his category focuses on tax laws and disputes, including core principles of assessment, compliance, and judicial interpretation under relevant tax frameworks viz Income Tax and GST.
Articles in this section draw from my experience in legal research and dispute-oriented analysis. I cover statutory provisions, interpretative issues, procedural remedies, and key judicial developments impacting taxpayers, professionals, and businesses.
I. Introduction The power of the State to reopen concluded assessments and tax income that may have escaped the original assessment is one of the most potent and, consequently, one of the most contested aspects of the Income Tax Act, 1961. Sections 147, 148, 148A, 149, 150, and 151 of the Act collectively form the … Read more
Introduction A legislative enactment which provides for the imposition of a tax may make provisions for: The levy of the tax on the basis of a taxable event; The measure of the tax; The rate at which the tax will be imposed; The incidence of the tax; and Assessment, collection, recovery and other incidental provisions. … Read more
when there is a dispute between the customs authorities and the importer as regards the valuation of the imported goods, on satisfaction of the conditions enumerated in sub-section (1), the authorities should make provisional assessment of customs duty under Section 18 of the Act. This expedites clearance, pending final adjudication on merits which may take time. This is also the mandate of the Board Circular No.38/2016 dated 22nd August, 2016. Any insistence and compulsion by the authorities that the importer should disclaim and forgo his statutory right under Section 18 of the Act would not be correct. Neither would it be right to reject the valuation as declared by the importer without reasonable doubt for certain reasons.