Faceless assessment and registration procedures are updated through electronic communication, revised recovery rules, extended deadlines, and replacem...
Risk-based selective vessel boarding requires accurate declarations and preserves master and agent liability where physical inspections are not select...
Permanent-establishment reassessment cannot revisit scrutinised disclosures; extended reopening fails without undisclosed material facts and within st...
Enhanced tax on unexplained income under section 115BBE, and the linked penalty under section 271AAC, are explained as prospective only where the amendment contains no express retrospective language. The text states that the law in force on the first day of the relevant year governs assessment, and a later fiscal amendment cannot alter completed tax consequences by implication. It further notes that section 271AAC is dependent on valid application of section 115BBE, and that doubling the principal tax rate is a substantive and onerous change. On that basis, the enhanced rate was treated as applicable from 01.04.2017, not to Financial Year 2016-17.
Enhanced tax on unexplained income under section 115BBE, and the linked penalty under section 271AAC, are explained as prospective only where the amendment contains no express retrospective language. The text states that the law in force on the first day of the relevant year governs assessment, and a later fiscal amendment cannot alter completed tax consequences by implication. It further notes that section 271AAC is dependent on valid application of section 115BBE, and that doubling the principal tax rate is a substantive and onerous change. On that basis, the enhanced rate was treated as applicable from 01.04.2017, not to Financial Year 2016-17.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
