted total income - ATI 688
13.5.4Tax credit of AMT u/s 115JD 688
13.5.5Other provisions of AMT 689
DIVISION FOURTEEN
RTI, Ombudsman
14.1 RTI - RIGHT TO INFORMATION
14.1.1Right to information - General 691
14.1.2Rights to citizens 693
14.1.3Scope 693
14.1.4Process 693
14.1.5Time limits for replying 694
14.1.6Fees for information 694
14.1.7Partial disclosure 695
14.1.8Exclusion of certain agencies 695
14.1.9Information exclusions 696
14.1.10Filing of appeal 697
14.1.11Filing of complaints 698
14.1.12Role of the government 698
14.1.13Power to make rules 699
14.1.14Links to web 699
14.2 OMBUDSMAN
14.2.1Introduction 700
14.2.2Income tax ombudsman 701
14.2.3Objective behind the guidelines 701
14.2.4Disputes to be considered by ombudsman 701
14.2.5Power and duties 702
14.2.6Applying to ombudsman 703
14.2.7Time limit for making the application 703
14.2.8Bar against complaint 704
I-155 #/.4%.43
PAGE
14.2.9Procedure 704
14.2.10Details required for the application 704
14.2.11Proceedings before the ombudsman 704
14.2.12Award 705
14.2.13List of income tax ombudsman 706
DIVISION FIFTEEN
Drafting of Deeds
15.1 Introduction 710
15.2 Document 711
15.3 Deeds poll and indenture 711
15.4 Stages in business contracts 711
15.5 Simple words 712
15.6 Figures and words 712
15.7 Components or parts of a document 712
15.8 Non-operative parts of a deed 712
15.9 Operative parts of a deed 715
15.10Stamp duty 717
15.11Registration 718
15.12Precautions 719
DIVISION SIXTEEN
Agreement, MOU
16.1 Agreement - Meaning of 721
16.2 When agreement deemed to be void 721
16.3 Who can sign an agreement? 722
16.4 An agreement does not require attestation 722
16.5 Stamp duty on agreement differs from State-to-State 722
16.6 Registration in case of Immovable property worth Rs. 100 or
more is compulsory
722
16.7 For MOU’s refer Chapter 46 (Case studies) 722
PAGE
14.2.9Procedure 704
14.2.10Details required for the application 704
14.2.11Proceedings before the ombudsman 704
14.2.12Award 705
14.2.13List of income tax ombudsman 706
DIVISION FIFTEEN
Drafting of Deeds
15.1 Introduction 710
15.2 Document 711
15.3 Deeds poll and indenture 711
15.4 Stages in business contracts 711
15.5 Simple words 712
15.6 Figures and words 712
15.7 Components or parts of a document 712
15.8 Non-operative parts of a deed 712
15.9 Operative parts of a deed 715
15.10Stamp duty 717
15.11Registration 718
15.12Precautions 719
DIVISION SIXTEEN
Agreement, MOU
16.1 Agreement - Meaning of 721
16.2 When agreement deemed to be void 721
16.3 Who can sign an agreement? 722
16.4 An agreement does not require attestation 722
16.5 Stamp duty on agreement differs from State-to-State 722
16.6 Registration in case of Immovable property worth Rs. 100 or
more is compulsory
722
16.7 For MOU’s refer Chapter 46 (Case studies) 722
#/.4%.43
I-156
PAGE
DIVISION SEVENTEEN
Gift, Wills, Family Arrangements
17.1 GIFT
17.1.1Gift - General 724
17.1.2Taxation of gifts 725
17.1.35HIHUHQFHWRYDOXDWLRQRI¿FHU727
17.1.4Burden to prove genuineness of gift 727
17.2 WILLS
17.2.1Introduction 729
17.2.2Terminology 729
17.2.3What is a will? 730
17.2.4Codicil 730
17.2.5Will v. Nomination 731
17.2.6Kinds of wills 731
17.2.7Who can make a will? 732
17.2.8Law governing testator 732
17.2.9Effect of muslim law 732
17.2.10Execution 732
17.2.11Attestation 733
17.2.12Revocation and revival 733
17.2.13Deposit and registration 733
17.2.14Probate 733
17.2.15Interpretation of wills 733
17.2.16Disadvantages of will 734
17.2.17Discretionary trust by will 734
17.3 FAMILY ARRANGEMENTS
17.3.1Introduction 735
17.3.2Characteristics of a family arrangement 736
17.3.3Registration 736
I-156
PAGE
DIVISION SEVENTEEN
Gift, Wills, Family Arrangements
17.1 GIFT
17.1.1Gift - General 724
17.1.2Taxation of gifts 725
17.1.35HIHUHQFHWRYDOXDWLRQRI¿FHU727
17.1.4Burden to prove genuineness of gift 727
17.2 WILLS
17.2.1Introduction 729
17.2.2Terminology 729
17.2.3What is a will? 730
17.2.4Codicil 730
17.2.5Will v. Nomination 731
17.2.6Kinds of wills 731
17.2.7Who can make a will? 732
17.2.8Law governing testator 732
17.2.9Effect of muslim law 732
17.2.10Execution 732
17.2.11Attestation 733
17.2.12Revocation and revival 733
17.2.13Deposit and registration 733
17.2.14Probate 733
17.2.15Interpretation of wills 733
17.2.16Disadvantages of will 734
17.2.17Discretionary trust by will 734
17.3 FAMILY ARRANGEMENTS
17.3.1Introduction 735
17.3.2Characteristics of a family arrangement 736
17.3.3Registration 736
I-157 #/.4%.43
PAGE
DIVISION EIGHTEEN
Power of Attorney etc.
18.1 POWER OF ATTORNEY
18.1.1Act 739
18.1.2Definition 739
18.1.3Two or more executants or attorney holders 740
18.1.4Who can execute? 740
18.1.5Types 740
18.1.6Cancellation 740
18.1.7Unilateral generally 740
18.1.8Stamp duty 740
18.1.9Is authentication mandatory? 740
18.1.10When is registration required? 740
18.2 INDEMNITY AND GUARANTEE
18.2.1Indemnity 741
18.2.2Indemnity v. Guarantee 741
18.2.3Clause for indemnity 742
18.2.4Separate bond 742
18.2.5Registration 742
DIVISION NINETEEN
Lease, Rent, License etc.
19.1 Lease 744
19.2 Rent 744
19.3 Leave & License 745
19.4 Lease v. License 745
19.5 Advantages of lease 746
DIVISION TWENTY
Sale/transfer of properties
20.1 MOVABLE PROPERTY
20.1.1What are movables? 748
20.1.2Meaning of sale 749
PAGE
DIVISION EIGHTEEN
Power of Attorney etc.
18.1 POWER OF ATTORNEY
18.1.1Act 739
18.1.2Definition 739
18.1.3Two or more executants or attorney holders 740
18.1.4Who can execute? 740
18.1.5Types 740
18.1.6Cancellation 740
18.1.7Unilateral generally 740
18.1.8Stamp duty 740
18.1.9Is authentication mandatory? 740
18.1.10When is registration required? 740
18.2 INDEMNITY AND GUARANTEE
18.2.1Indemnity 741
18.2.2Indemnity v. Guarantee 741
18.2.3Clause for indemnity 742
18.2.4Separate bond 742
18.2.5Registration 742
DIVISION NINETEEN
Lease, Rent, License etc.
19.1 Lease 744
19.2 Rent 744
19.3 Leave & License 745
19.4 Lease v. License 745
19.5 Advantages of lease 746
DIVISION TWENTY
Sale/transfer of properties
20.1 MOVABLE PROPERTY
20.1.1What are movables? 748
20.1.2Meaning of sale 749
#/.4%.43
I-158
PAGE
20.1.3Who can enter into a transaction for sale? 749
20.1.46DOH6LJQL¿FDQWLQJUHGLHQWV749
20.1.5Stamp duty on sale deed of movables 750
20.1.6Assignment 750
20.1.7Stamp duty and attestation 750
20.1.8Registration 750
20.2 IMMOVABLE PROPERTY
20.2.1Meaning of immovable property 751
20.2.2Conveyance v. Agreement 752
20.2.3Stamp duty 752
20.2.4Registration 754
20.2.5Immovable property transactions 754
20.2.6Developer agreement 755
20.2.7Organizer’s arrangements 757
20.2.8Tenanted property 758
20.2.9Tips and traps 758
20.3 TAXATION OF IMMOVABLE PROPERTY TRANSACTIONS
20.3.1Tax implications 761
20.3.2Capital gains 761
20.3.3Notional sale consideration u/s. 50C 765
20.3.4Exemption for investment 770
20.3.5Business income 774
20.3.6Deductions u/s. 80-IBA etc. 774
20.3.7Developer agreement 775
20.3.8Partner’s contribution - Whether taxable? 777
20.3.9Contribution to LLP 778
20.3.10Family arrangement 780
20.3.11Tips and traps 780
DIVISION TWENTY ONE
Tax Audit
21.1 Meaning of Audit 781
21.2 Objective 782
21.3 Applicability of Tax Audit (Section 44AB) 782
I-158
PAGE
20.1.3Who can enter into a transaction for sale? 749
20.1.46DOH6LJQL¿FDQWLQJUHGLHQWV749
20.1.5Stamp duty on sale deed of movables 750
20.1.6Assignment 750
20.1.7Stamp duty and attestation 750
20.1.8Registration 750
20.2 IMMOVABLE PROPERTY
20.2.1Meaning of immovable property 751
20.2.2Conveyance v. Agreement 752
20.2.3Stamp duty 752
20.2.4Registration 754
20.2.5Immovable property transactions 754
20.2.6Developer agreement 755
20.2.7Organizer’s arrangements 757
20.2.8Tenanted property 758
20.2.9Tips and traps 758
20.3 TAXATION OF IMMOVABLE PROPERTY TRANSACTIONS
20.3.1Tax implications 761
20.3.2Capital gains 761
20.3.3Notional sale consideration u/s. 50C 765
20.3.4Exemption for investment 770
20.3.5Business income 774
20.3.6Deductions u/s. 80-IBA etc. 774
20.3.7Developer agreement 775
20.3.8Partner’s contribution - Whether taxable? 777
20.3.9Contribution to LLP 778
20.3.10Family arrangement 780
20.3.11Tips and traps 780
DIVISION TWENTY ONE
Tax Audit
21.1 Meaning of Audit 781
21.2 Objective 782
21.3 Applicability of Tax Audit (Section 44AB) 782
I-159 #/.4%.43
PAGE
21.4 &RPSXWDWLRQRIWRWDOWXUQRYHULQFHUWDLQVSHFL¿HGFDVHV784
21.5 Reporting 784
21.6 Due dates of Tax Audit 785
21.7 Penalty for non-compliance (Section 271B) 785
21.8 Tax Audit Checklist for Professionals 785
21.9 Documentation for Tax Audit 786
21.10 Compliance with Standards of Auditing in Tax Audit 787
DIVISION TWENTY TWO
Income Computation & Disclosure Standards
22.1 Why ICDS? 792
22.2 Applicability 792
22.3 6LJQL¿FDQWDPHQGPHQWVLQUHODWLRQWRQRWL¿HGLQFRPHFRPSXWD
tion and disclosure standards
792
22.4 1RWL¿HGLQFRPHFRPSXWDWLRQDQGGLVFORVXUHVWDQGDUGV794
22.5 Income computation and disclosure standard I : Accounting
policies
795
22.6 Income computation and disclosure standard II : Valuation of
inventories
796
22.7 Income computation and disclosure standard III : Construction
contracts
799
22.8 Income computation and disclosure standard IV : Revenue
recognition
802
22.9 ,QFRPHFRPSXWDWLRQDQGGLVFORVXUHVWDQGDUG97DQJLEOH¿[HG
assets
804
22.10Income computation and disclosure standard VI : Effect of
change in foreign exchange rates
806
22.11Income computation and disclosure standard VII : Government
grants
808
22.12Income computation and disclosure standard VIII : Securities811
22.13Income computation and disclosure standard IX : Borrowing cost812
22.14Income computation and disclosure standard X : Provisions,
contingent liabilities and contingent assets
814
PAGE
21.4 &RPSXWDWLRQRIWRWDOWXUQRYHULQFHUWDLQVSHFL¿HGFDVHV784
21.5 Reporting 784
21.6 Due dates of Tax Audit 785
21.7 Penalty for non-compliance (Section 271B) 785
21.8 Tax Audit Checklist for Professionals 785
21.9 Documentation for Tax Audit 786
21.10 Compliance with Standards of Auditing in Tax Audit 787
DIVISION TWENTY TWO
Income Computation & Disclosure Standards
22.1 Why ICDS? 792
22.2 Applicability 792
22.3 6LJQL¿FDQWDPHQGPHQWVLQUHODWLRQWRQRWL¿HGLQFRPHFRPSXWD
tion and disclosure standards
792
22.4 1RWL¿HGLQFRPHFRPSXWDWLRQDQGGLVFORVXUHVWDQGDUGV794
22.5 Income computation and disclosure standard I : Accounting
policies
795
22.6 Income computation and disclosure standard II : Valuation of
inventories
796
22.7 Income computation and disclosure standard III : Construction
contracts
799
22.8 Income computation and disclosure standard IV : Revenue
recognition
802
22.9 ,QFRPHFRPSXWDWLRQDQGGLVFORVXUHVWDQGDUG97DQJLEOH¿[HG
assets
804
22.10Income computation and disclosure standard VI : Effect of
change in foreign exchange rates
806
22.11Income computation and disclosure standard VII : Government
grants
808
22.12Income computation and disclosure standard VIII : Securities811
22.13Income computation and disclosure standard IX : Borrowing cost812
22.14Income computation and disclosure standard X : Provisions,
contingent liabilities and contingent assets
814
#/.4%.43
I-160
PAGE
DIVISION TWENTY THREE
Real Estate (Regulation and Development) Act, 2016
(RERA)
23.1 Why RERA? 820
23.2 Introduction of RERA, 2016 820
23.3 ,PSRUWDQWGH¿QLWLRQ 820
23.4 Registration (Section 3) 822
23.5 Application for registration (Section 4) 823
23.6 Extension and revocation of registration 825
23.7 Audit of accounts 826
23.8 Registration and functions of real estate agent (Sections 9 & 10)827
23.9 Functions and duties of promoters 828
23.10Other obligations of promoters 830
23.11)LOLQJRIFRPSOLDQWZLWKWKHDXWKRULW\RUDGMXGLFDWLRQRI¿FHU832
23.12Functions of authority 832
23.13Powers of authority 833
23.145HFWL¿FDWLRQRIRUGHU 834
23.15Appeals to appellate tribunal 834
23.16Representation by professionals 835
23.17Appeal to High Court 835
23.18Offences, penalties and imprisonment 835
23.19Adjudication of compensation 837
23.201DPHVRIIHZVLJQL¿FDQWIRUPVLQYDULRXV6WDWH838
DIVISION TWENTY FOUR
E-Proceedings under the Income Tax Act, 1961
24.1 Introduction 840
24.2 Income Tax Business Application 841
24.3 Assessment through E-proceedings facility 841
24.4 E-Nivaran Scheme 842
24.5 Faceless Assessment - Sub-sections (3A), (3B) and (3C) of
Section 143 (Applicable upto 31-3-2021)
842
24.6 Insertion of new Section 144B - ‘Faceless assessment’ w.e.f.
1.4.2021
843
I-160
PAGE
DIVISION TWENTY THREE
Real Estate (Regulation and Development) Act, 2016
(RERA)
23.1 Why RERA? 820
23.2 Introduction of RERA, 2016 820
23.3 ,PSRUWDQWGH¿QLWLRQ 820
23.4 Registration (Section 3) 822
23.5 Application for registration (Section 4) 823
23.6 Extension and revocation of registration 825
23.7 Audit of accounts 826
23.8 Registration and functions of real estate agent (Sections 9 & 10)827
23.9 Functions and duties of promoters 828
23.10Other obligations of promoters 830
23.11)LOLQJRIFRPSOLDQWZLWKWKHDXWKRULW\RUDGMXGLFDWLRQRI¿FHU832
23.12Functions of authority 832
23.13Powers of authority 833
23.145HFWL¿FDWLRQRIRUGHU 834
23.15Appeals to appellate tribunal 834
23.16Representation by professionals 835
23.17Appeal to High Court 835
23.18Offences, penalties and imprisonment 835
23.19Adjudication of compensation 837
23.201DPHVRIIHZVLJQL¿FDQWIRUPVLQYDULRXV6WDWH838
DIVISION TWENTY FOUR
E-Proceedings under the Income Tax Act, 1961
24.1 Introduction 840
24.2 Income Tax Business Application 841
24.3 Assessment through E-proceedings facility 841
24.4 E-Nivaran Scheme 842
24.5 Faceless Assessment - Sub-sections (3A), (3B) and (3C) of
Section 143 (Applicable upto 31-3-2021)
842
24.6 Insertion of new Section 144B - ‘Faceless assessment’ w.e.f.
1.4.2021
843
I-161 #/.4%.43
PAGE
24.7 Few Types of Error Codes and their Resolutions 851
24.8 Faceless Appeal Scheme, 2020 852
24.9 Faceless Penalty Scheme, 2021 860
DIVISION TWENTY FIVE
Prohibition of Benami Property Transactions Act, 1988
25.1 Introduction 868
25.2 .H\'H¿QLWLRQV 868
25.3 Prohibitions under Benami Act 870
25.4 Authorities and Jurisdiction 871
25.5 Notice and attachment of property involved in Benami transaction873
25.6 Manner of Service of notice 875
25.7 Adjudication of Benami property 875
25.8 &RQ¿VFDWLRQRI%HQDPL3URSHUW\877
25.9 0DQDJHPHQWDQG3RVVHVVLRQRIWKHSURSHUW\FRQ¿VFDWHG877
25.10Procedure and Powers of Appellate Tribunal 878
25.11Appeals to Appellate Tribunal 878
25.125HFWL¿FDWLRQRIPLVWDNHV 879
25.13Right to Representation 879
25.14Appeal to High Court 880
25.15Penalties under Benami Act 880
25.16Proof of entries in records or documents and Previous Sanction881
25.17Certain Transfers to be null and void 882
25.18Offences by Companies 882
25.19Notice not to be invalid on certain grounds 882
25.20Prosecution of action taken in good faith 882
25.21Proceeding against legal representative 883
25.22Act to have overriding effect 883
PAGE
24.7 Few Types of Error Codes and their Resolutions 851
24.8 Faceless Appeal Scheme, 2020 852
24.9 Faceless Penalty Scheme, 2021 860
DIVISION TWENTY FIVE
Prohibition of Benami Property Transactions Act, 1988
25.1 Introduction 868
25.2 .H\'H¿QLWLRQV 868
25.3 Prohibitions under Benami Act 870
25.4 Authorities and Jurisdiction 871
25.5 Notice and attachment of property involved in Benami transaction873
25.6 Manner of Service of notice 875
25.7 Adjudication of Benami property 875
25.8 &RQ¿VFDWLRQRI%HQDPL3URSHUW\877
25.9 0DQDJHPHQWDQG3RVVHVVLRQRIWKHSURSHUW\FRQ¿VFDWHG877
25.10Procedure and Powers of Appellate Tribunal 878
25.11Appeals to Appellate Tribunal 878
25.125HFWL¿FDWLRQRIPLVWDNHV 879
25.13Right to Representation 879
25.14Appeal to High Court 880
25.15Penalties under Benami Act 880
25.16Proof of entries in records or documents and Previous Sanction881
25.17Certain Transfers to be null and void 882
25.18Offences by Companies 882
25.19Notice not to be invalid on certain grounds 882
25.20Prosecution of action taken in good faith 882
25.21Proceeding against legal representative 883
25.22Act to have overriding effect 883
#/.4%.43
I-162
PAGE
Book Two : Case Studies
DIVISION TWENTY SIX
Tax Practice
26.1 Form 39 889
26.2 &HUWL¿FDWHE\$VVHVVLQJ2I¿FHU891
26.3 &HUWL¿FDWHE\WKHVHQLRU 892
26.4 Form 40 893
26.5 Form 38 894
26.6 Letter of engagement (from client to the tax practitioner)895
26.7 Schedule of recommended fees by ICAI (the institute of chartered
accountants of India)
898
26.8 Power of attorney : General 911
26.9 3RZHURIDWWRUQH\6SHFL¿F 913
26.10Vakalatnama 914
26.11Time sheet 916
26.128QLTXH¿OH1RLQFRPSXWHU 917
26.13*URXSLQJRI¿OHV 919
26.14)URQWVLGHDQGLQVLGHRI¿OH 920
26.15SMS 922
26.16Case diary 923
26.17Message slip 924
26.18Daily report 925
26.19Dispatch register 926
26.20Inward register 927
26.21Due date register 928
26.22Memo : Presence required 929
26.23Memo : Forwarding etc. 931
26.24Memo : Requisition 933
I-162
PAGE
Book Two : Case Studies
DIVISION TWENTY SIX
Tax Practice
26.1 Form 39 889
26.2 &HUWL¿FDWHE\$VVHVVLQJ2I¿FHU891
26.3 &HUWL¿FDWHE\WKHVHQLRU 892
26.4 Form 40 893
26.5 Form 38 894
26.6 Letter of engagement (from client to the tax practitioner)895
26.7 Schedule of recommended fees by ICAI (the institute of chartered
accountants of India)
898
26.8 Power of attorney : General 911
26.9 3RZHURIDWWRUQH\6SHFL¿F 913
26.10Vakalatnama 914
26.11Time sheet 916
26.128QLTXH¿OH1RLQFRPSXWHU 917
26.13*URXSLQJRI¿OHV 919
26.14)URQWVLGHDQGLQVLGHRI¿OH 920
26.15SMS 922
26.16Case diary 923
26.17Message slip 924
26.18Daily report 925
26.19Dispatch register 926
26.20Inward register 927
26.21Due date register 928
26.22Memo : Presence required 929
26.23Memo : Forwarding etc. 931
26.24Memo : Requisition 933
I-163 #/.4%.43
PAGE
DIVISION TWENTY SEVEN
Pre-Assessment Procedures
27.1 Proforma of Notice u/s 210(3) 935
27.2 Draft Reply to Notice issued u/s 210(3) after the last day of
February
936
27.3 Draft Reply to Notice issued u/s 210(3) and advance tax paid938
27.4 PAN Application - Instructions 939
27.5 TAN Application - Instructions 945
27.6 Correction/change in PAN data or surrender of PAN 946
27.7 Correction/change in TAN data or surrender of TAN 956
27.8 Notice u/s 272B for having Duplicate PAN 957
27.9 Reply to Notice issued u/s 272B 958
DIVISION TWENTY EIGHT
Assessment - Principles and Issues
28.1 Basics - Assessment Procedure 962
28.1.1Notices, Compliances 962
28.1.2Adjournment, Authorized Representative, Order Sheet 978
28.2 Scrutiny Assessment - Tools 985
28.2.1Enquiry, Summons 985
28.2.2$I¿GDYLW6WDWHPHQWRQ2DWK 988
28.2.3Directions by Joint CIT - Sec. 144A 995
28.2.4Special Audit - Sec. 142(2A) 998
28.2.5Survey 1001
28.3 Scrutiny Assessment - Issues 1028
28.3.1Bogus, Benami Transactions 1028
28.3.2Method of Accounting, Book Result, Stock Valuation 1033
28.3.3Cash Credits, Share Capital, Gift 1070
28.3.4Disallowance of Expenses, Losses 1087
28.3.5Unexplained - Expenditure 1109
28.3.6Unexplained - Investment 1119
28.4 Re-opening of Assessment 1160
28.5 Post-search Assessment 1187
PAGE
DIVISION TWENTY SEVEN
Pre-Assessment Procedures
27.1 Proforma of Notice u/s 210(3) 935
27.2 Draft Reply to Notice issued u/s 210(3) after the last day of
February
936
27.3 Draft Reply to Notice issued u/s 210(3) and advance tax paid938
27.4 PAN Application - Instructions 939
27.5 TAN Application - Instructions 945
27.6 Correction/change in PAN data or surrender of PAN 946
27.7 Correction/change in TAN data or surrender of TAN 956
27.8 Notice u/s 272B for having Duplicate PAN 957
27.9 Reply to Notice issued u/s 272B 958
DIVISION TWENTY EIGHT
Assessment - Principles and Issues
28.1 Basics - Assessment Procedure 962
28.1.1Notices, Compliances 962
28.1.2Adjournment, Authorized Representative, Order Sheet 978
28.2 Scrutiny Assessment - Tools 985
28.2.1Enquiry, Summons 985
28.2.2$I¿GDYLW6WDWHPHQWRQ2DWK 988
28.2.3Directions by Joint CIT - Sec. 144A 995
28.2.4Special Audit - Sec. 142(2A) 998
28.2.5Survey 1001
28.3 Scrutiny Assessment - Issues 1028
28.3.1Bogus, Benami Transactions 1028
28.3.2Method of Accounting, Book Result, Stock Valuation 1033
28.3.3Cash Credits, Share Capital, Gift 1070
28.3.4Disallowance of Expenses, Losses 1087
28.3.5Unexplained - Expenditure 1109
28.3.6Unexplained - Investment 1119
28.4 Re-opening of Assessment 1160
28.5 Post-search Assessment 1187
#/.4%.43
I-164
PAGE
DIVISION TWENTY NINE
5HFWLÀFDWLRQRI0LVWDNH
29.1 Credit not allowed for TDS in intimation u/s 143(1) 1225
29.2 Interest wrongly charged u/s 234B/234C 1227
29.3 Error of principle - Same income considered twice 1229
29.4 Deduction u/s 80-IAC not increased and Totalling Mistake1231
29.5 'HGXFWLRQXV,$KDVWREHDOORZHGDWDKLJKHU¿JXUHWKDQ
claimed in the return of income with reference to business
income as assessed
1233
29.6 Set off not allowed for brought forward losses in the past1235
29.7 Excessive Interest charged while giving effect to ITSC Order1237
DIVISION THIRTY
Revision
30.1 Ad hocGLVDOORZDQFHVRXWRIH[SHQVHV7LPHIRU¿OLQJDSSHDO
has expired
1242
30.2 Disallowance out of expenses - Deduction u/s 80HHC not
increased correspondingly
1248
30.3 Addition for low withdrawals and deduction u/ss 80TTA and
80G not granted
1252
30.4 Revision Petition to challenge 1255
Lump Sum addition 1255
Ad hoc Disallowances 1255
30.5 Assessee’s income from retail trade and covered by sec. 44AF
- Ad hoc disallowance out of expenses
1258
30.6 Explanation in response to Notice u/s 263 - No interest offered
on FDR of ` 1 Crore
1261
30.7 CIT proposes 263 against post search assessment 1263
30.8 Disallowance under section 36(1)(iii) cannot be attracted where
own surplus fund has been utilised to give interest free loans
to its sister concern
1270
DIVISION THIRTY ONE
Appeals to CIT (Appeals)
31.1 Reconciliation of Income Returned and Assessed 1277
31.2 Ad hoc disallowances out of manufacturing and administrative
H[SHQVHV&KDOOHQJLQJE\¿OLQJDSSHDOEHIRUH&,7$SSHDOV
1279
I-164
PAGE
DIVISION TWENTY NINE
5HFWLÀFDWLRQRI0LVWDNH
29.1 Credit not allowed for TDS in intimation u/s 143(1) 1225
29.2 Interest wrongly charged u/s 234B/234C 1227
29.3 Error of principle - Same income considered twice 1229
29.4 Deduction u/s 80-IAC not increased and Totalling Mistake1231
29.5 'HGXFWLRQXV,$KDVWREHDOORZHGDWDKLJKHU¿JXUHWKDQ
claimed in the return of income with reference to business
income as assessed
1233
29.6 Set off not allowed for brought forward losses in the past1235
29.7 Excessive Interest charged while giving effect to ITSC Order1237
DIVISION THIRTY
Revision
30.1 Ad hocGLVDOORZDQFHVRXWRIH[SHQVHV7LPHIRU¿OLQJDSSHDO
has expired
1242
30.2 Disallowance out of expenses - Deduction u/s 80HHC not
increased correspondingly
1248
30.3 Addition for low withdrawals and deduction u/ss 80TTA and
80G not granted
1252
30.4 Revision Petition to challenge 1255
Lump Sum addition 1255
Ad hoc Disallowances 1255
30.5 Assessee’s income from retail trade and covered by sec. 44AF
- Ad hoc disallowance out of expenses
1258
30.6 Explanation in response to Notice u/s 263 - No interest offered
on FDR of ` 1 Crore
1261
30.7 CIT proposes 263 against post search assessment 1263
30.8 Disallowance under section 36(1)(iii) cannot be attracted where
own surplus fund has been utilised to give interest free loans
to its sister concern
1270
DIVISION THIRTY ONE
Appeals to CIT (Appeals)
31.1 Reconciliation of Income Returned and Assessed 1277
31.2 Ad hoc disallowances out of manufacturing and administrative
H[SHQVHV&KDOOHQJLQJE\¿OLQJDSSHDOEHIRUH&,7$SSHDOV
1279
I-165 #/.4%.43
PAGE
31.3 Surrender of ` 15,00,000 during search retracted - Retraction
QRWDFFHSWHGE\$VVHVVLQJ2I¿FHU)LOLQJ¿UVWDSSHDO
1288
31.4 Assessment reopened - Income of Benamidar included in
reassessment - Filing of Appeal
1291
31.5 Books of account rejected and income estimated by invoking
sec. 145 read with sec. 144 - Routine disallowance of expenses
- Filing of appeal before CIT(Appeals)
1295
31.6 1RUHDOGHOD\LQ¿OLQJDSSHDO1299
31.7 Condonation of delay 1300
31.8 Additional grounds of appeal before CIT(Appeals) 1302
31.9 Additional evidence - Rule 46A 1304
31.10Ad hocGLVDOORZDQFHVLQ¿UVW\HDURIEXVLQHVV1306
31.11Written submissions before CIT (Appeals) 1308
31.125RXWLQHGLVDOORZDQFHRXWRIH[SHQVHVRQJURXQGRIXQYHUL¿DEOH
nature and alleged personal use
1312
31.13Petition to grant stay of demand 1315
31.14Disallowances and Addition for low withdrawals - Draft of First
Appeal
1317
31.15Power of Attorney to argue before CIT (Appeals) 1321
31.16Material privately obtained by AO - Used without giving
opportunity to the assessee
1322
31.17Disputes in the Directors of the Company - Inability to produce
record before AO
1324
31.18Withdrawal of appeal before CIT(Appeals) 1327
31.19Order by CIT(Appeals) granting withdrawal of appeal 1328
31.20The authorities have to be guided by the legal evidence and
not on general observations based on statements, reports
from investigation wing probabilities, human behaviour, modus
operandi etc.
1329
DIVISION THIRTY TWO
Appeals to - ITAT - High Court - Supreme Court
32.1 Appellate Tribunal Check List - Proforma 1334
32.2 Appellate Tribunal Check List - Filled in 1336
32.3 Filing an appeal before ITAT 1337
32.4 &RYHULQJ OHWWHU IRU ¿OLQJ 3DSHU %RRN DQG 3RZHU RI$WWRUQH\
before ITAT
1341
32.5 Power of Attorney to argue ITAT appeal 1343
PAGE
31.3 Surrender of ` 15,00,000 during search retracted - Retraction
QRWDFFHSWHGE\$VVHVVLQJ2I¿FHU)LOLQJ¿UVWDSSHDO
1288
31.4 Assessment reopened - Income of Benamidar included in
reassessment - Filing of Appeal
1291
31.5 Books of account rejected and income estimated by invoking
sec. 145 read with sec. 144 - Routine disallowance of expenses
- Filing of appeal before CIT(Appeals)
1295
31.6 1RUHDOGHOD\LQ¿OLQJDSSHDO1299
31.7 Condonation of delay 1300
31.8 Additional grounds of appeal before CIT(Appeals) 1302
31.9 Additional evidence - Rule 46A 1304
31.10Ad hocGLVDOORZDQFHVLQ¿UVW\HDURIEXVLQHVV1306
31.11Written submissions before CIT (Appeals) 1308
31.125RXWLQHGLVDOORZDQFHRXWRIH[SHQVHVRQJURXQGRIXQYHUL¿DEOH
nature and alleged personal use
1312
31.13Petition to grant stay of demand 1315
31.14Disallowances and Addition for low withdrawals - Draft of First
Appeal
1317
31.15Power of Attorney to argue before CIT (Appeals) 1321
31.16Material privately obtained by AO - Used without giving
opportunity to the assessee
1322
31.17Disputes in the Directors of the Company - Inability to produce
record before AO
1324
31.18Withdrawal of appeal before CIT(Appeals) 1327
31.19Order by CIT(Appeals) granting withdrawal of appeal 1328
31.20The authorities have to be guided by the legal evidence and
not on general observations based on statements, reports
from investigation wing probabilities, human behaviour, modus
operandi etc.
1329
DIVISION THIRTY TWO
Appeals to - ITAT - High Court - Supreme Court
32.1 Appellate Tribunal Check List - Proforma 1334
32.2 Appellate Tribunal Check List - Filled in 1336
32.3 Filing an appeal before ITAT 1337
32.4 &RYHULQJ OHWWHU IRU ¿OLQJ 3DSHU %RRN DQG 3RZHU RI$WWRUQH\
before ITAT
1341
32.5 Power of Attorney to argue ITAT appeal 1343
#/.4%.43
I-166
PAGE
32.6 Paper Book Index 1345
32.7 Filing Cross Objections to ITAT 1347
32.8 Petition for delay condonation 1350
32.9 Stay Petition before Appellate Tribunal 1352
32.10Additional grounds of appeal and additional evidence 1355
32.113HWLWLRQIRUUHFWL¿FDWLRQRIPLVWDNHEHIRUH,7$71358
32.12Written Submissions before ITAT 1361
32.13Objections to departmental Paper Book 1369
32.145HTXHVWWR,7$7WRGLUHFW$VVHVVLQJ2I¿FHUIRUSURGXFWLRQRI
relevant documents
1372
32.15Request for preponement 1375
32.16Compilation of decisions relied upon 1376
32.17Another Compilation - Additional Evidence 1377
32.18Effect to ITAT Order 1378
32.19Appeal to High Court against ITAT Order 1381
32.20SLP - Settlement Commission could not dispose of by the
cut off date - Abatement of the proceedings to AO as per sec.
245HA - High Court declined to interfere
1384
DIVISION THIRTY THREE
Interest Payable by Assessee
33.1 Higher interest charged by AO 1389
DIVISION THIRTY FOUR
Penalties
34.1 Keeping penalty proceedings in abeyance : Brief Petition1394
34.2 Keeping penalty proceedings in abeyance : Detailed Petition1396
34.3 Routine Disallowances out of Expenses - Concealment 1399
34.4 Penalty u/s 271(1)(c) - Explanation on Merits 1400
34.5 5HSO\WR$VVHVVLQJ2I¿FHUIRUSHQDOW\XVc) - Addition
because method of accounting is changed by the Assessing
2I¿FHU
1404
34.6 First Appeal partly allowed - Both the assessee and department
KDYH¿OHGDSSHDOWR,7$7,7$7DSSHDOLVSHQGLQJGHFLVLRQ
Explanation on merits
1407
I-166
PAGE
32.6 Paper Book Index 1345
32.7 Filing Cross Objections to ITAT 1347
32.8 Petition for delay condonation 1350
32.9 Stay Petition before Appellate Tribunal 1352
32.10Additional grounds of appeal and additional evidence 1355
32.113HWLWLRQIRUUHFWL¿FDWLRQRIPLVWDNHEHIRUH,7$71358
32.12Written Submissions before ITAT 1361
32.13Objections to departmental Paper Book 1369
32.145HTXHVWWR,7$7WRGLUHFW$VVHVVLQJ2I¿FHUIRUSURGXFWLRQRI
relevant documents
1372
32.15Request for preponement 1375
32.16Compilation of decisions relied upon 1376
32.17Another Compilation - Additional Evidence 1377
32.18Effect to ITAT Order 1378
32.19Appeal to High Court against ITAT Order 1381
32.20SLP - Settlement Commission could not dispose of by the
cut off date - Abatement of the proceedings to AO as per sec.
245HA - High Court declined to interfere
1384
DIVISION THIRTY THREE
Interest Payable by Assessee
33.1 Higher interest charged by AO 1389
DIVISION THIRTY FOUR
Penalties
34.1 Keeping penalty proceedings in abeyance : Brief Petition1394
34.2 Keeping penalty proceedings in abeyance : Detailed Petition1396
34.3 Routine Disallowances out of Expenses - Concealment 1399
34.4 Penalty u/s 271(1)(c) - Explanation on Merits 1400
34.5 5HSO\WR$VVHVVLQJ2I¿FHUIRUSHQDOW\XVc) - Addition
because method of accounting is changed by the Assessing
2I¿FHU
1404
34.6 First Appeal partly allowed - Both the assessee and department
KDYH¿OHGDSSHDOWR,7$7,7$7DSSHDOLVSHQGLQJGHFLVLRQ
Explanation on merits
1407
I-167 #/.4%.43
PAGE
34.7 Concealment penalty - Addition of ` 2 Lac on agreed basis 1415
34.8 Loss reduced on assessment - Old decisions in favour of no
SHQDOW\LQVXFKFDVHV/HJDOSRVLWLRQQXOOL¿HGE\DPHQGPHQW
in Explanation 4 to sec. 271(1)( c) w.e.f. 1.4.2003 - Whether
applicable to assessment year 2002-03 for which assessment
is completed in March, 2006
1417
34.9 Dropping the penalty proceedings u/s 271AAC as addition u/s
68 is not tenable
1419
34.10Application to grant immunity from imposition of penalty u/s 270A1422
34.11$QDSSOLFDWLRQWRWKH$VVHVVLQJ2I¿FHUWRJUDQWLPPXQLW\IURP
imposition of penalty under section 270A and from initiation of
proceedings under section 276C or section 276CC shall be
made in Form No.68
1424
DIVISION THIRTY FIVE
Prosecution
35.1 Hearing opportunity by CIT before launching prosecution - Filing
of petition
1426
35.2 'HSDUWPHQWKDVDOUHDG\¿OHGSURVHFXWLRQ7KHDVVHVVHHZDQWV
WR¿OHDSHWLWLRQIRUFRPSRXQGLQJ&RYHULQJ/HWWHU
1429
35.3 Compounding Petition 1430
DIVISION THIRTY SIX
Refunds
36.1 Revalidation of Refund Voucher 1434
36.2 Proforma of Indemnity Bond 1435
36.3 Letter of Grievance 1436
36.4 Refund due to Order of CIT(Appeals) 1437
36.5 Refund Voucher lost by bank 1438
36.6 Indemnity Bond - Refund Voucher lost by bank 1440
36.7 Petition for fresh refund in case of deceased 1441
36.8 Indemnity Bond by Legal Heir 1443
36.9 $I¿GDYLW5HIXQGGXHWR2UGHURI,7$71444
36.10Refund - Due to claim of advance tax challan not taken on
Return of Income
1446
PAGE
34.7 Concealment penalty - Addition of ` 2 Lac on agreed basis 1415
34.8 Loss reduced on assessment - Old decisions in favour of no
SHQDOW\LQVXFKFDVHV/HJDOSRVLWLRQQXOOL¿HGE\DPHQGPHQW
in Explanation 4 to sec. 271(1)( c) w.e.f. 1.4.2003 - Whether
applicable to assessment year 2002-03 for which assessment
is completed in March, 2006
1417
34.9 Dropping the penalty proceedings u/s 271AAC as addition u/s
68 is not tenable
1419
34.10Application to grant immunity from imposition of penalty u/s 270A1422
34.11$QDSSOLFDWLRQWRWKH$VVHVVLQJ2I¿FHUWRJUDQWLPPXQLW\IURP
imposition of penalty under section 270A and from initiation of
proceedings under section 276C or section 276CC shall be
made in Form No.68
1424
DIVISION THIRTY FIVE
Prosecution
35.1 Hearing opportunity by CIT before launching prosecution - Filing
of petition
1426
35.2 'HSDUWPHQWKDVDOUHDG\¿OHGSURVHFXWLRQ7KHDVVHVVHHZDQWV
WR¿OHDSHWLWLRQIRUFRPSRXQGLQJ&RYHULQJ/HWWHU
1429
35.3 Compounding Petition 1430
DIVISION THIRTY SIX
Refunds
36.1 Revalidation of Refund Voucher 1434
36.2 Proforma of Indemnity Bond 1435
36.3 Letter of Grievance 1436
36.4 Refund due to Order of CIT(Appeals) 1437
36.5 Refund Voucher lost by bank 1438
36.6 Indemnity Bond - Refund Voucher lost by bank 1440
36.7 Petition for fresh refund in case of deceased 1441
36.8 Indemnity Bond by Legal Heir 1443
36.9 $I¿GDYLW5HIXQGGXHWR2UGHURI,7$71444
36.10Refund - Due to claim of advance tax challan not taken on
Return of Income
1446
#/.4%.43
I-168
PAGE
DIVISION THIRTY SEVEN
Settlement of Cases
37.1 Covering Letter to Settlement Application 1448
37.2 Settlement Application - Form 34B 1450
DIVISION THIRTY EIGHT
Survey
38.1 Survey u/s 133A - Books of account and other documents
impounded - Statements recorded - Inspection, photocopy and
FHUWL¿HGFRS\RI6WDWHPHQWVUHFRUGHG
1452
38.2 Survey u/s 133A - No proceeding pending - Release of impounded
books etc.
1455
38.3 &,7FDOOLQJUHSRUWIURP$VVHVVLQJ2I¿FHU5HOHDVHRI%RRNVRI
account etc. impounded u/s 133A
1457
38.4 Actual release of books of account etc. u/s 133A by Assessing
2I¿FHU
1458
DIVISION THIRTY NINE
Search & Seizure
39.1 Departmental Rules for Searches and Seizures 1461
39.2 Seizure of Ornaments - CBDT Circular 1465
39.3 Performa of Search Warrant 1466
39.4 Preliminary Statement of person searched before actual
commencement of search
1469
39.5 Language in which statement can be recorded 1470
39.6 Search party asking for some minute details towards the close
of the search when the person is exhausted
1471
39.7 Unlikeable situation may surface such as incomplete cash book1472
39.8 Requisition of books of account of earlier years 1473
39.9 Incomplete and haphazard data on computer 1474
39.10Purchase of immovable property 1476
39.11Enquiry about jewellery - Whether new? 1477
39.12Purchase of agricultural land by minors, gift received and gift
given
1479
39.13An irrelevant question by the search party 1480
I-168
PAGE
DIVISION THIRTY SEVEN
Settlement of Cases
37.1 Covering Letter to Settlement Application 1448
37.2 Settlement Application - Form 34B 1450
DIVISION THIRTY EIGHT
Survey
38.1 Survey u/s 133A - Books of account and other documents
impounded - Statements recorded - Inspection, photocopy and
FHUWL¿HGFRS\RI6WDWHPHQWVUHFRUGHG
1452
38.2 Survey u/s 133A - No proceeding pending - Release of impounded
books etc.
1455
38.3 &,7FDOOLQJUHSRUWIURP$VVHVVLQJ2I¿FHU5HOHDVHRI%RRNVRI
account etc. impounded u/s 133A
1457
38.4 Actual release of books of account etc. u/s 133A by Assessing
2I¿FHU
1458
DIVISION THIRTY NINE
Search & Seizure
39.1 Departmental Rules for Searches and Seizures 1461
39.2 Seizure of Ornaments - CBDT Circular 1465
39.3 Performa of Search Warrant 1466
39.4 Preliminary Statement of person searched before actual
commencement of search
1469
39.5 Language in which statement can be recorded 1470
39.6 Search party asking for some minute details towards the close
of the search when the person is exhausted
1471
39.7 Unlikeable situation may surface such as incomplete cash book1472
39.8 Requisition of books of account of earlier years 1473
39.9 Incomplete and haphazard data on computer 1474
39.10Purchase of immovable property 1476
39.11Enquiry about jewellery - Whether new? 1477
39.12Purchase of agricultural land by minors, gift received and gift
given
1479
39.13An irrelevant question by the search party 1480
I-169 #/.4%.43
PAGE
39.14Surrender of income to seek immunity from penalty for
concealment in the case of a search
1481
39.15Surrender of income to seek immunity from penalty for
concealment in the case of a search by harmonizing various items
1482
39.16Panchnama - Search & Seizure action u/s 132 1484
39.17$QQH[XUHVWR3DQFKQDPD1DWXUHDQGVLJQL¿FDQFH1488
39.18Annexure for Books of Account etc. 1490
39.19Annexure for Bullion/Jewellery 1491
39.20Annexure for Cash 1492
39.21Annexure for Other Assets 1493
39.22Annexure for Stock 1494
39.236HDUFKDQG6HL]XUH,QVSHFWLRQ3KRWRFRS\DQG&HUWL¿HGFRS\
of statements recorded
1495
39.24Restraint Order u/s 132(3) - Proforma 1497
39.25Life of Restraint Order u/s 132(3) 1499
39.269HU\ROGUHVWUDLQW2UGHUXVIRU16&V3RVW2I¿FHLQVLVWV
for its formal recall for payment of maturity value of NSCs
1501
39.27Omnibus or highly generalised restraint order to bank 1503
39.28Restraint order for bank account of persons not searched, etc.1506
39.29Restraint order issued for disclosed bank accounts 1508
39.305HVWUDLQWRUGHUIRUEDQNDFFRXQWRSHQHGLQFXUUHQW¿QDQFLDO\HDU 1510
39.31Restraint order issued for stock in trade and sealing of
warehouses
1513
39.32Restraint order issued for residential house and its sealing1516
39.33Revoking Restraint order u/s 132(3) 1519
39.34Search and Seizure - Cash Seized - Release for adjustment
WRZDUGV$GYDQFH 7D[ IRU FXUUHQW ¿QDQFLDO \HDU DQG H[LVWLQJ
tax liabilities
1521
39.35Request for release of assets seized for payment of tax 1523
39.36Release of Jewellery against Bank Guarantee 1525
39.37Request for release of seized valuables - All assessments
completed - Due taxes paid
1527
39.38Interest u/s 244A on cash kept deposited in PD Account 1529
39.39Requisition u/s 132A - Proforma of Warrant 1531
39.40Proforma of notice u/s 153A(a) 1533
39.41Objection to notice u/s 153A(a) and request for inspection,
copy etc.
1535
39.42Formal compliance of notice u/s 153A 1538
PAGE
39.14Surrender of income to seek immunity from penalty for
concealment in the case of a search
1481
39.15Surrender of income to seek immunity from penalty for
concealment in the case of a search by harmonizing various items
1482
39.16Panchnama - Search & Seizure action u/s 132 1484
39.17$QQH[XUHVWR3DQFKQDPD1DWXUHDQGVLJQL¿FDQFH1488
39.18Annexure for Books of Account etc. 1490
39.19Annexure for Bullion/Jewellery 1491
39.20Annexure for Cash 1492
39.21Annexure for Other Assets 1493
39.22Annexure for Stock 1494
39.236HDUFKDQG6HL]XUH,QVSHFWLRQ3KRWRFRS\DQG&HUWL¿HGFRS\
of statements recorded
1495
39.24Restraint Order u/s 132(3) - Proforma 1497
39.25Life of Restraint Order u/s 132(3) 1499
39.269HU\ROGUHVWUDLQW2UGHUXVIRU16&V3RVW2I¿FHLQVLVWV
for its formal recall for payment of maturity value of NSCs
1501
39.27Omnibus or highly generalised restraint order to bank 1503
39.28Restraint order for bank account of persons not searched, etc.1506
39.29Restraint order issued for disclosed bank accounts 1508
39.305HVWUDLQWRUGHUIRUEDQNDFFRXQWRSHQHGLQFXUUHQW¿QDQFLDO\HDU 1510
39.31Restraint order issued for stock in trade and sealing of
warehouses
1513
39.32Restraint order issued for residential house and its sealing1516
39.33Revoking Restraint order u/s 132(3) 1519
39.34Search and Seizure - Cash Seized - Release for adjustment
WRZDUGV$GYDQFH 7D[ IRU FXUUHQW ¿QDQFLDO \HDU DQG H[LVWLQJ
tax liabilities
1521
39.35Request for release of assets seized for payment of tax 1523
39.36Release of Jewellery against Bank Guarantee 1525
39.37Request for release of seized valuables - All assessments
completed - Due taxes paid
1527
39.38Interest u/s 244A on cash kept deposited in PD Account 1529
39.39Requisition u/s 132A - Proforma of Warrant 1531
39.40Proforma of notice u/s 153A(a) 1533
39.41Objection to notice u/s 153A(a) and request for inspection,
copy etc.
1535
39.42Formal compliance of notice u/s 153A 1538
#/.4%.43
I-170
PAGE
39.43Assessee not aware of requisition u/s 132A - Notice from
$VVHVVLQJ 2I¿FHU XV $ 5HSUHVHQWDWLRQ EHIRUH $',
,QYHVWLJDWLRQDQG$VVHVVLQJ2I¿FHU
1540
39.44Requisition u/s 132A - Cash seized by police handed over in
supurdagi of Court - Objections before Court
1542
DIVISION FORTY
Tax Deduction at Source
40.1 Proforma of Notice u/s 201(1) 1549
40.2 Proforma of Report of Short Deduction/Collection 1552
40.3 Proforma of Report for Challans mis-match 1554
40.4 Reply to the Notice u/s 201(1) 1555
40.5 Proforma of Order u/s 201(1) 1557
40.6 Shortfall in deduction of TDS due to ERQD¿GH wrong impression,
under wrong provision of TDS, don’t attract disallowance
u/s 40(a)(ia)
1559
40.7 $SSOLFDWLRQIRUJUDQWRIFHUWL¿FDWHIRUGHWHUPLQDWLRQRIDSSURSULDWH
proportion of sum (other than Salary), payable to non-resident,
chargeable to tax in case of the recipients
1562
DIVISION FORTY ONE
Recovery of Tax
41.1 )RUPDO /HWWHU IRU 6WD\ RI 'HPDQG XSRQ ¿OLQJ DSSHDO EHIRUH
CIT (Appeals)
1572
41.2 Stay of concealment penalty when its quantum appeal is decided
in assessee’s favour
1575
41.3 Where appeal decided in assessee’s favour in earlier years -
Stay of Demand
1577
41.4 3HWLWLRQWR&,7WR'LUHFW$VVHVVLQJ2I¿FHUIRU6WD\1580
41.5 Release of Attachment made u/s 226(3) 1582
DIVISION FORTY TWO
Trust, Mutuality, Charity
42.1 Charitable Trust Deed 1583
42.2 Corpus Donation Letter 1593
42.3 Form 10A 1594
42.4 Form 10AB 1605
I-170
PAGE
39.43Assessee not aware of requisition u/s 132A - Notice from
$VVHVVLQJ 2I¿FHU XV $ 5HSUHVHQWDWLRQ EHIRUH $',
,QYHVWLJDWLRQDQG$VVHVVLQJ2I¿FHU
1540
39.44Requisition u/s 132A - Cash seized by police handed over in
supurdagi of Court - Objections before Court
1542
DIVISION FORTY
Tax Deduction at Source
40.1 Proforma of Notice u/s 201(1) 1549
40.2 Proforma of Report of Short Deduction/Collection 1552
40.3 Proforma of Report for Challans mis-match 1554
40.4 Reply to the Notice u/s 201(1) 1555
40.5 Proforma of Order u/s 201(1) 1557
40.6 Shortfall in deduction of TDS due to ERQD¿GH wrong impression,
under wrong provision of TDS, don’t attract disallowance
u/s 40(a)(ia)
1559
40.7 $SSOLFDWLRQIRUJUDQWRIFHUWL¿FDWHIRUGHWHUPLQDWLRQRIDSSURSULDWH
proportion of sum (other than Salary), payable to non-resident,
chargeable to tax in case of the recipients
1562
DIVISION FORTY ONE
Recovery of Tax
41.1 )RUPDO /HWWHU IRU 6WD\ RI 'HPDQG XSRQ ¿OLQJ DSSHDO EHIRUH
CIT (Appeals)
1572
41.2 Stay of concealment penalty when its quantum appeal is decided
in assessee’s favour
1575
41.3 Where appeal decided in assessee’s favour in earlier years -
Stay of Demand
1577
41.4 3HWLWLRQWR&,7WR'LUHFW$VVHVVLQJ2I¿FHUIRU6WD\1580
41.5 Release of Attachment made u/s 226(3) 1582
DIVISION FORTY TWO
Trust, Mutuality, Charity
42.1 Charitable Trust Deed 1583
42.2 Corpus Donation Letter 1593
42.3 Form 10A 1594
42.4 Form 10AB 1605
I-171 #/.4%.43
PAGE
DIVISION FORTY THREE
Firm
43.1 Simple Partnership Deed 1614
43.2 Partnership Deed for a new Firm 1617
43.3 Partnership Deed upon conversion of proprietary business into
a partnership
1624
43.4 Covering letter to Client 1630
43.5 Deed of retiement 1631
43.6 Partnership Deed for recording change in constitution on account
of simultaneous admission and retirement of partners
1635
43.7 Notice by Minor upon attaining majority 1642
43.8 Public Notice of Dissolution 1643
43.9 Dissolution Deed for a Partnership Firm 1644
DIVISION FORTY FOUR
LLP - Limited Liability Partnership
44.1 Simple LLP Agreement 1649
44.2 LLP Agreement for a new LLP 1659
44.3 LLP Agreement on conversion 1671
44.4 Covering letter to client 1681
44.5 Consent letter of partner being an individual 1683
44.6 Consent letter of designated partner being an individual1684
44.7 Consent letter of partner in capacity of a nominee of a body
coporate
1685
44.8 Consent letter of designated partner in capacity of a nominee
of a body corporate
1686
44.9 Resolution by company to become partner and appoint nominee1687
44.105DWL¿FDWLRQRIWKH//3$JUHHPHQW1688
44.11Resolution to ratify the LLP Agreement 1690
44.12Subscriber Sheet 1691
DIVISION FORTY FIVE
Right to Information - RTI
45.1 Form of Application 1692
PAGE
DIVISION FORTY THREE
Firm
43.1 Simple Partnership Deed 1614
43.2 Partnership Deed for a new Firm 1617
43.3 Partnership Deed upon conversion of proprietary business into
a partnership
1624
43.4 Covering letter to Client 1630
43.5 Deed of retiement 1631
43.6 Partnership Deed for recording change in constitution on account
of simultaneous admission and retirement of partners
1635
43.7 Notice by Minor upon attaining majority 1642
43.8 Public Notice of Dissolution 1643
43.9 Dissolution Deed for a Partnership Firm 1644
DIVISION FORTY FOUR
LLP - Limited Liability Partnership
44.1 Simple LLP Agreement 1649
44.2 LLP Agreement for a new LLP 1659
44.3 LLP Agreement on conversion 1671
44.4 Covering letter to client 1681
44.5 Consent letter of partner being an individual 1683
44.6 Consent letter of designated partner being an individual1684
44.7 Consent letter of partner in capacity of a nominee of a body
coporate
1685
44.8 Consent letter of designated partner in capacity of a nominee
of a body corporate
1686
44.9 Resolution by company to become partner and appoint nominee1687
44.105DWL¿FDWLRQRIWKH//3$JUHHPHQW1688
44.11Resolution to ratify the LLP Agreement 1690
44.12Subscriber Sheet 1691
DIVISION FORTY FIVE
Right to Information - RTI
45.1 Form of Application 1692
#/.4%.43
I-172
PAGE
45.2 Intimation for deposit of further fee 1694
45.3 Form of Notice to third party 1695
45.4 7UDQVIHURIDSSOLFDWLRQWRRWKHU6WDWH3XEOLF,QIRUPDWLRQ2I¿FHU1696
45.5 Forwarding of Application - Appeal 1698
45.6 Form of supply of information to the applicant 1700
45.7 Rejection Order 1702
45.8 Appeal under section 19 of the Right to Information Act, 20051703
DIVISION FORTY SIX
Agreement, MOU
46.1 Awarding Contract by Government Corporation 1704
46.2 Selling Agency Agreement 1713
46.3 Agreement between a company and its director to be appointed
as an employee to create employer-employee relationship
1717
46.4 Showroom space in Multiplex 1720
46.5 $JUHHPHQWEHWZHHQDFRPSDQ\DQG1RQ3UR¿W2UJDQLVDWLRQ
WRVXSSRUWWKHSURJUDPLQLWLDWHGE\WKH1RQ3UR¿W2UJDQLVDWLRQ
through grant
1723
DIVISION FORTY SEVEN
AOP - Association of Persons
47.1 Formulation of Association of Persons (AOP) 1726
DIVISION FORTY EIGHT
HUF - Hindu Undivided Family
48.1 Memorandum of total partition 1732
48.2 Petition u/s 171 1736
48.3 'UDIWQRWLFHXVE\$VVHVVLQJ2I¿FHUFRQGXFWLQJHQTXLU\
of claim of partition of the HUF
1738
48.4 Compliance to Notice u/s 171(2) by members of HUF 1740
48.5 Order u/s 171 1742
48.6 Memorandum of Reunion 1743
I-172
PAGE
45.2 Intimation for deposit of further fee 1694
45.3 Form of Notice to third party 1695
45.4 7UDQVIHURIDSSOLFDWLRQWRRWKHU6WDWH3XEOLF,QIRUPDWLRQ2I¿FHU1696
45.5 Forwarding of Application - Appeal 1698
45.6 Form of supply of information to the applicant 1700
45.7 Rejection Order 1702
45.8 Appeal under section 19 of the Right to Information Act, 20051703
DIVISION FORTY SIX
Agreement, MOU
46.1 Awarding Contract by Government Corporation 1704
46.2 Selling Agency Agreement 1713
46.3 Agreement between a company and its director to be appointed
as an employee to create employer-employee relationship
1717
46.4 Showroom space in Multiplex 1720
46.5 $JUHHPHQWEHWZHHQDFRPSDQ\DQG1RQ3UR¿W2UJDQLVDWLRQ
WRVXSSRUWWKHSURJUDPLQLWLDWHGE\WKH1RQ3UR¿W2UJDQLVDWLRQ
through grant
1723
DIVISION FORTY SEVEN
AOP - Association of Persons
47.1 Formulation of Association of Persons (AOP) 1726
DIVISION FORTY EIGHT
HUF - Hindu Undivided Family
48.1 Memorandum of total partition 1732
48.2 Petition u/s 171 1736
48.3 'UDIWQRWLFHXVE\$VVHVVLQJ2I¿FHUFRQGXFWLQJHQTXLU\
of claim of partition of the HUF
1738
48.4 Compliance to Notice u/s 171(2) by members of HUF 1740
48.5 Order u/s 171 1742
48.6 Memorandum of Reunion 1743
I-173 #/.4%.43
PAGE
DIVISION FORTY NINE
GIFT
49.1 *LIW&RQ¿UPDWLRQ 1745
49.2 Memorandum for gift of Security 1747
49.3 $I¿GDYLWIRUJLIWE\&KHTXHWRPLQRU1749
49.4 $I¿GDYLWIRUJLIWWR+8) 1751
49.5 $I¿GDYLWIRUJLIWRI2UQDPHQWV1753
49.6 Gift Deed for Gift to sister by Cheque 1755
49.7 Receipt of gift from HUF of Mama (Maternal Uncle) 1757
49.8 Section 68 additions not tenable on grounds that relatives gave
gift without any occasion
1759
DIVISION FIFTY
Wills
50.1 Simple Will giving entire Estate to wife 1761
50.2 Legacy in favour of various family members 1763
50.3 Joint Will of husband and wife 1765
DIVISION FIFTY ONE
Family Arrangements
51.1 Memorandum of Family Arrangement between two Separate
Families
1767
51.2 Partnership - Family Arrangement for immovable property 1772
DIVISION FIFTY TWO
Power of Attorney
52.1 General Power of Attorney by a lady proprietress 1776
52.2 Power of Attorney by Karta of HUF 1779
52.3 Special Power of Attorney 1782
52.4 General Power of Attorney by a Firm to its employee 1784
52.5 Special Power of Attorney to execute a Sale Deed 1787
PAGE
DIVISION FORTY NINE
GIFT
49.1 *LIW&RQ¿UPDWLRQ 1745
49.2 Memorandum for gift of Security 1747
49.3 $I¿GDYLWIRUJLIWE\&KHTXHWRPLQRU1749
49.4 $I¿GDYLWIRUJLIWWR+8) 1751
49.5 $I¿GDYLWIRUJLIWRI2UQDPHQWV1753
49.6 Gift Deed for Gift to sister by Cheque 1755
49.7 Receipt of gift from HUF of Mama (Maternal Uncle) 1757
49.8 Section 68 additions not tenable on grounds that relatives gave
gift without any occasion
1759
DIVISION FIFTY
Wills
50.1 Simple Will giving entire Estate to wife 1761
50.2 Legacy in favour of various family members 1763
50.3 Joint Will of husband and wife 1765
DIVISION FIFTY ONE
Family Arrangements
51.1 Memorandum of Family Arrangement between two Separate
Families
1767
51.2 Partnership - Family Arrangement for immovable property 1772
DIVISION FIFTY TWO
Power of Attorney
52.1 General Power of Attorney by a lady proprietress 1776
52.2 Power of Attorney by Karta of HUF 1779
52.3 Special Power of Attorney 1782
52.4 General Power of Attorney by a Firm to its employee 1784
52.5 Special Power of Attorney to execute a Sale Deed 1787
#/.4%.43
I-174
PAGE
DIVISION FIFTY THREE
Indemnity and Guarantee
53.1 Indemnity Bond for Refunds due (Apart from Interest) 1789
53.2 Indemnity by a Partner Retaining Assets and Liabilities to
$QRWKHU3DUWQHURQWKH'LVVROXWLRQRIWKH¿UP
1791
53.3 Indemnity to Bank 1793
DIVISION FIFTY FOUR
Lease, Rent, Leave and License
54.1 Letting out premises with processing equipments 1795
54.2 Leave and License Agreement 1798
DIVISION FIFTY FIVE
Sale/Transfer of Properties
55.1 Draft letter for Sale of Vehicle 1802
55.2 Assignment of certain business assets 1803
55.3 Assignment of partnership business to a Private Limited
Company as a going concern
1805
55.4 Agreement to Sell-Land/House 1807
55.5 Special Power of Attorney to present a sale deed before Sub-
Registrar
1810
55.6 Sale Deed - Flat 1812
55.7 Developer Agreement 1815
55.8 LLP - Contribution of immovable property 1819
55.9 Family Arrangement for immovable property contributed by
Partners to the Partnership Firm
1820
DIVISION FIFTY SIX
Tax Audit
56.1 Audit engagement letter for pre-deciding the terms and scope
before entering into an audit engagement with an entity
1821
56.2 Simple management represent letter for tax audit by a company1825
56.3 'UDIWXQPRGL¿HG,QGHSHQGHQW$XGLWRUV¶5HSRUWDVSHU6$1827
56.4 Detailed Tax Audit Checklist 1832
I-174
PAGE
DIVISION FIFTY THREE
Indemnity and Guarantee
53.1 Indemnity Bond for Refunds due (Apart from Interest) 1789
53.2 Indemnity by a Partner Retaining Assets and Liabilities to
$QRWKHU3DUWQHURQWKH'LVVROXWLRQRIWKH¿UP
1791
53.3 Indemnity to Bank 1793
DIVISION FIFTY FOUR
Lease, Rent, Leave and License
54.1 Letting out premises with processing equipments 1795
54.2 Leave and License Agreement 1798
DIVISION FIFTY FIVE
Sale/Transfer of Properties
55.1 Draft letter for Sale of Vehicle 1802
55.2 Assignment of certain business assets 1803
55.3 Assignment of partnership business to a Private Limited
Company as a going concern
1805
55.4 Agreement to Sell-Land/House 1807
55.5 Special Power of Attorney to present a sale deed before Sub-
Registrar
1810
55.6 Sale Deed - Flat 1812
55.7 Developer Agreement 1815
55.8 LLP - Contribution of immovable property 1819
55.9 Family Arrangement for immovable property contributed by
Partners to the Partnership Firm
1820
DIVISION FIFTY SIX
Tax Audit
56.1 Audit engagement letter for pre-deciding the terms and scope
before entering into an audit engagement with an entity
1821
56.2 Simple management represent letter for tax audit by a company1825
56.3 'UDIWXQPRGL¿HG,QGHSHQGHQW$XGLWRUV¶5HSRUWDVSHU6$1827
56.4 Detailed Tax Audit Checklist 1832
I-175 #/.4%.43
PAGE
56.5 6DPSOHSRVLWLYHFRQ¿UPDWLRQUHTXHVW1866
56.6 6DPSOHQHJDWLYHFRQ¿UPDWLRQUHTXHVW1867
DIVISION FIFTY SEVEN
Income Computation and Disclosure Standards
57.1 Delhi High Court decision on the constitutional validity of ICDS1868
57.2 Steps for subsequent measurement of securities held as stock
in trade
1874
57.3 $OORFDWLRQRI6SHFL¿F%RUURZLQJ&RVWV1876
DIVISION FIFTY EIGHT
Real Estate (Regulation and Development) Act, 2016
(RERA)
58.1 &HUWL¿FDWHIURPD&KDUWHUHG$FFRXQWDQWUHTXLUHGWRZLWKGUDZ
money from designated bank account
1879
58.2 Annual Report on Statement of Accounts is to be issued by
Chartered Accountant
1884
58.3 Appeal to Appellate Tribunal 1886
58.4 Complaint to regulatory authority 1889
58.5 $SSOLFDWLRQWRWKH$GMXGLFDWLQJ2I¿FHUIRU&RPSHQVDWLRQ1891
58.6 Annual Statement of Accounts 1893
DIVISION FIFTY NINE
E-Proceedings under Income Tax Act, 1961
59.1 Reply of notice u/s 143(1)(a)(iv) through e-proceedings 1900
59.2 Response to outstanding demand through e-proceeding 1904
59.3 Response to Notice issued u/s 139(9) by CPC, Bangalore
through e-proceedings
1907
59.4 Response to notice issued for limited scrutiny u/s 143(2) through
e-proceedings
1909
59.5 Filing an Appeal to CIT(Appeals) in response of an order u/s
WKURXJK,QFRPH7D[(¿OLQJSRUWDOXQGHUWKHQHZ)DFHOHVV
Appeal Scheme, 2020
1912
59.6 )LOLQJ D 5HFWL¿FDWLRQ DSSOLFDWLRQ XQGHU VHFWLRQ WR WKH
prescribed Income Tax authority
1916
PAGE
56.5 6DPSOHSRVLWLYHFRQ¿UPDWLRQUHTXHVW1866
56.6 6DPSOHQHJDWLYHFRQ¿UPDWLRQUHTXHVW1867
DIVISION FIFTY SEVEN
Income Computation and Disclosure Standards
57.1 Delhi High Court decision on the constitutional validity of ICDS1868
57.2 Steps for subsequent measurement of securities held as stock
in trade
1874
57.3 $OORFDWLRQRI6SHFL¿F%RUURZLQJ&RVWV1876
DIVISION FIFTY EIGHT
Real Estate (Regulation and Development) Act, 2016
(RERA)
58.1 &HUWL¿FDWHIURPD&KDUWHUHG$FFRXQWDQWUHTXLUHGWRZLWKGUDZ
money from designated bank account
1879
58.2 Annual Report on Statement of Accounts is to be issued by
Chartered Accountant
1884
58.3 Appeal to Appellate Tribunal 1886
58.4 Complaint to regulatory authority 1889
58.5 $SSOLFDWLRQWRWKH$GMXGLFDWLQJ2I¿FHUIRU&RPSHQVDWLRQ1891
58.6 Annual Statement of Accounts 1893
DIVISION FIFTY NINE
E-Proceedings under Income Tax Act, 1961
59.1 Reply of notice u/s 143(1)(a)(iv) through e-proceedings 1900
59.2 Response to outstanding demand through e-proceeding 1904
59.3 Response to Notice issued u/s 139(9) by CPC, Bangalore
through e-proceedings
1907
59.4 Response to notice issued for limited scrutiny u/s 143(2) through
e-proceedings
1909
59.5 Filing an Appeal to CIT(Appeals) in response of an order u/s
WKURXJK,QFRPH7D[(¿OLQJSRUWDOXQGHUWKHQHZ)DFHOHVV
Appeal Scheme, 2020
1912
59.6 )LOLQJ D 5HFWL¿FDWLRQ DSSOLFDWLRQ XQGHU VHFWLRQ WR WKH
prescribed Income Tax authority
1916
#/.4%.43
I-176
PAGE
59.7 Response to notice and requisition issued u/s 143(2)/142(1)
through e-proceedings
1921
DIVISION SIXTY
Prohibition of Benami Property Transactions Act, 1988
60.1 Benami Transactions (Prohibition) Amendments Act, 2016
cannot be applied retrospectively
1931
60.2 What are the principles governing determination of question
whether transfer is a Benami transaction or not ?
1951
60.3 Burden of proof is on the person who alleges it to be a Benami
transaction
1955
,QYHVWLJDWLQJRI¿FHUPXVWIRUPDUHDVRQWREHOLHYHEDVHGRQ
application of mind before passing an order
1955
I-176
PAGE
59.7 Response to notice and requisition issued u/s 143(2)/142(1)
through e-proceedings
1921
DIVISION SIXTY
Prohibition of Benami Property Transactions Act, 1988
60.1 Benami Transactions (Prohibition) Amendments Act, 2016
cannot be applied retrospectively
1931
60.2 What are the principles governing determination of question
whether transfer is a Benami transaction or not ?
1951
60.3 Burden of proof is on the person who alleges it to be a Benami
transaction
1955
,QYHVWLJDWLQJRI¿FHUPXVWIRUPDUHDVRQWREHOLHYHEDVHGRQ
application of mind before passing an order
1955
SAMPLE CHAPTER
3.1.21 Intangible Additions
3.1.22 Unexplained Investment, Expenditure
3.1.23 Peak, Roll Over Effect
3.1.24 Dumb Document
3.1.25 Surrender, Confession and Retractions
3.1.26 Meaning of Assessment
3.1.27 Powers of Assessing Officer
3.1.28 Assessing Officer’s Duty
3.1.29 Arbitrariness
3.1.30 Independence of Assessing Officer
3.1.31 Notices u/s 142
3.1.32 Special Audit u/s 142(2A)
3.1.33 Estimate by Valuation Officer u/s 142A
3.1.34 Common Areas of Enquiry
3.1.35 Protective Assessment
3.1.36 Directions by Joint CIT u/s 144A
3.1.37 Concept of ‘Reason to believe’ Eliminated
3.1.38 Reasons to be Recorded and Objections
3.1.39 Limitation for Assessment & Reassessment
3.1.40 Remedies upon unacceptable Assessment Order
3.1.41 Tips & Traps
3.1.1 JURISDICTION
a
4HE
TERM
@jurisdiction
REFERS
TO
THE
STATUTORY
AUTHORITY
OF
AN
OFFICER
TO
DECIDE
A
PARTICULAR
MATTER
OR
TO
TAKE
ACTION
UNDER
THAT
STATUTE
*URISDICTION
CANNOT
BE
WAIVED
OR
CONFERRED
BY
THE
CONSENT
OF
THE
PARTIES
4HE
GENERAL
RULE
IS
THAT
VIRES
OF
JURISDICTION
CAN
BE
CHALLENGED
AT
ANY
STAGE
b
4HERE
IS
A
DISTINCTION
BETWEEN
@jurisdiction
AND
@venue
@*URISDICTION
IS
THE
STATUTORY
POWER
WHEREAS
VENUE
IS
THE
PLACE
OF
ASSESSMENT
IN
TERMS
OF
TERRITORIAL
AREA
ETC
c
@Venue
PART
OF
JURISDICTION
OF
AN
!SSESSING
/FFICER
IS
GOVERNED
BY
THE
FOLLOWING
FACTORS
i
4ERRITORIAL
JURISDICTION
OVER
THE
PLACE
OF
BUSINESS
OR
RESIDENCE
ii
!SSIGNED
JURISDICTION
US
Para 3.1.1 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 122
3.1.21 Intangible Additions
3.1.22 Unexplained Investment, Expenditure
3.1.23 Peak, Roll Over Effect
3.1.24 Dumb Document
3.1.25 Surrender, Confession and Retractions
3.1.26 Meaning of Assessment
3.1.27 Powers of Assessing Officer
3.1.28 Assessing Officer’s Duty
3.1.29 Arbitrariness
3.1.30 Independence of Assessing Officer
3.1.31 Notices u/s 142
3.1.32 Special Audit u/s 142(2A)
3.1.33 Estimate by Valuation Officer u/s 142A
3.1.34 Common Areas of Enquiry
3.1.35 Protective Assessment
3.1.36 Directions by Joint CIT u/s 144A
3.1.37 Concept of ‘Reason to believe’ Eliminated
3.1.38 Reasons to be Recorded and Objections
3.1.39 Limitation for Assessment & Reassessment
3.1.40 Remedies upon unacceptable Assessment Order
3.1.41 Tips & Traps
3.1.1 JURISDICTION
a
4HE
TERM
@jurisdiction
REFERS
TO
THE
STATUTORY
AUTHORITY
OF
AN
OFFICER
TO
DECIDE
A
PARTICULAR
MATTER
OR
TO
TAKE
ACTION
UNDER
THAT
STATUTE
*URISDICTION
CANNOT
BE
WAIVED
OR
CONFERRED
BY
THE
CONSENT
OF
THE
PARTIES
4HE
GENERAL
RULE
IS
THAT
VIRES
OF
JURISDICTION
CAN
BE
CHALLENGED
AT
ANY
STAGE
b
4HERE
IS
A
DISTINCTION
BETWEEN
@jurisdiction
AND
@venue
@*URISDICTION
IS
THE
STATUTORY
POWER
WHEREAS
VENUE
IS
THE
PLACE
OF
ASSESSMENT
IN
TERMS
OF
TERRITORIAL
AREA
ETC
c
@Venue
PART
OF
JURISDICTION
OF
AN
!SSESSING
/FFICER
IS
GOVERNED
BY
THE
FOLLOWING
FACTORS
i
4ERRITORIAL
JURISDICTION
OVER
THE
PLACE
OF
BUSINESS
OR
RESIDENCE
ii
!SSIGNED
JURISDICTION
US
Para 3.1.1 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 122
iii
#LASS
OF
PERSON
EG
SALARIED
PEOPLE
CONTRACTORS
CINE
STARS
PARTNERS
OF
FIRM
iv
3CALE
OF
RETURNED
INCOME
OR
LOSS
v
%VEN
SUCH
JURISDICTION
KEEPS
ON
CHANGING
)T
MAY
BE
DIFFERENT
WHEN
THE
RETURN
OF
INCOME
WAS
FILED
FROM
THE
JURISDICTION
AT
THE
TIME
WHEN
ASSESSMENT
PROCEEDINGS
ARE
INITIATED
AND
AGAIN
WHEN
THE
ASSESSMENT
ORDER
IS
FINALLY
TO
BE
PASSED
vi
4AX
2ECOVERY
/FFICER
MAY
BE
AUTHORISED
TO
ACT
AS
AN
!SSESSING
/FFICER
AS
ENVISAGED
BY
THE
4AXATION
,AWS
!MENDMENT
!CT
d
3EC
DEALING
WITH
@JURISDICTION
OF
!SSESSING
/FFICER
DEALS
ONLY
WITH
@venue
AND
NOT
WITH
JURISDICTION
MEANING
STATUTORY
AUTHORITY
e
!N
ASSESSEE
HAS
TO
CHALLENGE
JURISDICTION
OF
!SSESSING
/FFICER
WITHIN
THE
TIME
LIMIT
PRESCRIBED
US
BY
RAISING
OBJECTIONS
WHICH
HAS
TO
BE
DETERMINED
BY
THE
$'
#HIEF
#)4
OR
#)4
f
3EC
PROVIDES
FOR
CONCURRENT
JURISDICTION
4HE
GENERAL
RULE
IS
THAT
A
PERSON
WOULD
BE
ASSESSED
BY
THE
!SSESSING
/FFICER
OF
THE
AREA
IN
WHICH
THE
PERSON
CARRIES
ON
BUSINESS
OR
RESIDES
7HERE
THE
ASSESSEE
HAS
GOT
BRANCHES
APART
FROM
(EAD
/FFICE
IT
WOULD
BE
OPEN
TO
THE
RESPECTIVE
!SSESSING
/FFICERS
HAVING
JURISDICTION
OVER
THE
BRANCH
OFFICE
TO
ASSESS
(OWEVER
THERE
IS
AN
OVERRIDING
PRINCIPLE
THAT
TWO
ASSESSMENTS
CANNOT
BE
MADE
AT
DIFFERENT
PLACES
UPON
THE
SAME
PERSON
g
3EC
AUTHORIZES
0RINCIPAL
$IRECTOR
'ENERAL
$IRECTOR
'ENERAL
0RINCIPAL
#HIEF
#OMMISSIONER
#HIEF
#OMMISSIONER
0RINCIPAL
#OMMISSIONER
AND
#OMMISSIONER
TO
TRANSFER
ANY
CASE
FROM
ONE
OR
MORE
!SSESSING
/FFICERS
SUBORDINATE
TO
HIM
TO
ANY
OTHER
!SSESSING
/FFICER
AT
ANY
STAGE
OF
THE
PROCEEDINGS
h
#"$4
BY
&INANCE
!CT
HAS
BROUGHT
A
0!.
)NDIA
%!SSESSMENT
)NTERFACE
TO
CURB
THE
UNDESIRABLE
PRACTICES
ON
THE
PART
OF
TAX
OFFICIALS
AND
TO
BRING
MORE
TRANSPARENCY
IN
THE
ASSESSMENT
SYSTEM
THROUGH
FACELESS
ASSESSMENT
SCHEME
4HEREFORE
QUESTION
OF
JURISDICTION
IN
ASSESSMENT
USS
AND
HAS
NO
SIGNIFICANCE
i
.OW
THE
PROVISIONS
OF
CLAUSE
7A
OF
SECTION
SECTION
#!
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
!
SECTION
#
SECTION
SECTION
SECTION
!
SECTION
SECTION
!
SECTION
"!
SECTION
#
AND
#HAPTER
88)
OF
THE
!CT
SHALL
APPLY
TO
THE
ASSESSMENT
MADE
IN
ACCORDANCE
WITH
123 $)6
!33%33-%.4 Para 3.1.1
#LASS
OF
PERSON
EG
SALARIED
PEOPLE
CONTRACTORS
CINE
STARS
PARTNERS
OF
FIRM
iv
3CALE
OF
RETURNED
INCOME
OR
LOSS
v
%VEN
SUCH
JURISDICTION
KEEPS
ON
CHANGING
)T
MAY
BE
DIFFERENT
WHEN
THE
RETURN
OF
INCOME
WAS
FILED
FROM
THE
JURISDICTION
AT
THE
TIME
WHEN
ASSESSMENT
PROCEEDINGS
ARE
INITIATED
AND
AGAIN
WHEN
THE
ASSESSMENT
ORDER
IS
FINALLY
TO
BE
PASSED
vi
4AX
2ECOVERY
/FFICER
MAY
BE
AUTHORISED
TO
ACT
AS
AN
!SSESSING
/FFICER
AS
ENVISAGED
BY
THE
4AXATION
,AWS
!MENDMENT
!CT
d
3EC
DEALING
WITH
@JURISDICTION
OF
!SSESSING
/FFICER
DEALS
ONLY
WITH
@venue
AND
NOT
WITH
JURISDICTION
MEANING
STATUTORY
AUTHORITY
e
!N
ASSESSEE
HAS
TO
CHALLENGE
JURISDICTION
OF
!SSESSING
/FFICER
WITHIN
THE
TIME
LIMIT
PRESCRIBED
US
BY
RAISING
OBJECTIONS
WHICH
HAS
TO
BE
DETERMINED
BY
THE
$'
#HIEF
#)4
OR
#)4
f
3EC
PROVIDES
FOR
CONCURRENT
JURISDICTION
4HE
GENERAL
RULE
IS
THAT
A
PERSON
WOULD
BE
ASSESSED
BY
THE
!SSESSING
/FFICER
OF
THE
AREA
IN
WHICH
THE
PERSON
CARRIES
ON
BUSINESS
OR
RESIDES
7HERE
THE
ASSESSEE
HAS
GOT
BRANCHES
APART
FROM
(EAD
/FFICE
IT
WOULD
BE
OPEN
TO
THE
RESPECTIVE
!SSESSING
/FFICERS
HAVING
JURISDICTION
OVER
THE
BRANCH
OFFICE
TO
ASSESS
(OWEVER
THERE
IS
AN
OVERRIDING
PRINCIPLE
THAT
TWO
ASSESSMENTS
CANNOT
BE
MADE
AT
DIFFERENT
PLACES
UPON
THE
SAME
PERSON
g
3EC
AUTHORIZES
0RINCIPAL
$IRECTOR
'ENERAL
$IRECTOR
'ENERAL
0RINCIPAL
#HIEF
#OMMISSIONER
#HIEF
#OMMISSIONER
0RINCIPAL
#OMMISSIONER
AND
#OMMISSIONER
TO
TRANSFER
ANY
CASE
FROM
ONE
OR
MORE
!SSESSING
/FFICERS
SUBORDINATE
TO
HIM
TO
ANY
OTHER
!SSESSING
/FFICER
AT
ANY
STAGE
OF
THE
PROCEEDINGS
h
#"$4
BY
&INANCE
!CT
HAS
BROUGHT
A
0!.
)NDIA
%!SSESSMENT
)NTERFACE
TO
CURB
THE
UNDESIRABLE
PRACTICES
ON
THE
PART
OF
TAX
OFFICIALS
AND
TO
BRING
MORE
TRANSPARENCY
IN
THE
ASSESSMENT
SYSTEM
THROUGH
FACELESS
ASSESSMENT
SCHEME
4HEREFORE
QUESTION
OF
JURISDICTION
IN
ASSESSMENT
USS
AND
HAS
NO
SIGNIFICANCE
i
.OW
THE
PROVISIONS
OF
CLAUSE
7A
OF
SECTION
SECTION
#!
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
SECTION
!
SECTION
#
SECTION
SECTION
SECTION
!
SECTION
SECTION
!
SECTION
"!
SECTION
#
AND
#HAPTER
88)
OF
THE
!CT
SHALL
APPLY
TO
THE
ASSESSMENT
MADE
IN
ACCORDANCE
WITH
123 $)6
!33%33-%.4 Para 3.1.1
THE
%!SSESSMENT
3CHEME
SUBJECT
TO
CERTAIN
EXCEPTIONS
MODIFICATIONS
AND
ADAPTATIONS
CBDT Notification No.62/2019 dt.12.9.2019
j Jurisdiction for Faceless Assessment
4AXATION
AND
/THER
,AWS
2ELAXATION
AND
!MENDMENT
OF
#ERTAIN
0ROVISIONS
!CT
BROUGHT
SECTION
"
IN
THE
)NCOME
4AX
!CT
FOR
MAKING
&ACELESS
!SSESSMENT
WEF
3UBSECTION
OF
THE
SECTION
"
STATE
THAT
FOR
MAKING
FACELESS
ASSESSMENT
THE
#"$4
SHALL
SETUP
.ATIONAL
&ACELESS
!SSESSMENT
#ENTRE
2EGIONAL
&ACELESS
!SSESSMENT
#ENTRES
ASSESSMENT
UNITS
VERIFICATION
UNITS
TECHNICAL
UNITS
REVIEW
UNITS
AND
SPECIFY
THEIR
RESPECTIVE
JURISDICTION
4HE
&INANCE
!CT
EXPANDED
THE
SCOPE
OF
FACELESS
ASSESSMENT
TO
COVER
THE
BEST
JUDGEMENT
ASSESSMENT
US
k Decisions
‹
3EC
PROVIDES
THAT
WHENEVER
DURING
THE
PENDENCY
OF
ANY
PROCEEDINGS
AN
)NCOME
4AX
AUTHORITY
IS
SUCCEEDED
BY
ANOTHER
THE
SUCCESSOR
MAY
CONTINUE
THE
PROCEEDINGS
FROM
THE
STAGE
AT
WHICH
HIS
PREDECESSOR
LEFT
THE
PROCEEDINGS
)N
SUCH
A
CASE
THE
ASSESSEE
HAS
A
RIGHT
TO
DEMAND
THAT
i
THE
PREVIOUS
PROCEEDINGS
OR
PART
THEREOF
SHOULD
BE
RE-
OPENED
AND
ii
THUS
THE
ASSESSEE
SHOULD
BE
REHEARD
BEFORE
PASSING
OF
THE
ORDER
)T
IS
NECESSARY
THAT
THE
SUCCESSOR
INTIMATES
BEFORE
PASSING
OF
THE
ORDER
TO
THE
ASSESSEE
OF
HIS
INTENTION
TO
CONTINUE
THE
PROCEEDINGS
FROM
THE
STAGE
AT
WHICH
HIS
PREDECESSOR
HAD
LEFT
CIT
V
Shankar D. Dhanwatey
4AXMAN
)42
"OM
‹
*URISDICTION
IS
NOT
A
MATTER
OF
CONSENT
Smt. Sarita Jain
V
CIT
)42
4AXMAN
$ELHI
‹
4RANSFER
OF
A
CASE
FROM
ONE
!SSESSING
/FFICER
TO
ANOTHER
WITHOUT
FOLLOWING
PROCEDURE
LAID
DOWN
US
Mrs. Mukutla Lalita V CIT
226
)42
4AXMAN
!0
‹
!BSENCE
OF
NECESSARY
SATISFACTION
DURING
ASSESSMENT
PROCEED-
INGS
SO
AS
TO
JUSTIFY
VALID
INITIATION
OF
PENALTY
PROCEEDINGS
Para 3.1.1 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 124
%!SSESSMENT
3CHEME
SUBJECT
TO
CERTAIN
EXCEPTIONS
MODIFICATIONS
AND
ADAPTATIONS
CBDT Notification No.62/2019 dt.12.9.2019
j Jurisdiction for Faceless Assessment
4AXATION
AND
/THER
,AWS
2ELAXATION
AND
!MENDMENT
OF
#ERTAIN
0ROVISIONS
!CT
BROUGHT
SECTION
"
IN
THE
)NCOME
4AX
!CT
FOR
MAKING
&ACELESS
!SSESSMENT
WEF
3UBSECTION
OF
THE
SECTION
"
STATE
THAT
FOR
MAKING
FACELESS
ASSESSMENT
THE
#"$4
SHALL
SETUP
.ATIONAL
&ACELESS
!SSESSMENT
#ENTRE
2EGIONAL
&ACELESS
!SSESSMENT
#ENTRES
ASSESSMENT
UNITS
VERIFICATION
UNITS
TECHNICAL
UNITS
REVIEW
UNITS
AND
SPECIFY
THEIR
RESPECTIVE
JURISDICTION
4HE
&INANCE
!CT
EXPANDED
THE
SCOPE
OF
FACELESS
ASSESSMENT
TO
COVER
THE
BEST
JUDGEMENT
ASSESSMENT
US
k Decisions
‹
3EC
PROVIDES
THAT
WHENEVER
DURING
THE
PENDENCY
OF
ANY
PROCEEDINGS
AN
)NCOME
4AX
AUTHORITY
IS
SUCCEEDED
BY
ANOTHER
THE
SUCCESSOR
MAY
CONTINUE
THE
PROCEEDINGS
FROM
THE
STAGE
AT
WHICH
HIS
PREDECESSOR
LEFT
THE
PROCEEDINGS
)N
SUCH
A
CASE
THE
ASSESSEE
HAS
A
RIGHT
TO
DEMAND
THAT
i
THE
PREVIOUS
PROCEEDINGS
OR
PART
THEREOF
SHOULD
BE
RE-
OPENED
AND
ii
THUS
THE
ASSESSEE
SHOULD
BE
REHEARD
BEFORE
PASSING
OF
THE
ORDER
)T
IS
NECESSARY
THAT
THE
SUCCESSOR
INTIMATES
BEFORE
PASSING
OF
THE
ORDER
TO
THE
ASSESSEE
OF
HIS
INTENTION
TO
CONTINUE
THE
PROCEEDINGS
FROM
THE
STAGE
AT
WHICH
HIS
PREDECESSOR
HAD
LEFT
CIT
V
Shankar D. Dhanwatey
4AXMAN
)42
"OM
‹
*URISDICTION
IS
NOT
A
MATTER
OF
CONSENT
Smt. Sarita Jain
V
CIT
)42
4AXMAN
$ELHI
‹
4RANSFER
OF
A
CASE
FROM
ONE
!SSESSING
/FFICER
TO
ANOTHER
WITHOUT
FOLLOWING
PROCEDURE
LAID
DOWN
US
Mrs. Mukutla Lalita V CIT
226
)42
4AXMAN
!0
‹
!BSENCE
OF
NECESSARY
SATISFACTION
DURING
ASSESSMENT
PROCEED-
INGS
SO
AS
TO
JUSTIFY
VALID
INITIATION
OF
PENALTY
PROCEEDINGS
Para 3.1.1 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 124
D.M. Manasvi V CIT
)42
3#
CIT V Super Metal Re-Rollers P. Ltd.
4AXMAN
)42
$ELHI
3.1.2 PRINCIPLES OF NATURAL JUSTICE
a
)T
IS
ALSO
KNOWN
AS
@HEARING
OPPORTUNITY
AND
IS
BASED
UPON
THE
RULE
OF
haudi alteram partemv
4HIS
PRINCIPLE
IS
KNOWN
SINCE
TIME
IMME-
MORIAL
)T
IS
A
FUNDAMENTAL
RULE
OF
LAW
THAT
NO
DECISION
MUST
BE
TAKEN
WHICH
WILL
AFFECT
THE
RIGHTS
OF
ANY
PERSON
WITHOUT
FIRST
GIVING
HIM
AN
OPPORTUNITY
OF
PUTTING
FORWARD
HIS
CASE
b
4HE
PRINCIPLES
OF
NATURAL
JUSTICE
ARE
ENSHRINED
IN
!RTICLES
OF
THE
#ONSTITUTION
OF
)NDIA
!DHERENCE
TO
THE
0RINCIPLES
OF
.ATURAL
*USTICE
IS
THE
VERY
SOUL
OF
THE
ADMINISTRATION
OF
*USTICE
c
4HE
PRINCIPLES
OF
NATURAL
JUSTICE
ARE
FUNDAMENTAL
IN
NATURE
VERY
BASIC
AND
IT
IS
NOT
TO
BE
CONSTRUED
OR
MISTAKEN
AS
A
MERE
FORMALITY
d
Decisions
‹
1UESTION
ARISES
AS
TO
WHAT
WILL
BE
THE
CONSEQUENCES
OF
VIOLATION
OF
PRINCIPLES
OF
NATURAL
JUSTICE
IE
WHEN
AN
ASSESSEE
IS
DENIED
OPPORTUNITY
OF
BEING
HEARD
&OR
EXAMPLE
WHEN
CONFESSION
BY
A
THIRD
PARTY
IS
RELIED
UPON
BY
THE
!SSESSING
/FFICER
TO
DRAW
ADVERSE
INFERENCE
AGAINST
AN
ASSESSEE
WITH
REFERENCE
TO
ANY
MONEY
RECEIVED
FROM
SUCH
THIRD
PARTY
US
AND
THAT
TOO
WITHOUT
GIVING
COPIES
AND
SUCH
CONFESSIONAL
STATEMENT
OF
THE
ASSESSEE
AND
WITHOUT
GIVING
OPPORTUNITY
TO
SEEK
CROSS
EXAMINA-
TION
OF
THE
THIRD
PARTY
SUCH
ADDITION
CANNOT
BE
SUSTAINED
4HIS
IS
BECAUSE
THE
MATERIAL
USED
BY
THE
!SSESSING
/FFICER
WAS
NOT
IN
THE
NATURE
OF
ADMISSIBLE
EVIDENCE
)N
SUCH
CIRCUMSTANCES
IT
HAS
BEEN
HELD
THAT
THE
ORDER
BEING
A
VIOLATION
OF
PRINCIPLE
OF
NATURAL
JUSTICE
IS
void
AND
null
R.B. Shreeram Durga Prasad & Fatehchand Nursing
Das V Settlement Commission
4AXMAN
)42
3#
Prakash Chand Nahta V CIT
4AXMAN
)42
-0
‹
)F
PRINCIPLES
OF
NATURAL
JUSTICE
ARE
VIOLATED
AT
THE
STAGE
OF
ASSUMPTION
OF
JURISDICTION
IT
WOULD
NULLIFY
THE
ENTIRE
ACTION
OF
SUBSEQUENT
ORDERS
EG
BLOCK
ASSESSMENT
ORDER
PASSED
IN
PURSUANCE
OF
AN
INVALID
SEARCH
125 $)6
!33%33-%.4 Para 3.1.2
)42
3#
CIT V Super Metal Re-Rollers P. Ltd.
4AXMAN
)42
$ELHI
3.1.2 PRINCIPLES OF NATURAL JUSTICE
a
)T
IS
ALSO
KNOWN
AS
@HEARING
OPPORTUNITY
AND
IS
BASED
UPON
THE
RULE
OF
haudi alteram partemv
4HIS
PRINCIPLE
IS
KNOWN
SINCE
TIME
IMME-
MORIAL
)T
IS
A
FUNDAMENTAL
RULE
OF
LAW
THAT
NO
DECISION
MUST
BE
TAKEN
WHICH
WILL
AFFECT
THE
RIGHTS
OF
ANY
PERSON
WITHOUT
FIRST
GIVING
HIM
AN
OPPORTUNITY
OF
PUTTING
FORWARD
HIS
CASE
b
4HE
PRINCIPLES
OF
NATURAL
JUSTICE
ARE
ENSHRINED
IN
!RTICLES
OF
THE
#ONSTITUTION
OF
)NDIA
!DHERENCE
TO
THE
0RINCIPLES
OF
.ATURAL
*USTICE
IS
THE
VERY
SOUL
OF
THE
ADMINISTRATION
OF
*USTICE
c
4HE
PRINCIPLES
OF
NATURAL
JUSTICE
ARE
FUNDAMENTAL
IN
NATURE
VERY
BASIC
AND
IT
IS
NOT
TO
BE
CONSTRUED
OR
MISTAKEN
AS
A
MERE
FORMALITY
d
Decisions
‹
1UESTION
ARISES
AS
TO
WHAT
WILL
BE
THE
CONSEQUENCES
OF
VIOLATION
OF
PRINCIPLES
OF
NATURAL
JUSTICE
IE
WHEN
AN
ASSESSEE
IS
DENIED
OPPORTUNITY
OF
BEING
HEARD
&OR
EXAMPLE
WHEN
CONFESSION
BY
A
THIRD
PARTY
IS
RELIED
UPON
BY
THE
!SSESSING
/FFICER
TO
DRAW
ADVERSE
INFERENCE
AGAINST
AN
ASSESSEE
WITH
REFERENCE
TO
ANY
MONEY
RECEIVED
FROM
SUCH
THIRD
PARTY
US
AND
THAT
TOO
WITHOUT
GIVING
COPIES
AND
SUCH
CONFESSIONAL
STATEMENT
OF
THE
ASSESSEE
AND
WITHOUT
GIVING
OPPORTUNITY
TO
SEEK
CROSS
EXAMINA-
TION
OF
THE
THIRD
PARTY
SUCH
ADDITION
CANNOT
BE
SUSTAINED
4HIS
IS
BECAUSE
THE
MATERIAL
USED
BY
THE
!SSESSING
/FFICER
WAS
NOT
IN
THE
NATURE
OF
ADMISSIBLE
EVIDENCE
)N
SUCH
CIRCUMSTANCES
IT
HAS
BEEN
HELD
THAT
THE
ORDER
BEING
A
VIOLATION
OF
PRINCIPLE
OF
NATURAL
JUSTICE
IS
void
AND
null
R.B. Shreeram Durga Prasad & Fatehchand Nursing
Das V Settlement Commission
4AXMAN
)42
3#
Prakash Chand Nahta V CIT
4AXMAN
)42
-0
‹
)F
PRINCIPLES
OF
NATURAL
JUSTICE
ARE
VIOLATED
AT
THE
STAGE
OF
ASSUMPTION
OF
JURISDICTION
IT
WOULD
NULLIFY
THE
ENTIRE
ACTION
OF
SUBSEQUENT
ORDERS
EG
BLOCK
ASSESSMENT
ORDER
PASSED
IN
PURSUANCE
OF
AN
INVALID
SEARCH
125 $)6
!33%33-%.4 Para 3.1.2
Dr. C. Balakrishnan Nair V CIT
4AXMAN
)42
+ER
‹
7HERE
SUCH
VIOLATION
HAS
OCCURRED
DURING
A
VALIDLY
INITIATED
PROCEEDINGS
IT
IS
CURABLE
BUT
ONLY
BEFORE
THE
AUTHORITY
WHO
HAD
FAULTED
IN
THIS
MATTER
Guduthur Brothers V ITO
)42
3#
CIT V N. Krishnan
)42
+ER
C.G.G. Panicker V CIT
)42
+ER
‹
2EASONS
FOR
THE
REASSESSMENT
MUST
BE
FURNISHED
IF
DEMANDED
EVEN
BEFORE
THE
RETURN
IS
FILED
%VEN
THOUGH
THERE
IS
NO
PROVI-
SION
FOR
COMMUNICATING
THE
REASONS
ALONG
WITH
THE
NOTICE
THE
PRINCIPLES
OF
NATURAL
JUSTICE
WOULD
REQUIRE
THE
SAME
Mithlesh Kumar Tripathi V CIT
4AXMAN
)42
!LL
‹
)T
HAS
BEEN
HELD
THAT
FAILURE
TO
FOLLOW
THE
PRINCIPLES
OF
NATURAL
JUSTICE
CANNOT
BE
MADE
GOOD
IN
AN
APPEAL
Tin Box Co. V CIT
4AXMAN
)42
3#
‹
)N
SPITE
OF
AVAILABILITY
OF
AN
ALTERNATIVE
REMEDY
THE
(IGH
#OURT
MAY
STILL
EXERCISE
ITS
WRIT
JURISDICTION
IN
AT
LEAST
THREE
CONTIN-
GENCIES
VIZ
i
WHERE
THE
WRIT
PETITION
SEEKS
ENFORCEMENT
OF
ANY
OF
THE
FUNDAMENTAL
RIGHTS
ii
WHERE
THERE
IS
FAILURE
OF
THE
PRINCIPLES
OF
NATURAL
JUSTICE
OR
iii
WHERE
THE
ORDERS
OR
PROCEEDINGS
ARE
WHOLLY
WITHOUT
JURISDICTION
OR
THE
VIRES
OF
AN
!CT
ARE
CHALLENGED
M. Pirai Choodi V IT O
)42
-AD
3.1.3 BURDEN OF PROOF, ONUS AND SHIFTING OF BURDEN
a
)N
ASSESSMENT
PROCEEDINGS
AN
IMPORTANT
ISSUE
COMES
INTO
PLAY
VIZ
BURDEN
OF
PROOF
)NTERESTINGLY
BURDEN
OF
PROOF
KEEPS
ON
SHIFTING
JUST
AS
FOOTBALL
IN
A
FOOTBALL
MATCH
&URTHERMORE
THERE
ARE
CERTAIN
DEEMING
PROVISIONS
WHICH
HAVE
TO
BE
GIVEN
THEIR
DUE
ROLE
TO
PLAY
WHEREBY
THE
INITIAL
BURDEN
TO
PROVE
HAS
BEEN
PLACED
ON
ASSESSEES
SHOULDER
EG
SECTIONS
!
"
#
ETC
b
/NUS
IS
AN
IMPORTANT
RULE
OF
EVIDENCE
*UST
AS
IN
THE
GAME
OF
CRICKET
THE
TOSS
DECIDES
AS
TO
WHOSE
OBLIGATION
IT
IS
TO
BALL
FIRST
IN
LEGAL
PRO-
CEEDINGS
IT
IS
FOR
THE
PERSON
ON
WHOSE
SHOULDERS
ONUS
LIES
TO
DEFEND
HIM
BY
LAYING
EVIDENCE
,ET
US
IMAGINE
A
SITUATION
WHERE
THERE
IS
A
DEADLOCK
IN
THE
SENSE
THAT
NEITHER
THE
DEPARTMENT
HAS
GOT
ANY
Para 3.1.3 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 126
4AXMAN
)42
+ER
‹
7HERE
SUCH
VIOLATION
HAS
OCCURRED
DURING
A
VALIDLY
INITIATED
PROCEEDINGS
IT
IS
CURABLE
BUT
ONLY
BEFORE
THE
AUTHORITY
WHO
HAD
FAULTED
IN
THIS
MATTER
Guduthur Brothers V ITO
)42
3#
CIT V N. Krishnan
)42
+ER
C.G.G. Panicker V CIT
)42
+ER
‹
2EASONS
FOR
THE
REASSESSMENT
MUST
BE
FURNISHED
IF
DEMANDED
EVEN
BEFORE
THE
RETURN
IS
FILED
%VEN
THOUGH
THERE
IS
NO
PROVI-
SION
FOR
COMMUNICATING
THE
REASONS
ALONG
WITH
THE
NOTICE
THE
PRINCIPLES
OF
NATURAL
JUSTICE
WOULD
REQUIRE
THE
SAME
Mithlesh Kumar Tripathi V CIT
4AXMAN
)42
!LL
‹
)T
HAS
BEEN
HELD
THAT
FAILURE
TO
FOLLOW
THE
PRINCIPLES
OF
NATURAL
JUSTICE
CANNOT
BE
MADE
GOOD
IN
AN
APPEAL
Tin Box Co. V CIT
4AXMAN
)42
3#
‹
)N
SPITE
OF
AVAILABILITY
OF
AN
ALTERNATIVE
REMEDY
THE
(IGH
#OURT
MAY
STILL
EXERCISE
ITS
WRIT
JURISDICTION
IN
AT
LEAST
THREE
CONTIN-
GENCIES
VIZ
i
WHERE
THE
WRIT
PETITION
SEEKS
ENFORCEMENT
OF
ANY
OF
THE
FUNDAMENTAL
RIGHTS
ii
WHERE
THERE
IS
FAILURE
OF
THE
PRINCIPLES
OF
NATURAL
JUSTICE
OR
iii
WHERE
THE
ORDERS
OR
PROCEEDINGS
ARE
WHOLLY
WITHOUT
JURISDICTION
OR
THE
VIRES
OF
AN
!CT
ARE
CHALLENGED
M. Pirai Choodi V IT O
)42
-AD
3.1.3 BURDEN OF PROOF, ONUS AND SHIFTING OF BURDEN
a
)N
ASSESSMENT
PROCEEDINGS
AN
IMPORTANT
ISSUE
COMES
INTO
PLAY
VIZ
BURDEN
OF
PROOF
)NTERESTINGLY
BURDEN
OF
PROOF
KEEPS
ON
SHIFTING
JUST
AS
FOOTBALL
IN
A
FOOTBALL
MATCH
&URTHERMORE
THERE
ARE
CERTAIN
DEEMING
PROVISIONS
WHICH
HAVE
TO
BE
GIVEN
THEIR
DUE
ROLE
TO
PLAY
WHEREBY
THE
INITIAL
BURDEN
TO
PROVE
HAS
BEEN
PLACED
ON
ASSESSEES
SHOULDER
EG
SECTIONS
!
"
#
ETC
b
/NUS
IS
AN
IMPORTANT
RULE
OF
EVIDENCE
*UST
AS
IN
THE
GAME
OF
CRICKET
THE
TOSS
DECIDES
AS
TO
WHOSE
OBLIGATION
IT
IS
TO
BALL
FIRST
IN
LEGAL
PRO-
CEEDINGS
IT
IS
FOR
THE
PERSON
ON
WHOSE
SHOULDERS
ONUS
LIES
TO
DEFEND
HIM
BY
LAYING
EVIDENCE
,ET
US
IMAGINE
A
SITUATION
WHERE
THERE
IS
A
DEADLOCK
IN
THE
SENSE
THAT
NEITHER
THE
DEPARTMENT
HAS
GOT
ANY
Para 3.1.3 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 126
EVIDENCE
NOR
THE
ASSESSEE
1UESTION
ARISES
AS
TO
IN
SUCH
A
CASE
THE
MATTER
WILL
BE
DECIDED
IN
WHOSE
FAVOUR
4HE
ANSWER
WILL
DEPEND
AS
TO
ONUS
WAS
ON
WHOSE
SHOULDERS
!SSUMING
THAT
THE
ONUS
WAS
ON
THE
SHOULDERS
OF
THE
ASSESSEE
AND
IF
HE
HAS
FAILED
TO
DISCHARGE
THE
ONUS
THE
MATTER
WILL
BE
DECIDED
AGAINST
HIM
AND
vice versa
c
4HE
GENERAL
RULE
IS
THAT
ONUS
IE
THE
INITIAL
BURDEN
OF
PROOF
IS
ALWAYS
ON
THE
PARTY
WHO
ASSERTS
A
PROPOSITION
OR
FACT
WHICH
IS
NOT
SELFEVIDENT
4HE
ONUS
TO
PROVE
THAT
THE
APPARENT
IS
NOT
REAL
IS
ON
THE
PARTY
WHO
CLAIMS
IT
TO
BE
SO
)F
NO
EVIDENCE
IS
OFFERED
BY
A
PARTY
WHO
ASSERTS
A
FACT
WHICH
IS
NOT
SELF
EVIDENT
THE
ISSUE
HAS
TO
BE
DECIDED
AGAINST
IT
)F
THE
DEPARTMENT
ALLEGES
THAT
A
TRANSACTION
IS
SHAM
OR
BOGUS
OR
THAT
THE
ASSESSEE
IS
BENAMI
OR
SOMEBODY
ELSE
BURDEN
LIES
UPON
THE
!SSESSING
/FFICER
TO
PROVE
THE
SAME
BY
LAYING
EVIDENCE
d
!
FEW
EXAMPLES
WHERE
THE
ONUS
LIES
ON
THE
REVENUE
ARE
AS
UNDER
i
"URDEN
TO
PROVE
THAT
THE
NOTICE
WAS
ACTUALLY
SERVED
ON
THE
ASSESSEE
ii
4O
PROVE
THAT
A
PARTICULAR
TRANSACTION
IS
SHAM
BOGUS
OR
A
BENAMI
iii
4O
SHOW
THAT
A
PARTICULAR
RECEIPT
CONSTITUTES
INCOME
AND
THAT
THE
INCOME
IS
LIABLE
TO
TAX
iv
!
PARTICULAR
INCOME
HAS
ACCRUED
OR
AROSE
IN
A
PARTICULAR
PLACE
v
)NCOME
HAS
ESCAPED
ASSESSMENT
AND
THE
CONDITIONS
NECESSARY
FOR
INVOKING
THE
PROVISIONS
OF
SEC
EXIST
vi
4O
PROVE
THAT
AN
ASSESSEE
HAS
MADE
UNEXPLAINED
INVESTMENT
EXPENDITURE
ETC
vii
!N
ISOLATED
TRANSACTION
CONSTITUTES
AN
ADVENTURE
IN
THE
NATURE
OF
TRADE
viii
4HE
METHOD
OF
ACCOUNTING
FOLLOWED
BY
AN
ASSESSEE
IS
LIABLE
TO
BE
REJECTED
ix
4O
SATISFY
THE
#OURT
THAT
THERE
EXISTED
REASONS
TO
BELIEVE
TO
JUSTIFY
SEARCH
AND
SEIZURE
ACTION
US
x
4O
BRING
ON
RECORD
COGENT
MATERIALEVIDENCE
TO
ESTABLISH
THAT
THE
TRUSTCHARITABLE
INSTITUTION
IS
HIT
BY
THE
PROVISIONS
OF
SEC
e
!N
ILLUSTRATIVE
LIST
OF
CIRCUMSTANCES
IN
WHICH
ONUS
OF
PROVING
IS
ON
THE
ASSESSEE
i
7HERE
THE
ASSESSEE
CLAIMS
THAT
AN
INCOME
IS
EXEMPT
OR
A
RECEIPT
IS
NOT
INCOME
127 $)6
!33%33-%.4 Para 3.1.3
NOR
THE
ASSESSEE
1UESTION
ARISES
AS
TO
IN
SUCH
A
CASE
THE
MATTER
WILL
BE
DECIDED
IN
WHOSE
FAVOUR
4HE
ANSWER
WILL
DEPEND
AS
TO
ONUS
WAS
ON
WHOSE
SHOULDERS
!SSUMING
THAT
THE
ONUS
WAS
ON
THE
SHOULDERS
OF
THE
ASSESSEE
AND
IF
HE
HAS
FAILED
TO
DISCHARGE
THE
ONUS
THE
MATTER
WILL
BE
DECIDED
AGAINST
HIM
AND
vice versa
c
4HE
GENERAL
RULE
IS
THAT
ONUS
IE
THE
INITIAL
BURDEN
OF
PROOF
IS
ALWAYS
ON
THE
PARTY
WHO
ASSERTS
A
PROPOSITION
OR
FACT
WHICH
IS
NOT
SELFEVIDENT
4HE
ONUS
TO
PROVE
THAT
THE
APPARENT
IS
NOT
REAL
IS
ON
THE
PARTY
WHO
CLAIMS
IT
TO
BE
SO
)F
NO
EVIDENCE
IS
OFFERED
BY
A
PARTY
WHO
ASSERTS
A
FACT
WHICH
IS
NOT
SELF
EVIDENT
THE
ISSUE
HAS
TO
BE
DECIDED
AGAINST
IT
)F
THE
DEPARTMENT
ALLEGES
THAT
A
TRANSACTION
IS
SHAM
OR
BOGUS
OR
THAT
THE
ASSESSEE
IS
BENAMI
OR
SOMEBODY
ELSE
BURDEN
LIES
UPON
THE
!SSESSING
/FFICER
TO
PROVE
THE
SAME
BY
LAYING
EVIDENCE
d
!
FEW
EXAMPLES
WHERE
THE
ONUS
LIES
ON
THE
REVENUE
ARE
AS
UNDER
i
"URDEN
TO
PROVE
THAT
THE
NOTICE
WAS
ACTUALLY
SERVED
ON
THE
ASSESSEE
ii
4O
PROVE
THAT
A
PARTICULAR
TRANSACTION
IS
SHAM
BOGUS
OR
A
BENAMI
iii
4O
SHOW
THAT
A
PARTICULAR
RECEIPT
CONSTITUTES
INCOME
AND
THAT
THE
INCOME
IS
LIABLE
TO
TAX
iv
!
PARTICULAR
INCOME
HAS
ACCRUED
OR
AROSE
IN
A
PARTICULAR
PLACE
v
)NCOME
HAS
ESCAPED
ASSESSMENT
AND
THE
CONDITIONS
NECESSARY
FOR
INVOKING
THE
PROVISIONS
OF
SEC
EXIST
vi
4O
PROVE
THAT
AN
ASSESSEE
HAS
MADE
UNEXPLAINED
INVESTMENT
EXPENDITURE
ETC
vii
!N
ISOLATED
TRANSACTION
CONSTITUTES
AN
ADVENTURE
IN
THE
NATURE
OF
TRADE
viii
4HE
METHOD
OF
ACCOUNTING
FOLLOWED
BY
AN
ASSESSEE
IS
LIABLE
TO
BE
REJECTED
ix
4O
SATISFY
THE
#OURT
THAT
THERE
EXISTED
REASONS
TO
BELIEVE
TO
JUSTIFY
SEARCH
AND
SEIZURE
ACTION
US
x
4O
BRING
ON
RECORD
COGENT
MATERIALEVIDENCE
TO
ESTABLISH
THAT
THE
TRUSTCHARITABLE
INSTITUTION
IS
HIT
BY
THE
PROVISIONS
OF
SEC
e
!N
ILLUSTRATIVE
LIST
OF
CIRCUMSTANCES
IN
WHICH
ONUS
OF
PROVING
IS
ON
THE
ASSESSEE
i
7HERE
THE
ASSESSEE
CLAIMS
THAT
AN
INCOME
IS
EXEMPT
OR
A
RECEIPT
IS
NOT
INCOME
127 $)6
!33%33-%.4 Para 3.1.3
ii
)N
THE
CASE
OF
A
CASH
CREDIT
IDENTITY
OF
THE
CREDITOR
HIS
CRED-
ITWORTHINESS
OR
CAPACITY
TO
ADVANCE
LOAN
AND
THE
GENUINENESS
OF
THE
TRANSACTION
iii
7HERE
AN
ASSESSEE
CLAIMS
DEDUCTION
OF
AN
EXPENDITURE
iv
4O
ESTABLISH
THAT
THE
AMOUNT
LAID
OUT
OR
EXPENDED
BY
THE
AS-
SESSEE
WAS
WHOLLY
OR
EXCLUSIVELY
USED
FOR
THE
PURPOSE
OF
ITS
BUSINESS
v
4O
PROVE
THAT
A
RETURN
OF
INCOME
OR
AN
APPEAL
WAS
FILED
IN
TIME
vi
4O
PROVE
CAPITAL
CONTRIBUTION
BY
PROPRIETORPARTNERS
vii
4HE
!SSESSING
/FFICER
HAS
ACTED
mala fide.
f
(OWEVER
LAW
DOES
NOT
EXPECT
AN
ASSESSEE
TO
DO
AN
IMPOSSIBLE
Lex cogit ad impossibilia followed in -
Life Insurance Corpn. of India V
CIT
4AXMAN
)42
3#
3.1.4 DEEMING PROVISIONS
a
)N
AN
OVERSIMPLE
EXPRESSION
A
DEEMING
PROVISION
IS
ONE
WHICH
DEEMS
A
BOY
TO
BE
A
GIRL
AND
vice versa
b
$EEMING
PROVISION
IS
A
PRESUMPTIVE
STATEMENT
WHICH
ALLOWS
LEGAL
PROCEEDINGS
TO
TAKE
PLACE
IN
A
TIMELY
MANNER
AND
WITHOUT
INCONVE-
NIENT
INTERRUPTIONS
c
4HE
WORD
hDEEMEDv
IS
APT
TO
INCLUDE
THE
OBVIOUS
THE
UNCERTAIN
AND
EVEN
THE
IMPOSSIBLE
3OMETIMES
IT
IS
USED
TO
PUT
BEYOND
DOUBT
A
PARTICULAR
CONSTRUCTION
THAT
MIGHT
OTHERWISE
BE
UNCERTAIN
d
!
DEEMING
PROVISION
IS
SOMETIMES
INTENDED
TO
ENLARGE
THE
MEANING
OF
A
PARTICULAR
WORD
WHICH
INCLUDES
MATTERS
WHICH
OTHERWISE
MAY
OR
MAY
NOT
FALL
WITHIN
THE
PROVISION
4HUS
THE
CONSEQUENCES
AND
INCIDENTS
FOLLOWING
FROM
A
LEGAL
FICTION
SHOULD
ALSO
BE
DEEMED
TO
BE
REAL
e
4HERE
IS
DIFFERENCE
BETWEEN
A
LEGAL
FICTION
AND
A
LEGAL
PRESUMPTION
!
LEGAL
FICTION
IS
A
LEGAL
PROVISION
WHICH
CREATES
A
FACT
OUT
OF
WHAT
IS
NOT
A
FACT
,EGAL
FICTIONS
ARE
ONLY
FOR
A
DEFINITE
PURPOSE
4HEY
HAVE
TO
BE
STRICTLY
CONSTRUED
AND
THEY
ARE
LIMITED
TO
THE
PURPOSE
FOR
WHICH
THEY
ARE
CREATED
AND
SHOULD
NOT
BE
EXTENDED
BEYOND
THEIR
LEGITIMATE
FIELD
4HERE
CAN
BE
NO
FICTION
UPON
FICTION
)T
ASSUMES
SIGNIFICANCE
IN
THE
CONTEXT
OF
PENALTY
PROVISION
3INCE
DEEMING
PROVISIONS
ARE
CREATED
BY
A
FICTION
THERE
CAN
BE
NO
FICTION
UPON
FICTION
AND
THEREFORE
THE
DEEMED
INCOME
CANNOT
ipso facto BE
LIABLE
FOR
PENALTIES
4HE
LAW
IS
Para 3.1.4 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 128
)N
THE
CASE
OF
A
CASH
CREDIT
IDENTITY
OF
THE
CREDITOR
HIS
CRED-
ITWORTHINESS
OR
CAPACITY
TO
ADVANCE
LOAN
AND
THE
GENUINENESS
OF
THE
TRANSACTION
iii
7HERE
AN
ASSESSEE
CLAIMS
DEDUCTION
OF
AN
EXPENDITURE
iv
4O
ESTABLISH
THAT
THE
AMOUNT
LAID
OUT
OR
EXPENDED
BY
THE
AS-
SESSEE
WAS
WHOLLY
OR
EXCLUSIVELY
USED
FOR
THE
PURPOSE
OF
ITS
BUSINESS
v
4O
PROVE
THAT
A
RETURN
OF
INCOME
OR
AN
APPEAL
WAS
FILED
IN
TIME
vi
4O
PROVE
CAPITAL
CONTRIBUTION
BY
PROPRIETORPARTNERS
vii
4HE
!SSESSING
/FFICER
HAS
ACTED
mala fide.
f
(OWEVER
LAW
DOES
NOT
EXPECT
AN
ASSESSEE
TO
DO
AN
IMPOSSIBLE
Lex cogit ad impossibilia followed in -
Life Insurance Corpn. of India V
CIT
4AXMAN
)42
3#
3.1.4 DEEMING PROVISIONS
a
)N
AN
OVERSIMPLE
EXPRESSION
A
DEEMING
PROVISION
IS
ONE
WHICH
DEEMS
A
BOY
TO
BE
A
GIRL
AND
vice versa
b
$EEMING
PROVISION
IS
A
PRESUMPTIVE
STATEMENT
WHICH
ALLOWS
LEGAL
PROCEEDINGS
TO
TAKE
PLACE
IN
A
TIMELY
MANNER
AND
WITHOUT
INCONVE-
NIENT
INTERRUPTIONS
c
4HE
WORD
hDEEMEDv
IS
APT
TO
INCLUDE
THE
OBVIOUS
THE
UNCERTAIN
AND
EVEN
THE
IMPOSSIBLE
3OMETIMES
IT
IS
USED
TO
PUT
BEYOND
DOUBT
A
PARTICULAR
CONSTRUCTION
THAT
MIGHT
OTHERWISE
BE
UNCERTAIN
d
!
DEEMING
PROVISION
IS
SOMETIMES
INTENDED
TO
ENLARGE
THE
MEANING
OF
A
PARTICULAR
WORD
WHICH
INCLUDES
MATTERS
WHICH
OTHERWISE
MAY
OR
MAY
NOT
FALL
WITHIN
THE
PROVISION
4HUS
THE
CONSEQUENCES
AND
INCIDENTS
FOLLOWING
FROM
A
LEGAL
FICTION
SHOULD
ALSO
BE
DEEMED
TO
BE
REAL
e
4HERE
IS
DIFFERENCE
BETWEEN
A
LEGAL
FICTION
AND
A
LEGAL
PRESUMPTION
!
LEGAL
FICTION
IS
A
LEGAL
PROVISION
WHICH
CREATES
A
FACT
OUT
OF
WHAT
IS
NOT
A
FACT
,EGAL
FICTIONS
ARE
ONLY
FOR
A
DEFINITE
PURPOSE
4HEY
HAVE
TO
BE
STRICTLY
CONSTRUED
AND
THEY
ARE
LIMITED
TO
THE
PURPOSE
FOR
WHICH
THEY
ARE
CREATED
AND
SHOULD
NOT
BE
EXTENDED
BEYOND
THEIR
LEGITIMATE
FIELD
4HERE
CAN
BE
NO
FICTION
UPON
FICTION
)T
ASSUMES
SIGNIFICANCE
IN
THE
CONTEXT
OF
PENALTY
PROVISION
3INCE
DEEMING
PROVISIONS
ARE
CREATED
BY
A
FICTION
THERE
CAN
BE
NO
FICTION
UPON
FICTION
AND
THEREFORE
THE
DEEMED
INCOME
CANNOT
ipso facto BE
LIABLE
FOR
PENALTIES
4HE
LAW
IS
Para 3.1.4 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 128
FAIRLY
WELLSETTLED
THAT
THOUGH
THE
FINDING
RECORDED
IN
THE
ASSESSMENT
ORDERS
MAY
BE
RELEVANT
TO
INITIATE
PENALTY
FOR
CONCEALMENT
YET
THESE
CANNOT
BE
SUFFICIENT
FOR
HOLDING
THE
ASSESSEE
GUILTY
OF
CONCEALMENT
4HE
FICTIONS
CREATED
UNDER
SECS
!
"
AND
#
BY
ITSELF
CANNOT
BE
EXTENDED
TO
PENALTY
PROCEEDINGS
TO
RAISE
THE
PRESUMPTION
ABOUT
CONCEALMENT
OF
SUCH
INCOME
CIT V Baroda T in Works
)42
'UJ
f
!
LEGAL
PRESUMPTION
IS
A
LEGAL
INFERENCE
TO
BE
DRAWN
FROM
A
PARTIC-
ULAR
FACT
OR
SET
OF
FACTS
ETC
7HEN
A
LEGAL
PRESUMPTION
IS
SOUGHT
TO
BE
RAISED
BY
A
SPECIFIC
AND
DISTINCT
PROVISION
IT
CANNOT
BE
SAID
TO
BE
SIMPLY
CLARIFICATORY
IN
NATURE
BUT
FOR
ALL
INTENTS
AND
PURPOSES
IT
HAS
TO
BE
TREATED
TO
BE
A
SUBSTANTIVE
PROVISION
OF
LAW
g
!N
INFERENCE
OF
FACT
DRAWN
FROM
OTHER
KNOWN
OR
PROVED
FACTS
IS
A
@PRESUMPTION
4HREE
TYPES
OF
EXPRESSIONS
ARE
GENERALLY
USED
IN
THIS
CONTEXT
VIZ
i
@-AY
PRESUME
ii
@3HALL
PRESUME
AND
iii
@#ONCLUSIVE
PROOF
h
@-AY
PRESUME
MEANS
SUCH
PRESUMPTION
IS
OPTIONAL
IT
MAY
BE
INVOKED
OR
IT
MAY
NOT
BE
INVOKED
3UCH
PRESUMPTION
IS
REBUTTABLE
&OR
EXAMPLE
IN
SEC
!
OF
THE
!CT
THE
WORDS
hMAY
BE
PRESUMEDv
HAVE
BEEN
USED
AND
PRESUMPTIONS
ARE
RAISED
FOR
THE
BOOKS
OF
ACCOUNT
VALUABLES
ETC
FOUND
IN
THE
POSSESSION
OF
THE
PERSON
SEARCHED
THAT
THEY
BELONG
TO
THAT
PERSON
THE
CONTENTS
ARE
TRUE
AND
SO
ON
(OWEVER
THE
PERSON
SO
SEARCHED
IS
ENTITLED
TO
LEAD
EVIDENCE
TO
REBUT
SUCH
PRESUMPTION
i
@3HALL
PRESUME
DOES
NOT
GIVE
ANY
OPTION
TO
THE
AUTHORITY
BUT
TO
AS-
SUME
IT
TO
BE
SO
(OWEVER
SUCH
PRESUMPTION
IS
ALSO
REBUTTABLE
BY
LEADING
EVIDENCE
j
@#ONCLUSIVE
PROOF
MEANS
AN
IRREBUTTABLE
PRESUMPTION
)T
CANNOT
BE
REBUTTED
BY
ANY
AMOUNT
OF
EVIDENCE
TO
THE
CONTRARY
k
!
REBUTTABLE
PRESUMPTION
IS
MERELY
A
RULE
OF
EVIDENCE
AND
IT
DEFINES
AS
TO
UPON
WHOSE
SHOULDERS
THE
INITIAL
onus
LIES
3UCH
A
PERSON
GETS
AN
OPPORTUNITY
TO
DISPLACE
SUCH
PRESUMPTION
BY
LEADING
EVIDENCE
$IRECT
DOCUMENTARY
EVIDENCE
CIRCUMSTANTIAL
EVIDENCE
A
STATEMENT
OF
THE
ASSESSEE
OR
EVEN
HIS
MERE
DENIAL
MAY
DISCHARGE
THE
onus
DEPENDING
UPON
FACTS
OF
EACH
CASE
l
)N
SECS
!$
!%
!&
ANY
DEDUCTION
ALLOWABLE
USECS
TO
SHALL
BE
DEEMED
TO
HAVE
BEEN
ALLOWED
&URTHER
THE
WRITTEN
DOWN
VALUE
OF
ANY
ASSET
USED
FOR
THE
PURPOSE
OF
BUSINESS
SHALL
BE
CALCULAT-
129 $)6
!33%33-%.4 Para 3.1.4
WELLSETTLED
THAT
THOUGH
THE
FINDING
RECORDED
IN
THE
ASSESSMENT
ORDERS
MAY
BE
RELEVANT
TO
INITIATE
PENALTY
FOR
CONCEALMENT
YET
THESE
CANNOT
BE
SUFFICIENT
FOR
HOLDING
THE
ASSESSEE
GUILTY
OF
CONCEALMENT
4HE
FICTIONS
CREATED
UNDER
SECS
!
"
AND
#
BY
ITSELF
CANNOT
BE
EXTENDED
TO
PENALTY
PROCEEDINGS
TO
RAISE
THE
PRESUMPTION
ABOUT
CONCEALMENT
OF
SUCH
INCOME
CIT V Baroda T in Works
)42
'UJ
f
!
LEGAL
PRESUMPTION
IS
A
LEGAL
INFERENCE
TO
BE
DRAWN
FROM
A
PARTIC-
ULAR
FACT
OR
SET
OF
FACTS
ETC
7HEN
A
LEGAL
PRESUMPTION
IS
SOUGHT
TO
BE
RAISED
BY
A
SPECIFIC
AND
DISTINCT
PROVISION
IT
CANNOT
BE
SAID
TO
BE
SIMPLY
CLARIFICATORY
IN
NATURE
BUT
FOR
ALL
INTENTS
AND
PURPOSES
IT
HAS
TO
BE
TREATED
TO
BE
A
SUBSTANTIVE
PROVISION
OF
LAW
g
!N
INFERENCE
OF
FACT
DRAWN
FROM
OTHER
KNOWN
OR
PROVED
FACTS
IS
A
@PRESUMPTION
4HREE
TYPES
OF
EXPRESSIONS
ARE
GENERALLY
USED
IN
THIS
CONTEXT
VIZ
i
@-AY
PRESUME
ii
@3HALL
PRESUME
AND
iii
@#ONCLUSIVE
PROOF
h
@-AY
PRESUME
MEANS
SUCH
PRESUMPTION
IS
OPTIONAL
IT
MAY
BE
INVOKED
OR
IT
MAY
NOT
BE
INVOKED
3UCH
PRESUMPTION
IS
REBUTTABLE
&OR
EXAMPLE
IN
SEC
!
OF
THE
!CT
THE
WORDS
hMAY
BE
PRESUMEDv
HAVE
BEEN
USED
AND
PRESUMPTIONS
ARE
RAISED
FOR
THE
BOOKS
OF
ACCOUNT
VALUABLES
ETC
FOUND
IN
THE
POSSESSION
OF
THE
PERSON
SEARCHED
THAT
THEY
BELONG
TO
THAT
PERSON
THE
CONTENTS
ARE
TRUE
AND
SO
ON
(OWEVER
THE
PERSON
SO
SEARCHED
IS
ENTITLED
TO
LEAD
EVIDENCE
TO
REBUT
SUCH
PRESUMPTION
i
@3HALL
PRESUME
DOES
NOT
GIVE
ANY
OPTION
TO
THE
AUTHORITY
BUT
TO
AS-
SUME
IT
TO
BE
SO
(OWEVER
SUCH
PRESUMPTION
IS
ALSO
REBUTTABLE
BY
LEADING
EVIDENCE
j
@#ONCLUSIVE
PROOF
MEANS
AN
IRREBUTTABLE
PRESUMPTION
)T
CANNOT
BE
REBUTTED
BY
ANY
AMOUNT
OF
EVIDENCE
TO
THE
CONTRARY
k
!
REBUTTABLE
PRESUMPTION
IS
MERELY
A
RULE
OF
EVIDENCE
AND
IT
DEFINES
AS
TO
UPON
WHOSE
SHOULDERS
THE
INITIAL
onus
LIES
3UCH
A
PERSON
GETS
AN
OPPORTUNITY
TO
DISPLACE
SUCH
PRESUMPTION
BY
LEADING
EVIDENCE
$IRECT
DOCUMENTARY
EVIDENCE
CIRCUMSTANTIAL
EVIDENCE
A
STATEMENT
OF
THE
ASSESSEE
OR
EVEN
HIS
MERE
DENIAL
MAY
DISCHARGE
THE
onus
DEPENDING
UPON
FACTS
OF
EACH
CASE
l
)N
SECS
!$
!%
!&
ANY
DEDUCTION
ALLOWABLE
USECS
TO
SHALL
BE
DEEMED
TO
HAVE
BEEN
ALLOWED
&URTHER
THE
WRITTEN
DOWN
VALUE
OF
ANY
ASSET
USED
FOR
THE
PURPOSE
OF
BUSINESS
SHALL
BE
CALCULAT-
129 $)6
!33%33-%.4 Para 3.1.4
ED
AS
IF
THE
ASSESSEE
HAD
CLAIMED
AND
ACTUALLY
ALLOWED
DEPRECIATION
4HESE
PRESUMPTIONS
ARE
OF
CONCLUSIVE
NATURE
LEAVING
NO
SCOPE
OF
THEIR
REBUTTAL
3.1.5 PREVIOUS YEAR
a
)NCOME
4AX
IS
AN
ANNUAL
CHARGE
ON
INCOME
)T
IS
LEVIED
ON
TOTAL
INCOME
OF
A
PREVIOUS
YEAR
b
&OR
ALL
PRACTICAL
PURPOSES
IT
IS
A
FINANCIAL
YEAR
FROM
ST
!PRIL
TO
ST
-ARCH
EACH
YEAR
IMMEDIATELY
PRECEDING
THE
RELEVANT
!SSESSMENT
9EAR
c
&OR
EXAMPLE
FOR
!SSESSMENT
9EAR
THE
PREVIOUS
YEAR
WILL
BE
FROM
TO
)N
OTHER
WORDS
4OTAL
)NCOME
FOR
THE
FINANCIAL
YEAR
COVERING
PERIOD
FROM
TO
WILL
BE
CHARGEABLE
TO
)NCOME
4AX
IN
!SSESSMENT
9EAR
AS
PER
LAW
APPLICABLE
TO
!SSESSMENT
9EAR
d
)N
COMMON
PARLANCE
PREVIOUS
YEAR
MAY
MEAN
ACCOUNTING
YEAR
WHERE
ACCOUNTS
ARE
MAINTAINED
BY
AN
ASSESSEE
RELATING
TO
THE
INCOME
ACCRUED
OR
RECEIVED
3.1.6 CBDT CIRCULARS
i
#IRCULARS
ARE
ISSUED
BY
THE
#"$4
TO
CLARIFY
THE
MEANING
AND
SCOPE
OF
CERTAIN
PROVISIONS
CONTAINED
IN
THE
!CT
.OTIFICATIONS
ARE
ISSUED
BY
THE
#ENTRAL
'OVERNMENT
TO
GIVE
EFFECT
TO
THE
PROVISIONS
OF
THE
!CT
ii
4HE
#"$4
#ENTRAL
"OARD
OF
$IRECT
4AXES
MAY
FROM
TIME
TO
TIME
ISSUE
ORDERS
INSTRUCTIONS
AND
DIRECTIONS
TO
OTHER
)NCOME
4AX
AUTHO
RITIES
FOR
THE
PROPER
ADMINISTRATION
OF
THE
!CT
WHICH
ARE
BINDING
ON
ALL
THE
AUTHORITIES
EMPLOYED
IN
EXECUTION
OF
THIS
!CT
ITO V D. Manoharlal Kothari
4AXMAN
)42
-AD
Grindlays Bank P.L.C. V CIT
;=
)42
#AL
CWT V Sanwarmal Shivkumar
;=
4AXMAN
;=
)42
2AJ
Navnit Lal C. Javeri V K.K. Sen
)42
3#
iii
4HE
PRINCIPAL
NATURE
OF
CIRCULAR
IS
BASED
ON
h$OCTRINE
OF
%STOPPELv
Motilal Padampat Sugar Mills Co. Ltd. V
State of U.P.
)42
3#
iv
(OWEVER
SUCH
CIRCULARS
DIRECTIONS
ETC
ARE
NOT
BINDING
ON
APPELLATE
AUTHORITY
THE
4RIBUNAL
THE
#OURT
OR
THE
ASSESSEE
Para 3.1.6 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 130
AS
IF
THE
ASSESSEE
HAD
CLAIMED
AND
ACTUALLY
ALLOWED
DEPRECIATION
4HESE
PRESUMPTIONS
ARE
OF
CONCLUSIVE
NATURE
LEAVING
NO
SCOPE
OF
THEIR
REBUTTAL
3.1.5 PREVIOUS YEAR
a
)NCOME
4AX
IS
AN
ANNUAL
CHARGE
ON
INCOME
)T
IS
LEVIED
ON
TOTAL
INCOME
OF
A
PREVIOUS
YEAR
b
&OR
ALL
PRACTICAL
PURPOSES
IT
IS
A
FINANCIAL
YEAR
FROM
ST
!PRIL
TO
ST
-ARCH
EACH
YEAR
IMMEDIATELY
PRECEDING
THE
RELEVANT
!SSESSMENT
9EAR
c
&OR
EXAMPLE
FOR
!SSESSMENT
9EAR
THE
PREVIOUS
YEAR
WILL
BE
FROM
TO
)N
OTHER
WORDS
4OTAL
)NCOME
FOR
THE
FINANCIAL
YEAR
COVERING
PERIOD
FROM
TO
WILL
BE
CHARGEABLE
TO
)NCOME
4AX
IN
!SSESSMENT
9EAR
AS
PER
LAW
APPLICABLE
TO
!SSESSMENT
9EAR
d
)N
COMMON
PARLANCE
PREVIOUS
YEAR
MAY
MEAN
ACCOUNTING
YEAR
WHERE
ACCOUNTS
ARE
MAINTAINED
BY
AN
ASSESSEE
RELATING
TO
THE
INCOME
ACCRUED
OR
RECEIVED
3.1.6 CBDT CIRCULARS
i
#IRCULARS
ARE
ISSUED
BY
THE
#"$4
TO
CLARIFY
THE
MEANING
AND
SCOPE
OF
CERTAIN
PROVISIONS
CONTAINED
IN
THE
!CT
.OTIFICATIONS
ARE
ISSUED
BY
THE
#ENTRAL
'OVERNMENT
TO
GIVE
EFFECT
TO
THE
PROVISIONS
OF
THE
!CT
ii
4HE
#"$4
#ENTRAL
"OARD
OF
$IRECT
4AXES
MAY
FROM
TIME
TO
TIME
ISSUE
ORDERS
INSTRUCTIONS
AND
DIRECTIONS
TO
OTHER
)NCOME
4AX
AUTHO
RITIES
FOR
THE
PROPER
ADMINISTRATION
OF
THE
!CT
WHICH
ARE
BINDING
ON
ALL
THE
AUTHORITIES
EMPLOYED
IN
EXECUTION
OF
THIS
!CT
ITO V D. Manoharlal Kothari
4AXMAN
)42
-AD
Grindlays Bank P.L.C. V CIT
;=
)42
#AL
CWT V Sanwarmal Shivkumar
;=
4AXMAN
;=
)42
2AJ
Navnit Lal C. Javeri V K.K. Sen
)42
3#
iii
4HE
PRINCIPAL
NATURE
OF
CIRCULAR
IS
BASED
ON
h$OCTRINE
OF
%STOPPELv
Motilal Padampat Sugar Mills Co. Ltd. V
State of U.P.
)42
3#
iv
(OWEVER
SUCH
CIRCULARS
DIRECTIONS
ETC
ARE
NOT
BINDING
ON
APPELLATE
AUTHORITY
THE
4RIBUNAL
THE
#OURT
OR
THE
ASSESSEE
Para 3.1.6 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 130
v
!
CIRCULAR
OF
THE
"OARD
HAS
THE
FORCE
OF
LAW
AND
CAN
EVEN
SUPPLEMENT
THE
LAW
IN
CASES
WHERE
IT
IS
BENEFICIAL
TO
THE
ASSESSEE
CIT V Aspinwall & Co. Ltd
)42
+ER
vi
%VEN
THE
CIRCULAR
DEVIATED
FROM
THE
PROVISIONS
OF
THE
!CT
ARE
BINDING
ON
THE
!SSESSING
/FFICER
Ellerman Lines Ltd. V CIT
)42
3#
Jaikishan Gopikishan & Sons V CIT
4AXMAN
)42
-0
vii
4HE
CONTRARY
VIEW
IN
Union of India V Azadi Bachao Andolan
4AXMAN
)42
3#
IS
WITH
REGARDS
INCORRECT
viii
#IRCULARS
OR
GENERAL
DIRECTIONS
ISSUED
BY
THE
#"$4
ARE
BINDING
ON
ALL
OFFICERS
AND
PERSONS
EMPLOYED
UNDER
THE
!CT
IN
VIEW
OF
SECTION
(OWEVER
THE
PRACTICES
FOLLOWED
IN
THE
DEPARTMENT
OR
GUIDANCE
IN
)NCOME
4AX
-ANUAL
OR
PRESS
NOTIFICATIONS
DO
NOT
HAVE
THE
SAME
LEGAL
FORCE
3.1.7 RES JUDICATA
a
Res Judicata
IS
A
PHRASE
WHICH
HAS
BEEN
EVOLVED
FROM
A
,ATIN
MAXIM
WHICH
STAND
FOR
@THE
THING
HAS
BEEN
JUDGED
MEANING
THERE
BY
THAT
THE
ISSUE
BEFORE
THE
COURT
HAS
ALREADY
BEEN
DECIDED
BY
ANOTHER
COURT
BETWEEN
THE
SAME
PARTIES
b
4HE
DOCTRINE
OF
res judicata
MEANS
hESTOPPEL
BY
RECORDv
)T
IS
APPLI-
CABLE
TO
PROCEEDINGS
BEFORE
#OURT
AND
WHEREIN
A
DECISION
REACHED
OR
A
FINDING
GIVEN
IN
A
YEAR
IS
AUTOMATICALLY
AVAILABLE
IN
SUBSEQUENT
YEAR
c
Res JUDICATA
IS
A
RULE
THAT
A
FINAL
JUDGMENT
RENDERED
BY
A
COURT
OF
COMPETENT
JURISDICTION
ON
THE
MERITS
IS
CONCLUSIVE
AS
TO
THE
RIGHTS
OF
THE
PARTIES
AND
THEIR
PRIVIES
PUTTING
AN
ABSOLUTE
BAR
TO
A
SUBSEQUENT
ACTION
INVOLVING
THE
SAME
CLAIM
DEMAND
OR
CAUSE
OF
ACTION
d
(OWEVER
AS
A
GENERAL
RULE
THE
doctrine of res judicata does not
apply to tax laws
4HIS
IS
BECAUSE
EACH
YEAR
IS
AN
INDEPENDENT
YEAR
AND
ASSESSMENT
IS
FINAL
AND
CONCLUSIVE
BETWEEN
THE
PARTIES
ONLY
IN
RELATION
TO
THAT
PARTICULAR
YEAR
FOR
WHICH
IT
IS
MADE
e
Decisions
i
4HE
DECISIONS
GIVEN
IN
ONE
!SSESSMENT
YEAR
WILL
NOT
BE
BINDING
ON
THE
PARTIES
FOR
SUBSEQUENT
YEARS
ITO V Murlidhar Bhagwan Das
)42
3#
Instalments Supply P. Ltd. V Union of India
!)2
3#
131 $)6
!33%33-%.4 Para 3.1.7
!
CIRCULAR
OF
THE
"OARD
HAS
THE
FORCE
OF
LAW
AND
CAN
EVEN
SUPPLEMENT
THE
LAW
IN
CASES
WHERE
IT
IS
BENEFICIAL
TO
THE
ASSESSEE
CIT V Aspinwall & Co. Ltd
)42
+ER
vi
%VEN
THE
CIRCULAR
DEVIATED
FROM
THE
PROVISIONS
OF
THE
!CT
ARE
BINDING
ON
THE
!SSESSING
/FFICER
Ellerman Lines Ltd. V CIT
)42
3#
Jaikishan Gopikishan & Sons V CIT
4AXMAN
)42
-0
vii
4HE
CONTRARY
VIEW
IN
Union of India V Azadi Bachao Andolan
4AXMAN
)42
3#
IS
WITH
REGARDS
INCORRECT
viii
#IRCULARS
OR
GENERAL
DIRECTIONS
ISSUED
BY
THE
#"$4
ARE
BINDING
ON
ALL
OFFICERS
AND
PERSONS
EMPLOYED
UNDER
THE
!CT
IN
VIEW
OF
SECTION
(OWEVER
THE
PRACTICES
FOLLOWED
IN
THE
DEPARTMENT
OR
GUIDANCE
IN
)NCOME
4AX
-ANUAL
OR
PRESS
NOTIFICATIONS
DO
NOT
HAVE
THE
SAME
LEGAL
FORCE
3.1.7 RES JUDICATA
a
Res Judicata
IS
A
PHRASE
WHICH
HAS
BEEN
EVOLVED
FROM
A
,ATIN
MAXIM
WHICH
STAND
FOR
@THE
THING
HAS
BEEN
JUDGED
MEANING
THERE
BY
THAT
THE
ISSUE
BEFORE
THE
COURT
HAS
ALREADY
BEEN
DECIDED
BY
ANOTHER
COURT
BETWEEN
THE
SAME
PARTIES
b
4HE
DOCTRINE
OF
res judicata
MEANS
hESTOPPEL
BY
RECORDv
)T
IS
APPLI-
CABLE
TO
PROCEEDINGS
BEFORE
#OURT
AND
WHEREIN
A
DECISION
REACHED
OR
A
FINDING
GIVEN
IN
A
YEAR
IS
AUTOMATICALLY
AVAILABLE
IN
SUBSEQUENT
YEAR
c
Res JUDICATA
IS
A
RULE
THAT
A
FINAL
JUDGMENT
RENDERED
BY
A
COURT
OF
COMPETENT
JURISDICTION
ON
THE
MERITS
IS
CONCLUSIVE
AS
TO
THE
RIGHTS
OF
THE
PARTIES
AND
THEIR
PRIVIES
PUTTING
AN
ABSOLUTE
BAR
TO
A
SUBSEQUENT
ACTION
INVOLVING
THE
SAME
CLAIM
DEMAND
OR
CAUSE
OF
ACTION
d
(OWEVER
AS
A
GENERAL
RULE
THE
doctrine of res judicata does not
apply to tax laws
4HIS
IS
BECAUSE
EACH
YEAR
IS
AN
INDEPENDENT
YEAR
AND
ASSESSMENT
IS
FINAL
AND
CONCLUSIVE
BETWEEN
THE
PARTIES
ONLY
IN
RELATION
TO
THAT
PARTICULAR
YEAR
FOR
WHICH
IT
IS
MADE
e
Decisions
i
4HE
DECISIONS
GIVEN
IN
ONE
!SSESSMENT
YEAR
WILL
NOT
BE
BINDING
ON
THE
PARTIES
FOR
SUBSEQUENT
YEARS
ITO V Murlidhar Bhagwan Das
)42
3#
Instalments Supply P. Ltd. V Union of India
!)2
3#
131 $)6
!33%33-%.4 Para 3.1.7
ii
h%ACH
YEAR
IS
DISTINCT
UNIT
YEAR
AND
ANY
MISTAKES
OR
ERRORS
COMMITTED
IN
ONE
ASSESSMENT
YEAR
CANNOT
BE
DIRECTED
TO
BE
REPEATED
IN
THE
NEXT
YEAR
EITHER
ON
THE
GROUND
OF
ESTOPPEL
OR
ON
THE
GROUND
OF
res judicatav
K. Sadasiva Krishnarao V CIT
4AXMAN
)42
!0
iii
h)T
IS
TRUE
THAT
THE
PAST
HISTORY
MIGHT
BE
LEGITIMATE
MATERIAL
BUT
THAT
BY
ITSELF
MAY
NOT
BE
SUFFICIENT
TO
SUSTAIN
AN
ASSESSMENT
ORDER
IN
EVERY
CASE
WITHOUT
SOMETHING
MOREv
CIT V Mahesh Chand
4AXMAN
)42
!LL
iv
7HERE
THE
CIRCUMSTANCES
AS
ALSO
THE
LEGAL
POSITION
HAVE
CHANGED
IN
SUBSEQUENT
YEAR
THE
EARLIER
DECISION
CAN
NOT
OPERATE
AS
res
judicata -
CIT V Surji Devi Kunji Lal Jaipuria
4AXMAN
)42
!LL
v
4HE
!PPELLATE
4RIBUNAL
NORMALLY
SHOULD
NOT
DEPART
FROM
ITS
EARLIER
VERDICT
OR
OTHER
4RIBUNAL
TO
MAINTAIN
UNIFORM
CON-
STRUCTION
OF
THE
!CT
IN
ALL
THE
3TATES
IN
THE
INTEREST
OF
JUDICIAL
DISCIPLINE
(OWEVER
IF
THERE
IS
MORE
EVIDENCE
OR
FACTS
ARE
NOT
EXACTLY
THE
SAME
A
DIFFERENT
VIEW
CAN
BE
TAKEN
CIT V Brij Lal Lohia & Mahabir Prasad Khemka
)42
3#
f
2EFERENCE
MAY
BE
MADE
TO
THE
UNDERNOTED
CASE
STUDIES
i
#ASE
3TUDY
.O
"
3URVEY
h%STIMATESv
FOUND
AND
IM-
POUNDED
ii
#ASE
3TUDY
.O
#
3URVEY
)MPACT
ON
EARLIER
YEARS
3.1.8 NOTICE
a
!
.OTICE
UNDER
ANY
PROVISION
OF
LAW
EMANATES
FROM
ELEMENTARY
PRINCIPLE
OF
LAW
THAT
HEARING
OPPORTUNITY
SHOULD
BE
GIVEN
BEFORE
CAUSING
ANY
PREJUDICE
TO
A
PERSON
0LEASE
ALSO
REFER
TO
SERVICE
OF
NOTICE
&OR
EXAMPLE
IT
IS
JUST
AND
FAIR
THAT
RECOVERY
PROCEEDINGS
ARE
NOT
LAUNCHED
AGAINST
ANY
ASSESSEE
UNLESS
HE
IS
SERVED
WITH
NOTICE
OF
DEMAND
b
&AILURE
TO
COMPLY
WITH
NOTICE
MAY
RESULT
IN
SEVERAL
ADVERSE
CONSE-
QUENCES
AS
LAID
DOWN
IN
THE
!CT
4HESE
ARE
DISCUSSED
AT
APPROPRIATE
PLACES
WITH
REFERENCE
TO
DIFFERENT
TYPES
OF
NOTICE
Para 3.1.8 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 132
h%ACH
YEAR
IS
DISTINCT
UNIT
YEAR
AND
ANY
MISTAKES
OR
ERRORS
COMMITTED
IN
ONE
ASSESSMENT
YEAR
CANNOT
BE
DIRECTED
TO
BE
REPEATED
IN
THE
NEXT
YEAR
EITHER
ON
THE
GROUND
OF
ESTOPPEL
OR
ON
THE
GROUND
OF
res judicatav
K. Sadasiva Krishnarao V CIT
4AXMAN
)42
!0
iii
h)T
IS
TRUE
THAT
THE
PAST
HISTORY
MIGHT
BE
LEGITIMATE
MATERIAL
BUT
THAT
BY
ITSELF
MAY
NOT
BE
SUFFICIENT
TO
SUSTAIN
AN
ASSESSMENT
ORDER
IN
EVERY
CASE
WITHOUT
SOMETHING
MOREv
CIT V Mahesh Chand
4AXMAN
)42
!LL
iv
7HERE
THE
CIRCUMSTANCES
AS
ALSO
THE
LEGAL
POSITION
HAVE
CHANGED
IN
SUBSEQUENT
YEAR
THE
EARLIER
DECISION
CAN
NOT
OPERATE
AS
res
judicata -
CIT V Surji Devi Kunji Lal Jaipuria
4AXMAN
)42
!LL
v
4HE
!PPELLATE
4RIBUNAL
NORMALLY
SHOULD
NOT
DEPART
FROM
ITS
EARLIER
VERDICT
OR
OTHER
4RIBUNAL
TO
MAINTAIN
UNIFORM
CON-
STRUCTION
OF
THE
!CT
IN
ALL
THE
3TATES
IN
THE
INTEREST
OF
JUDICIAL
DISCIPLINE
(OWEVER
IF
THERE
IS
MORE
EVIDENCE
OR
FACTS
ARE
NOT
EXACTLY
THE
SAME
A
DIFFERENT
VIEW
CAN
BE
TAKEN
CIT V Brij Lal Lohia & Mahabir Prasad Khemka
)42
3#
f
2EFERENCE
MAY
BE
MADE
TO
THE
UNDERNOTED
CASE
STUDIES
i
#ASE
3TUDY
.O
"
3URVEY
h%STIMATESv
FOUND
AND
IM-
POUNDED
ii
#ASE
3TUDY
.O
#
3URVEY
)MPACT
ON
EARLIER
YEARS
3.1.8 NOTICE
a
!
.OTICE
UNDER
ANY
PROVISION
OF
LAW
EMANATES
FROM
ELEMENTARY
PRINCIPLE
OF
LAW
THAT
HEARING
OPPORTUNITY
SHOULD
BE
GIVEN
BEFORE
CAUSING
ANY
PREJUDICE
TO
A
PERSON
0LEASE
ALSO
REFER
TO
SERVICE
OF
NOTICE
&OR
EXAMPLE
IT
IS
JUST
AND
FAIR
THAT
RECOVERY
PROCEEDINGS
ARE
NOT
LAUNCHED
AGAINST
ANY
ASSESSEE
UNLESS
HE
IS
SERVED
WITH
NOTICE
OF
DEMAND
b
&AILURE
TO
COMPLY
WITH
NOTICE
MAY
RESULT
IN
SEVERAL
ADVERSE
CONSE-
QUENCES
AS
LAID
DOWN
IN
THE
!CT
4HESE
ARE
DISCUSSED
AT
APPROPRIATE
PLACES
WITH
REFERENCE
TO
DIFFERENT
TYPES
OF
NOTICE
Para 3.1.8 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 132
c
)4
$EPARTMENT
CAN
SERVE
NOTICE
TO
AN
ASSESSEE
BASED
ON
THE
FOLLOWING
INSTANCES
i
$ISCREPANCY
IN
RETURN
FILED
BY
THE
ASSESSEE
ii
-ISMATCH
IN
4$3
AMOUNT
iii
4AX
2ETURN
NOT
FILED
iv
)NVESTMENT
IN
THE
NAME
OF
SPOUSE
OR
OTHER
RELATIVE
v
(IGH
VALUE
TRANSACTIONS
vi
2EVIEW
THE
DOCUMENT
BASED
ON
WHICH
THE
RETURN
WAS
FILED
vii
2ANDOM
3CRUTINY
d
!
.OTICE
ISSUED
BY
AN
)NCOME
4AX
AUTHORITY
UNDER
A
WRONG
PROVISION
OF
LAW
MAY
BE
UPHELD
UNDER
ANOTHER
PROVISION
OF
LAW
UNDER
WHICH
SUCH
ACTION
COULD
HAVE
HAVEN
APPROPRIATELY
TAKEN
4HIS
PRINCIPLE
LAID
DOWN
BY
SEVERAL
DECISIONS
STAND
ENACTED
IN
SEC
"
INSERTED
WEF
e
Section 282A
‹
4HIS
SECTION
PROVIDES
THAT
NOTICE
OR
OTHER
DOCUMENTS
TO
BE
ISSUED
BY
)NCOME
4AX
!UTHORITY
SHALL
BE
i
3IGNED
AND
ISSUED
IN
PAPER
FORM
OR
ii
#OMMUNICATED
IN
ELECTRONIC
FORM
BY
THE
!UTHORITY
‹
4HE
NOTICE
OR
OTHER
DOCUMENT
SERVED
OR
ISSUED
SHALL
BE
DEEMED
TO
BE
AUTHENTICATED
IF
THE
NAME
AND
OFFICE
OF
A
DESIGNATED
)NCOME
4AX
!UTHORITY
IS
PRINTED
STAMPED
OR
OTHERWISE
WRITTEN
THEREON
f
Section 292BB
Notice deemed to be valid in certain circumstances.
‹
4HE
DEPARTMENT
FACED
A
BIG
PROBLEM
THAT
ASSESSEE
USED
TO
GO
AND
ATTEND
THE
PROCEEDINGS
INITIATED
BY
ASSESSING
AUTHORITY
THROUGH
ANY
NOTICE
WHICH
WERE
TIME
BARED
‹
4HE
ASSESSEE
USED
TO
BRING
SUCH
DEFECT
TO
THE
NOTICE
OF
!/
AFTER
WASTING
MUCH
TIME
OF
!/
‹
4O
AVOID
SUCH
SITUATION
THE
!CT
HAS
BEEN
AMENDED
AND
A
NEW
SECTION
""
HAS
BEEN
INSERTED
‹
3ECTION
""
CREATES
A
DEEMING
FICTION
TO
MAKE
NOTICE
ISSUED
BY
)NCOME
4AX
!UTHORITY
TO
BE
VALID
IE
THE
ASSESSEE
IF
HE
HAS
APPEARED
BEFORE
!/
IN
ANY
PROCEEDINGS
THEN
HE
CAN
NOT
TAKE
ANY
OF
THE
FOLLOWING
STANDS
THAT
.OTICE
WAS
NOT
SERVED
UPON
HIM
OR
133 $)6
!33%33-%.4 Para 3.1.8
)4
$EPARTMENT
CAN
SERVE
NOTICE
TO
AN
ASSESSEE
BASED
ON
THE
FOLLOWING
INSTANCES
i
$ISCREPANCY
IN
RETURN
FILED
BY
THE
ASSESSEE
ii
-ISMATCH
IN
4$3
AMOUNT
iii
4AX
2ETURN
NOT
FILED
iv
)NVESTMENT
IN
THE
NAME
OF
SPOUSE
OR
OTHER
RELATIVE
v
(IGH
VALUE
TRANSACTIONS
vi
2EVIEW
THE
DOCUMENT
BASED
ON
WHICH
THE
RETURN
WAS
FILED
vii
2ANDOM
3CRUTINY
d
!
.OTICE
ISSUED
BY
AN
)NCOME
4AX
AUTHORITY
UNDER
A
WRONG
PROVISION
OF
LAW
MAY
BE
UPHELD
UNDER
ANOTHER
PROVISION
OF
LAW
UNDER
WHICH
SUCH
ACTION
COULD
HAVE
HAVEN
APPROPRIATELY
TAKEN
4HIS
PRINCIPLE
LAID
DOWN
BY
SEVERAL
DECISIONS
STAND
ENACTED
IN
SEC
"
INSERTED
WEF
e
Section 282A
‹
4HIS
SECTION
PROVIDES
THAT
NOTICE
OR
OTHER
DOCUMENTS
TO
BE
ISSUED
BY
)NCOME
4AX
!UTHORITY
SHALL
BE
i
3IGNED
AND
ISSUED
IN
PAPER
FORM
OR
ii
#OMMUNICATED
IN
ELECTRONIC
FORM
BY
THE
!UTHORITY
‹
4HE
NOTICE
OR
OTHER
DOCUMENT
SERVED
OR
ISSUED
SHALL
BE
DEEMED
TO
BE
AUTHENTICATED
IF
THE
NAME
AND
OFFICE
OF
A
DESIGNATED
)NCOME
4AX
!UTHORITY
IS
PRINTED
STAMPED
OR
OTHERWISE
WRITTEN
THEREON
f
Section 292BB
Notice deemed to be valid in certain circumstances.
‹
4HE
DEPARTMENT
FACED
A
BIG
PROBLEM
THAT
ASSESSEE
USED
TO
GO
AND
ATTEND
THE
PROCEEDINGS
INITIATED
BY
ASSESSING
AUTHORITY
THROUGH
ANY
NOTICE
WHICH
WERE
TIME
BARED
‹
4HE
ASSESSEE
USED
TO
BRING
SUCH
DEFECT
TO
THE
NOTICE
OF
!/
AFTER
WASTING
MUCH
TIME
OF
!/
‹
4O
AVOID
SUCH
SITUATION
THE
!CT
HAS
BEEN
AMENDED
AND
A
NEW
SECTION
""
HAS
BEEN
INSERTED
‹
3ECTION
""
CREATES
A
DEEMING
FICTION
TO
MAKE
NOTICE
ISSUED
BY
)NCOME
4AX
!UTHORITY
TO
BE
VALID
IE
THE
ASSESSEE
IF
HE
HAS
APPEARED
BEFORE
!/
IN
ANY
PROCEEDINGS
THEN
HE
CAN
NOT
TAKE
ANY
OF
THE
FOLLOWING
STANDS
THAT
.OTICE
WAS
NOT
SERVED
UPON
HIM
OR
133 $)6
!33%33-%.4 Para 3.1.8
.OTICE
WAS
NOT
SERVED
UPON
HIM
IN
TIME
OR
.OTICE
WAS
NOT
SERVED
UPON
HIM
IN
A
PROPER
MANNER
g
7ITH
RESPECT
TO
THE
RADICAL
CHANGES
INTRODUCED
THROUGH
4AXATION
AND
/THER
,AWS
2ELAXATION
AND
!MENDMENT
OF
#ERTAIN
0ROVISIONS
!CT
&INANCE
!CT
AND
VARIOUS
OTHER
NOTIFICATIONS
THE
WHOLE
REGIME
OF
!SSESSMENTS
HAS
BEEN
COVERED
UNDER
THE
&ACELESS
!SSESSMENT
INCLUDING
SERVICE
OF
NOTICES
h
(ENCEFORTH
THE
NOTICES
USS
!
ETC
ALONG
WITH
PENALTY
NOTICES
WILL
BE
ISSUED
BY
THE
0RESCRIBED
)NCOME
4AX
!UTHORITY
DESIGNATED
AT
THE
.ATIONAL
&ACELESS
!SSESSMENT
#ENTRE
IN
A
CENTRALISED
MANNER
i
&OR
PROFORMA
OF
.OTICE
AND
COMPLIANCE
PLEASE
REFER
$IVISION
3.1.9 SERVICE OF NOTICE
a
3ERVICE
OF
A
NOTICE
MEANS
DELIVERING
OR
HANDING
OVER
THE
NOTICE
TO
THE
RIGHT
PERSON
CONCERNED
AT
THE
RIGHT
ADDRESS
3ECS
AND
DEALS
WITH
SERVICE
OF
NOTICE
0ROVISIONS
OF
#IVIL
0ROCEDURE
#ODE
ARE
ALSO
APPLICABLE
b
0ROPER
ISSUANCE
OF
A
VALID
NOTICE
AND
VALID
SERVICE
OF
NOTICE
ARE
IMPORTANT
FOR
ASSUMING
JURISDICTION
TO
ASSESS
TO
RECOVER
TAX
TO
LEVY
PENALTY
ETC
ISSUANCE
OF
VARIOUS
STATUTORY
NOTICES
IS
NOT
AN
EMPTY
FORMALITY
)SSUE
OF
A
VALID
NOTICE
AND
ITS
VALID
SERVICE
ARE
sine qua
non
FOR
SUSTAINING
ANY
ASSESSMENT
OR
REASSESSMENT
PENALTY
OR
ORDER
US
c
)T
IS
FOR
THE
DEPARTMENT
TO
PROVE
VALID
SERVICE
OF
NOTICE
)T
HAS
ALSO
TO
PROVE
THE
DATE
OF
SERVICE
4HE
PRESUMPTION
THAT
ALL
THE
OFFICIAL
ACTS
WERE
DULY
PERFORMED
CANNOT
BE
AVAILED
FOR
PROVING
VALID
SERVICE
OF
NOTICE
Rasiklal Amritlal Doshi V A Nundy
)42
"OM
d
!
NOTICE
PROVIDED
IN
THE
!CT
IS
NOT
A
MATTER
OF
MERE
FORMALITY
BUT
IT
FORMS
THE
VERY
FOUNDATION
OF
ANY
PROCEEDING
UNDER
THE
!CT
BY
WHICH
AN
ASSESSEE
IS
SOUGHT
TO
BE
PUT
TO
A
FINANCIAL
BURDEN
!BSENCE
OF
A
PROPER
NOTICE
HAS
BEEN
HELD
TO
VITIATE
THE
SUBSEQUENT
PROCEEDINGS
IN
THE
FOLLOWING
CASES
CIT V Har Parshad
)42
4AXMAN
0(
x
REF
3EC
ITO V Manmohanlal
4AXMAN
)42
/RI
x
REF
3EC
Para 3.1.9 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 134
WAS
NOT
SERVED
UPON
HIM
IN
TIME
OR
.OTICE
WAS
NOT
SERVED
UPON
HIM
IN
A
PROPER
MANNER
g
7ITH
RESPECT
TO
THE
RADICAL
CHANGES
INTRODUCED
THROUGH
4AXATION
AND
/THER
,AWS
2ELAXATION
AND
!MENDMENT
OF
#ERTAIN
0ROVISIONS
!CT
&INANCE
!CT
AND
VARIOUS
OTHER
NOTIFICATIONS
THE
WHOLE
REGIME
OF
!SSESSMENTS
HAS
BEEN
COVERED
UNDER
THE
&ACELESS
!SSESSMENT
INCLUDING
SERVICE
OF
NOTICES
h
(ENCEFORTH
THE
NOTICES
USS
!
ETC
ALONG
WITH
PENALTY
NOTICES
WILL
BE
ISSUED
BY
THE
0RESCRIBED
)NCOME
4AX
!UTHORITY
DESIGNATED
AT
THE
.ATIONAL
&ACELESS
!SSESSMENT
#ENTRE
IN
A
CENTRALISED
MANNER
i
&OR
PROFORMA
OF
.OTICE
AND
COMPLIANCE
PLEASE
REFER
$IVISION
3.1.9 SERVICE OF NOTICE
a
3ERVICE
OF
A
NOTICE
MEANS
DELIVERING
OR
HANDING
OVER
THE
NOTICE
TO
THE
RIGHT
PERSON
CONCERNED
AT
THE
RIGHT
ADDRESS
3ECS
AND
DEALS
WITH
SERVICE
OF
NOTICE
0ROVISIONS
OF
#IVIL
0ROCEDURE
#ODE
ARE
ALSO
APPLICABLE
b
0ROPER
ISSUANCE
OF
A
VALID
NOTICE
AND
VALID
SERVICE
OF
NOTICE
ARE
IMPORTANT
FOR
ASSUMING
JURISDICTION
TO
ASSESS
TO
RECOVER
TAX
TO
LEVY
PENALTY
ETC
ISSUANCE
OF
VARIOUS
STATUTORY
NOTICES
IS
NOT
AN
EMPTY
FORMALITY
)SSUE
OF
A
VALID
NOTICE
AND
ITS
VALID
SERVICE
ARE
sine qua
non
FOR
SUSTAINING
ANY
ASSESSMENT
OR
REASSESSMENT
PENALTY
OR
ORDER
US
c
)T
IS
FOR
THE
DEPARTMENT
TO
PROVE
VALID
SERVICE
OF
NOTICE
)T
HAS
ALSO
TO
PROVE
THE
DATE
OF
SERVICE
4HE
PRESUMPTION
THAT
ALL
THE
OFFICIAL
ACTS
WERE
DULY
PERFORMED
CANNOT
BE
AVAILED
FOR
PROVING
VALID
SERVICE
OF
NOTICE
Rasiklal Amritlal Doshi V A Nundy
)42
"OM
d
!
NOTICE
PROVIDED
IN
THE
!CT
IS
NOT
A
MATTER
OF
MERE
FORMALITY
BUT
IT
FORMS
THE
VERY
FOUNDATION
OF
ANY
PROCEEDING
UNDER
THE
!CT
BY
WHICH
AN
ASSESSEE
IS
SOUGHT
TO
BE
PUT
TO
A
FINANCIAL
BURDEN
!BSENCE
OF
A
PROPER
NOTICE
HAS
BEEN
HELD
TO
VITIATE
THE
SUBSEQUENT
PROCEEDINGS
IN
THE
FOLLOWING
CASES
CIT V Har Parshad
)42
4AXMAN
0(
x
REF
3EC
ITO V Manmohanlal
4AXMAN
)42
/RI
x
REF
3EC
Para 3.1.9 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 134
e
Section 282 SUBSTITUTED
BY
&INANCE
.O
!CT
WEF
‹
4HE
SECTION
USED
TO
COVER
THE
FOLLOWING
MODES
FOR
SERVICE
OF
NOTICES
i
"Y
2EGISTERED
!$
0OST
ii
0ERSONAL
3ERVICE
iii
"Y
!DVERTISEMENT
IN
.EWSPAPER
iv
"Y
AFFIXATION
WITHOUT
ORDER
OF
COURT
v
"Y
SUBSTITUTED
SERVICE
BY
ORDER
OF
COURT
vi
"Y
#OURIER
SERVICES
APPROVED
BY
"OARD
vii
"Y
ELECTRONIC
MAIL
viii
"Y
ELECTRONIC
MAIL
MESSENGER
ix
"Y
ANY
OTHER
MEANS
AS
PROVIDED
BY
RULES
MADE
BY
THE
"OARD
f
2EFUSAL
TO
RECEIVE
NOTICE
BY
2EGISTERED
0OST
IS
PRESUMED
TO
HAVE
BEEN
SERVED
(OWEVER
WHERE
THE
PERSON
IS
NOT
FOUND
AT
THE
ADDRESS
IT
CANNOT
BE
SAID
THAT
HE
HAS
REFUSED
)F
THE
2EGISTERED
,ETTER
IS
NOT
PROPERLY
ADDRESSED
THE
SAME
CANNOT
BE
PRESUMED
TO
HAVE
BEEN
SERVED
!
NOTICE
SENT
UNDER
#ERTIFICATE
OF
0OSTING
50#
WOULD
NOT
AMOUNT
TO
PROPER
SERVICE
M.L. Narang V CIT
1981
4AXMAN
)42
$ELHI .
!
NOTICE
BY
WAY
OF
TELEGRAM
CANNOT
BE
SAID
TO
BE
A
SUBSTITUTE
FOR
NOTICE
BY
POST
CIT V Sattamdas Mohandas Sidhi
4AXMAN
)42
-0
g
Manner of personal service
2ULES
TO
OF
/RDER
OF
#IVIL
0ROCEDURE
#ODE
i
4HE
PERSON
CONCERNED
ii
!UTHORIZED
AGENT
OF
THE
PERSON
IF
HE
IS
AUTHORIZED
TO
RECEIVE
NOTICE
iii
-ANAGER
OF
BUSINESS
OF
THE
PERSON
iv
!NY
ADULT
MEMBER
OF
FAMILY
OF
THE
PERSON
RESIDING
WITH
THAT
PERSON
if THE
PERSON
IS
NOT
FOUND
AT
HIS
RESIDENCE
and
HE
IS
NOT
LIKELY
TO
BE
FOUND
WITHIN
REASONABLE
TIME
and
HE
HAS
NO
OTHER
AUTHORIZED
AGENT
TO
RECEIVE
THE
NOTICE
135 $)6
!33%33-%.4 Para 3.1.9
Section 282 SUBSTITUTED
BY
&INANCE
.O
!CT
WEF
‹
4HE
SECTION
USED
TO
COVER
THE
FOLLOWING
MODES
FOR
SERVICE
OF
NOTICES
i
"Y
2EGISTERED
!$
0OST
ii
0ERSONAL
3ERVICE
iii
"Y
!DVERTISEMENT
IN
.EWSPAPER
iv
"Y
AFFIXATION
WITHOUT
ORDER
OF
COURT
v
"Y
SUBSTITUTED
SERVICE
BY
ORDER
OF
COURT
vi
"Y
#OURIER
SERVICES
APPROVED
BY
"OARD
vii
"Y
ELECTRONIC
viii
"Y
ELECTRONIC
MESSENGER
ix
"Y
ANY
OTHER
MEANS
AS
PROVIDED
BY
RULES
MADE
BY
THE
"OARD
f
2EFUSAL
TO
RECEIVE
NOTICE
BY
2EGISTERED
0OST
IS
PRESUMED
TO
HAVE
BEEN
SERVED
(OWEVER
WHERE
THE
PERSON
IS
NOT
FOUND
AT
THE
ADDRESS
IT
CANNOT
BE
SAID
THAT
HE
HAS
REFUSED
)F
THE
2EGISTERED
,ETTER
IS
NOT
PROPERLY
ADDRESSED
THE
SAME
CANNOT
BE
PRESUMED
TO
HAVE
BEEN
SERVED
!
NOTICE
SENT
UNDER
#ERTIFICATE
OF
0OSTING
50#
WOULD
NOT
AMOUNT
TO
PROPER
SERVICE
M.L. Narang V CIT
1981
4AXMAN
)42
$ELHI .
!
NOTICE
BY
WAY
OF
TELEGRAM
CANNOT
BE
SAID
TO
BE
A
SUBSTITUTE
FOR
NOTICE
BY
POST
CIT V Sattamdas Mohandas Sidhi
4AXMAN
)42
-0
g
Manner of personal service
2ULES
TO
OF
/RDER
OF
#IVIL
0ROCEDURE
#ODE
i
4HE
PERSON
CONCERNED
ii
!UTHORIZED
AGENT
OF
THE
PERSON
IF
HE
IS
AUTHORIZED
TO
RECEIVE
NOTICE
iii
-ANAGER
OF
BUSINESS
OF
THE
PERSON
iv
!NY
ADULT
MEMBER
OF
FAMILY
OF
THE
PERSON
RESIDING
WITH
THAT
PERSON
if THE
PERSON
IS
NOT
FOUND
AT
HIS
RESIDENCE
and
HE
IS
NOT
LIKELY
TO
BE
FOUND
WITHIN
REASONABLE
TIME
and
HE
HAS
NO
OTHER
AUTHORIZED
AGENT
TO
RECEIVE
THE
NOTICE
135 $)6
!33%33-%.4 Para 3.1.9
h
Service by Affixation of Notice
i
4HIS
IS
NOT
A
NORMAL
MODE
OF
SERVICE
!FTER
EXHAUSTING
ALL
OTHER
MODES
OF
SERVICE
THIS
EXCEPTIONAL
MODE
CAN
BE
INVOKED
ii
!S
PER
#IVIL
0ROCEDURE
#ODE
A
COPY
OF
NOTICE
CAN
BE
AFFIXED
OUTSIDE
ON
THE
DOOR
OR
SOME
OTHER
CONSPICUOUS
PART
OF
THE
PREMISES
OF
THE
PERSON
IN
THE
FOLLOWING
CIRCUMSTANCES
‹
)F
THE
PERSON
HIS
AUTHORIZED
AGENT
OR
FAMILY
MEMBER
REFUSES
TO
RECEIVE
THE
NOTICE
‹
)F
THE
PERSON
CANNOT
BE
FOUND
AT
HIS
GIVEN
ADDRESS
AND
HE
IS
NOT
LIKELY
TO
BE
FOUND
WITHIN
A
REASONABLE
TIME
AND
THERE
IS
NO
AUTHORIZED
AGENT
FOR
THE
PURPOSE
iii
!FTER
AFFIXATION
OF
NOTICE
THE
SERVING
OFFICER
IS
REQUIRED
TO
MAKE
AN
AFFIDAVIT
STATING
THE
DETAILS
OF
SUCH
AFFIXATION
iv
3UBSTITUTED
SERVICE
BY
ORDER
OF
THE
COURT
/RDER
2ULE
OF
THE
#0#
7HERE
THE
COURT
IS
SATISFIED
THAT
THE
DEFENDANT
IS
KEEPING
OUT
THE
WAY
FOR
THE
PURPOSE
OF
AVOIDING
SERVICE
OR
FOR
ANY
OTHER
REASON
THE
SUMMONS
CANNOT
BE
SERVED
IN
THE
ORDINARY
WAY
THE
COURT
SHALL
ORDER
THE
SUMMONS
TO
BE
SERVED
BY
AFFIXTURE
i
3ERVICE
ON
VARIOUS
CATEGORIES
OF
ASSESSEES
Category Who can receive ?
0ARTNERSHIP
&IRM !NY
PARTNER
2ECONSTITUTED
&IRM !NY
PARTNER
OF
THE
NEW
FIRM
$ISSOLVED
&IRM !NY
PARTNER
OF
THE
DISSOLVED
FIRM
(5& !NY
ADULT
MEMBER
INCLUDING
A
LADY
$ISRUPTED
(5& %RSTWHILE
+ARTA
OR
IF
+ARTA
IS
DEAD
THEN
ALL
THE
ADULT
MEMBERS
OF
THE
ERSTWHILE
(5&
!/0
!NY
MEMBER
OR
ITS
PRINCIPAL
OFFICER
$ISSOLVED
!/0 !NY
MEMBER
OF
THE
ASSOCIATION
IMMEDIATELY
BEFORE
DISSOLUTION
4RUST !NY
4RUSTEE
)NDIVIDUAL4HE
PERSON
CONCERNED
HIS
AGENT
AUTHORISED
FOR
THIS
PURPOSE
MANAGER
IN
HIS
BUSINESS
OR
ANY
ADULT
MEMBER
OF
HIS
FAMILY
$EAD
0ERSON .OTICE
ISSUED
IN
THE
NAME
OF
A
DEAD
PERSON
IS
INVALID
)N
SUCH
CASE
NOTICE
SHOULD
BE
ADDRESSED
TO
AND
SERVED
UPON
LEGAL
HEIR
OF
THE
DECEASED
Para 3.1.9 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 136
Service by Affixation of Notice
i
4HIS
IS
NOT
A
NORMAL
MODE
OF
SERVICE
!FTER
EXHAUSTING
ALL
OTHER
MODES
OF
SERVICE
THIS
EXCEPTIONAL
MODE
CAN
BE
INVOKED
ii
!S
PER
#IVIL
0ROCEDURE
#ODE
A
COPY
OF
NOTICE
CAN
BE
AFFIXED
OUTSIDE
ON
THE
DOOR
OR
SOME
OTHER
CONSPICUOUS
PART
OF
THE
PREMISES
OF
THE
PERSON
IN
THE
FOLLOWING
CIRCUMSTANCES
‹
)F
THE
PERSON
HIS
AUTHORIZED
AGENT
OR
FAMILY
MEMBER
REFUSES
TO
RECEIVE
THE
NOTICE
‹
)F
THE
PERSON
CANNOT
BE
FOUND
AT
HIS
GIVEN
ADDRESS
AND
HE
IS
NOT
LIKELY
TO
BE
FOUND
WITHIN
A
REASONABLE
TIME
AND
THERE
IS
NO
AUTHORIZED
AGENT
FOR
THE
PURPOSE
iii
!FTER
AFFIXATION
OF
NOTICE
THE
SERVING
OFFICER
IS
REQUIRED
TO
MAKE
AN
AFFIDAVIT
STATING
THE
DETAILS
OF
SUCH
AFFIXATION
iv
3UBSTITUTED
SERVICE
BY
ORDER
OF
THE
COURT
/RDER
2ULE
OF
THE
#0#
7HERE
THE
COURT
IS
SATISFIED
THAT
THE
DEFENDANT
IS
KEEPING
OUT
THE
WAY
FOR
THE
PURPOSE
OF
AVOIDING
SERVICE
OR
FOR
ANY
OTHER
REASON
THE
SUMMONS
CANNOT
BE
SERVED
IN
THE
ORDINARY
WAY
THE
COURT
SHALL
ORDER
THE
SUMMONS
TO
BE
SERVED
BY
AFFIXTURE
i
3ERVICE
ON
VARIOUS
CATEGORIES
OF
ASSESSEES
Category Who can receive ?
0ARTNERSHIP
&IRM !NY
PARTNER
2ECONSTITUTED
&IRM !NY
PARTNER
OF
THE
NEW
FIRM
$ISSOLVED
&IRM !NY
PARTNER
OF
THE
DISSOLVED
FIRM
(5& !NY
ADULT
MEMBER
INCLUDING
A
LADY
$ISRUPTED
(5& %RSTWHILE
+ARTA
OR
IF
+ARTA
IS
DEAD
THEN
ALL
THE
ADULT
MEMBERS
OF
THE
ERSTWHILE
(5&
!/0
!NY
MEMBER
OR
ITS
PRINCIPAL
OFFICER
$ISSOLVED
!/0 !NY
MEMBER
OF
THE
ASSOCIATION
IMMEDIATELY
BEFORE
DISSOLUTION
4RUST !NY
4RUSTEE
)NDIVIDUAL4HE
PERSON
CONCERNED
HIS
AGENT
AUTHORISED
FOR
THIS
PURPOSE
MANAGER
IN
HIS
BUSINESS
OR
ANY
ADULT
MEMBER
OF
HIS
FAMILY
$EAD
0ERSON .OTICE
ISSUED
IN
THE
NAME
OF
A
DEAD
PERSON
IS
INVALID
)N
SUCH
CASE
NOTICE
SHOULD
BE
ADDRESSED
TO
AND
SERVED
UPON
LEGAL
HEIR
OF
THE
DECEASED
Para 3.1.9 "//+
/.%
,!7
2%,!4).'
4/
4!8
02/#%$52%3 136
ORDER NOW
TAX PRACTICE
MANUAL
Rs. 4395 | USD 106
Author : GABHAWALA & GABHAWALA
Publisher: TAXMANN
Edition : 7th Edition
ISBN No.: 9789390831098
Date of Publication: July 2021
No. oF Pages: 2140
Description:
Tax Practice Manual is an exhaustive (2,100+ pages), amended (by
the Finance Act, 2021) & practical guide (330+ case studies) for Tax
Professionals.
This book will be helpful for the Chartered Accountants,
Lawyers/Advocates, Tax Practitioners to assist them in their
day-to-day tax works.
This book is divided into two parts:
Law Relating to Tax Procedures (covering 25+ topics)
Case Studies (covering 35+ topics)
TAX PRACTICE
MANUAL
Rs. 4395 | USD 106
Author : GABHAWALA & GABHAWALA
Publisher: TAXMANN
Edition : 7th Edition
ISBN No.: 9789390831098
Date of Publication: July 2021
No. oF Pages: 2140
Description:
Tax Practice Manual is an exhaustive (2,100+ pages), amended (by
the Finance Act, 2021) & practical guide (330+ case studies) for Tax
Professionals.
This book will be helpful for the Chartered Accountants,
Lawyers/Advocates, Tax Practitioners to assist them in their
day-to-day tax works.
This book is divided into two parts:
Law Relating to Tax Procedures (covering 25+ topics)
Case Studies (covering 35+ topics)
Download
Download Slideshow Get the original presentation fileQuick Actions
Statistics
- Views 1,257
- Slides 66
- Age 1613 days
Related Slideshows
22
FM I Chapter 3: Time Value of Money .ppt
belaywube
34 views
40
Financial Management I Chapter Three.pdf
belaywube
32 views
![Md. Sirajuddwla Vs. The State and Ors. [2016] 1LNJ(HCD)177.](https://slidepub.com/thumb/2184/284012184.jpg)
9
Md. Sirajuddwla Vs. The State and Ors. [2016] 1LNJ(HCD)177.
SMAlamgirHossain3
32 views
26
business finance-2nd quarter week 1.pptx
DianaPingol2
32 views
37
bank-reconciliation-2-240226133520-7f66bb8a.pptx
NaizeJann
30 views
25
Create_a_Portfolio_Website_Showcasing_Projects_Skills_and_Contact_Info_Presentation.pdf.pdf
AluminicompSRESCoeKo
31 views