Income tax Act 1961

27th Aug, 2013

Assessing Officers are empowered to call for general particulars in the nature of survey to check evasion of tax effectively.

What is the nature of enquiry within the meaning of Section 133(6) of the Income Tax Act, 1961 was the question that arose for consideration before the Apex Court.
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31st Jul, 2013

The Tax paid by an employer directly to the Income Tax Authorities on behalf of an employee would not be added to the income of the employee

Issues originating from a situation where non-resident assesses during the course of their employment by foreign companies were enjoying various perquisites
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19th Jul, 2013

A Special Law will prevail over a General Law, more so,when the Special Law contains a non-obstante clause.

 Provisions of Section 32 of the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) shall prevail, except to the extent excluded, over those of the Income Tax Act.
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17th Jul, 2013

Purpose for which shares are purchased is insignificant to determine applicability of Section 14A of the Income Tax Act, 1961

Section 14A Income Tax Act, 1961 provides for the assessment of income not forming part of the total income.
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24th May, 2013

Tax Liability in reference to ESOP for an Expatriate Employee

Tax liability in reference to ESOP requisite in the case of an expatriate employee would be in proportion to length of his service rendered
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