AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

Step 1 – Issue Identification & Review

The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required

Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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Receipt under the anti abuse provision includes allotment of shares, so allotment can attract tax consequences on acquisition.

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....The Tribunal upheld that the anti abuse provision concerning receipt of shares applies to allotment as well as receipt, rejecting the argument that shares must pre exist to attract tax. Applying a wide interpretation of 'receipt', the Tribunal followed precedent holding that shares come into existence on allotment and acquisition by allotment constitutes receipt for tax purposes; consequently the appellant's challenge to the addition under the anti abuse provision was dismissed and the assessment upheld.....

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Receipt under the anti abuse provision includes allotment of shares, so allotment can attract tax consequences on acquisition.