Search and seizure: abatement of earlier search bars use of prior seized material in later search-based assessments; relief limited to new documents f...
Admission of additional evidence under remand rules must await a meaningful remand report; failure to do so breaches natural justice and mandates rema...
Export Obligation Discharge Certificates for EPCG compliance cannot be questioned by Customs unless DGFT adjudicates and cancels them, so demands quas...
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Issue concerns tax treatment of employer payments to an insurer for a future annuity structured for the employee. The article applies the principle that perquisite taxation requires the employee to have a vested, due or enforceable right; contingent or non vested future entitlements are not taxable in the year of employer contribution. It reasons that taxing the employer's payment when the employee has no enforceable right would duplicate taxation because annuity instalments are later taxed on receipt or accrual. Outcome: employer contribution should not be taxed in the contribution year to avoid impermissible double taxation.
Issue concerns tax treatment of employer payments to an insurer for a future annuity structured for the employee. The article applies the principle that perquisite taxation requires the employee to have a vested, due or enforceable right; contingent or non vested future entitlements are not taxable in the year of employer contribution. It reasons that taxing the employer's payment when the employee has no enforceable right would duplicate taxation because annuity instalments are later taxed on receipt or accrual. Outcome: employer contribution should not be taxed in the contribution year to avoid impermissible double taxation.
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