Year: 2009

Core Principles of Reassessment with Important Case Laws

The author has conducted pain-staking research to identify the core principles of law on which reopening of assessments under sections 147 & 148 of the Income-tax Act are based. He has also sorted through the plethora of case law to identify the important ones that cannot be missed. This ready-referencer will prove invaluable to a busy practitioner looking for a judgement on a point.

Are Derivatives really speculative transactions?

Are Derivatives really speculative transactions? CA Anant N. Pai The author argues that the judgement of the Special Bench in Shree Capital Services requires reconsideration. He argues that there is an inconsistency in the Tribunal’s finding that a derivative is

Section 56 [2][vii] and Limited Liability Partnership: New Controversies!

The author uses strong logic to make two controversial arguments. One, that the amount taxed under the new s. 56 [2][vii] can be treated as cost of asset acquired in computation of business income and second, that the conversion of a firm into a LLP under the Limited Liability Partnership Act 2008 does not attract capital gains liability.

Beliefs, Prophecies and War

What causes War and bloodshed in the name of GOD? The author explores the fascinating connection between religious beliefs and the causes of eternal human conflict. He uses Palestine – the place where three religions converge – as a case study to explain his thesis on why it has become the focal point of a global war.

Global Economic Scenario – Role of Tax Professionals

The Learned Judge laments that the Income-tax Act is a “national disgrace”. He says that it is unfortunate that the law is so complex that even practising Lawyers and Judges have to employ
Chartered Accountants or tax experts to file their income tax returns. He uses his vast experience to provide several suggestions on how the law can be made simple, concise and effective.

Pakistan – The Global Terrorism Monster!

Pakistan – The Global Terrorism Monster! CA Anant N. Pai ‘Indian’ The author minces no words in demanding that with the imminent conversion of Pakistan into ‘Talibanistan’ and its growth into a global terrorism monster, India must exercise the right

Special Leave Petitions: The complete law

Special Leave Petitions: The complete law Ajay R. Singh & Sujeeth S. Karkal Advocates When a SLP is dismissed, what is the consequence? Is the impugned judgement “affirmed” by the Supreme Court and, therefore, the law of the land? Or

Treatise on the law of Real Estate Development Contracts

In this threadbare analysis of the law on real estate development contracts, the authors have, apart from referring to every conceivable problem and a plethora of important case laws, lashed out at the CBDT for its’ dereliction of duty in failing to notify even Dharavi for purposes of s. 80-IB (10). The authors have made out a strong case for filing a PIL against the lethargy of the Board.

Tax Professionals’ role in the economic turmoil

The Learned Judge presents his unique perspective on the economic turmoil that has gripped the globe and suggests solutions from a tax perspective to resolve the crises. He especially advises chartered accountants to be strict in accounting and not be mere hirelings of certain businessmen, be men of honour and refuse to do wrong things merely because they can earn some money thereby

Family Settlements and tax planning

The author deals with the ever – popular topic of tax planning in the context of family arrangements. He warns that while in a genuine settlement, tax avoidance comes merely as a providential or fortuitous side effect, if one targets family settlement as a tax saving device that may cast a cloud on the bona fides of the whole transaction and may be regarded as a subterfuge to hoodwink the revenue

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