CA DEV KUMAR KOTHARI B.com,Grad.CMA,ACS,FCA. AND CA UMA KOTHARI BA(H), B.muse ,ACMA, ACS,FCA,IP 42 years and 39 years respectively post qualification experience.Expertise in taxation, corporate , mercantile, propery , and general laws. We prefer consultancy and guidance work through review of documents from preliminary stage, interim and final drafting of documents, guidance for preparation for petitions, returns, assessments, appeals, petitions, and re- presentation.Other professionals or executive of client can perform field work departmentally. We extensively use phones,email, tele-conference etc. to discuss and meet mentally. We rarely require physical meeting for work so we can work for clients any where. Please do not contact for audit and attestation matters.
Showing 1 to 20 of 35 Results
Issue Id: 120907
Dear learned authors, readers, Kindly share your views about manner of computation of 'tax effect' in case of appeals under customs ...
Read Full Issue Customs - Exim - SEZ
Issue Id: 120608
A trader or investor has entered into agreement with builder and promoter for purchase of some units in a complex or building Construction and ...
Read Full Issue Goods and Services Tax - GST
Issue Id: 120606
General whether, GST should be charged on gross price or actual price charged, after deducting discount allowed - discount may be for reasons like ...
Read Full Issue Goods and Services Tax - GST
Issue Id: 117773
During online deposit of TDS mistakenly TAN was wrongly entered by deductor/ depositor say A.Although name of wrong TAN holder (say B) appeared but ...
Read Full Issue Other Topics
Issue Id: 116983
When we log into my account, we get a message about last log in, if there is any.My query is as follows:Whether we can know :a. various dates of ...
Read Full Issue Other Topics
Issue Id: 115999
In section 2.22A of IT Act, and also in various Finance Act / Bill for example recent Finance Bill 2020 also we find meaning / definition of domestic ...
Read Full Issue Income Tax
Issue Id: 2005
For brain storming: Does the A.O. has jurisdiction and power to treat a 'capital asset' as stock-in-trade? In my view -no. Every property is a ...
Read Full Issue Income Tax
Issue Id: 1782
194C- exemption on furnishing of PAN is only to payment made to contractor in course of specified business and not in all cases. It seems that there ...
Read Full Issue Income Tax
Issue Id: 1741
HONORARIUM VIS A VIS PROFESSIONAL FEES -REVISED ISSUE TO SEEK MORE VIEWS Fees is for services renderd on request and authorization by the client. It ...
Read Full Issue Income Tax
Issue Id: 1711
Proviso to S.40a(ia)- 'any subsequent year' vis a vis year in which tax is paid- see the likely controversy: Provided that where in respect of any ...
Read Full Issue Income Tax
Issue Id: 1691
'professional fees', 'technical fees' are different from honorarium. Fees is for services renderd on request and authorization by the client. It is ...
Read Full Issue Income Tax
Issue Id: 1688
Many small business persons have been shocked by disallowance u/s 40 (a)((ia). The tax was not deducted, as in past, the payees ahve no taxable ...
Read Full Issue Income Tax
Issue Id: 1663
Amways- their dealers/ agents or franchisee are reselling goods on Amway and get profit margin as dealer woul dget depending on volumes generated by ...
Read Full Issue Service Tax
Issue Id: 1606
Whether Section 50C, can correspondingly be applied in hands of buyer of property, and an addition can be amde u/s 69, 69A or 69B or 69C. some A.O. ...
Read Full Issue Income Tax
Issue Id: 1584
Service tax notifications are issued at Delhi and they are applicable all over India. The issuign authority is GOI or Board. If a notification is ...
Read Full Issue Service Tax
Issue Id: 1583
One of essential condition for levy of service tax is that there should be a sperivce provided by one person and the service should be received / ...
Read Full Issue Service Tax
Issue Id: 1582
From Income-tax Act 1961 Definitions. 2. In this Act, unless the context otherwise requires,— xxxx [(12A) "books or books of account" includes ...
Read Full Issue Income Tax
Issue Id: 1581
Jewellery, silver utensils used in business of providing them on rent can be considered as 'plant' eligible for depreciaiton. In such business they ...
Read Full Issue Income Tax
Issue Id: 1580
Any organized activity carried in a systematic manner is regarded as a business activity.Income earned from any business operation in different ...
Read Full Issue Income Tax
Issue Id: 1546
Relevant provisions: Indian Constitution, I.T.Act, I.T.Rules in relation to agricultural income. Whether, any provision which has effect of amending ...
Read Full Issue Income Tax
316 Replies on 255 Issues
Issue Id: 120925
Dear Experts, An assessee filed revision u/s 264 during the period available for filing appeal before CIT(A) and without waiving the statutory ...
Read Full Issue Income Tax
Issue Id: 120907
Dear learned authors, readers, Kindly share your views about manner of computation of 'tax effect' in case of appeals under customs ...
Read Full Issue Customs - Exim - SEZ
Issue Id: 120876
Respected Sir My one of the client is Charitable Trust, who has registered u/s. 12A and also approved u/s.80G of the Income tax Act, 1961 and also ...
Read Full Issue Income Tax
Issue Id: 120608
A trader or investor has entered into agreement with builder and promoter for purchase of some units in a complex or building Construction and ...
Read Full Issue Goods and Services Tax - GST
Issue Id: 120606
General whether, GST should be charged on gross price or actual price charged, after deducting discount allowed - discount may be for reasons like ...
Read Full Issue Goods and Services Tax - GST
Issue Id: 117892
One tax payer filed ITR-3 claiming gross receipts under Income from Profession because the employer deducted TDS u/s 194J . However, the letter of ...
Read Full Issue Service Tax
Issue Id: 116535
I would like the experts and professional to kindly clarify, if a company has multiple offices / godown in a state, then what would be the ...
Read Full Issue Other Topics
Issue Id: 116465
Dear All, I want to know that whether tax is levied on recipient of gift from relative in India with effect from Finance Act, 2019.?? I heard ...
Read Full Issue Income Tax
Issue Id: 116087
Sir, What is the meaning of an income tax amendment coming into force with effect from 1 st April 2020 i.e.fy 2020-2021 or ay 2020-2021 ? and an ...
Read Full Issue Income Tax
Issue Id: 116072
Dear Experts, Please refer Circular No.17/2019 dated 8th August 2019 issued by Central Board Direct Taxes, Judicial Section to enhance Monetary ...
Read Full Issue Income Tax
Issue Id: 116026
I am co coapplicant for a housing loan with my mother, but the property is on her name.Can I claim HRA for the property as rented out to me.
Income Tax
Issue Id: 116020
PAN card has been obtained in the name xyz & others. PAN no. is AAEAS0219C.It is an AOP where shares are determined. AOP has rental and ...
Read Full Issue Income Tax
Issue Id: 115999
In section 2.22A of IT Act, and also in various Finance Act / Bill for example recent Finance Bill 2020 also we find meaning / definition of domestic ...
Read Full Issue Income Tax
Issue Id: 115945
This is query regarding Capital Gains on Sale of Reverse Mortgaged Property to settle the loan. The Reverse Mortgage connected with Insurance Company ...
Read Full Issue Income Tax
Issue Id: 115823
HiI am working at XXX. I have resigned and my last day here is 31st Dec 2019. I have submitted PPF and HRA receipts to employer, they have approved ...
Read Full Issue Income Tax
Issue Id: 115740
I've done expenses such as fencing, lighting, and various other expenses amounting to say ₹ 3 lac all in raw cash? is any disallowance or ...
Read Full Issue Income Tax
Issue Id: 111290
Dear Sir please guide me weather the following work is exempted or taxable under service tax act:01. Cutting and removing guatamala for plantating ...
Read Full Issue Service Tax
Issue Id: 106394
The facts of the case are as Follows: Assessee was alloted a plot on 15/06/1999 Initial money paid Rs.1400000 Installments Paid on different ...
Read Full Issue Income Tax
Issue Id: 106366
DEAR EXPERT If we are maintaIn Books of Account as per Income Tax Act section 44AA and our Books profit Show less Than 8 percent can audit ...
Read Full Issue Income Tax
Issue Id: 106361
Hello, Service Tax regime has changed w.e.f. July 2012. Under the new regime, all the services are covered other than those mentioned in the ...
Read Full Issue Service Tax
Showing 1 to 20 of 1177 Results
Last-minute valuation references cannot artificially extend assessment limitation where no bona fide valuation purpose is demonstrated.
Last-minute references to a District Valuation Officer under Section 142A, made immediately before assessment limitation under Section 153 expires, may be a colourable exercise where no bona fide valuation requirement exists. Valuation of fixed assets may not be relevant where the actual issue concerns the allowability of depreciation based on ownership or business use. A valid valuation reference requires independent application of mind, cogent material, recorded reasons, and satisfaction of statutory conditions. Timely valuation action is necessary to prevent artificial extension of assessment proceedings. (AI Summary)
Other Topics
Lower and nil TDS certificates require adherence to binding precedent, treaty analysis, changed facts, and timely administration.
Section 197 permits lower or nil tax-deduction certificates where the recipient's total income and applicable domestic law or tax treaty justify that treatment. The officer must apply binding precedent on the same issue and cannot refuse relief merely because the revenue may challenge that precedent. Reconsideration in later years may arise only on materially changed facts, such as a permanent establishment or taxable Indian transactions, after notice and recorded findings. Recipients must make full disclosures and cooperate with enquiries. Administrative systems should enable timely implementation of the applicable legal position without unnecessary fresh applications. (AI Summary)
Income Tax
Recorded satisfaction in the latest assessment order is essential before cash loan or repayment penalties may be initiated.
Penalties for cash acceptance or repayment transactions require recorded satisfaction in the latest operative assessment order that the relevant statutory prohibition has been violated and that penalty action is contemplated. Where an earlier assessment is set aside or annulled, satisfaction recorded in that assessment does not survive as the basis for penalty. A fresh, revised, reassessment, or de novo assessment must independently record the requisite satisfaction. Separate penalty proceedings do not dispense with this jurisdictional requirement. (AI Summary)
Income Tax
Delayed tax payment distinguished from non-payment, preventing automatic penalties and worsening liability after appellate remedies are pursued.
Delayed deposit of Foreign Travel Tax is distinguishable from failure to pay where tax is remitted before a show-cause notice, even if deposited after the prescribed date. The statutory scheme separately imposes interest for delayed payment, while the penalty provision addresses failure to pay. Interest levied or paid for delay is treated as supporting an extended payment period. The prohibition of reformatio in peius prevents an appellant from being placed in a worse position merely for using an appeal or revision remedy. (AI Summary)
Income Tax
AEOI reporting in Form 26AS requires clarification on retrospective timelines, calendar-year coverage, and alignment with financial-year returns.
CBDT authorisation permits uploading AEOI information received under agreements covered by sections 90 and 90A into the Annual Information Statement in Form 26AS. Information for calendar years 2022 to 2024 held on 8 July 2026 is subject to a ninety-day upload period, while 2025 information is to be uploaded within ninety days from the end of its month of receipt. The commentary highlights uncertainty for pre-authorisation 2025 data, calendar-year reporting, and the absence of an express timeline for information from 1 January 2026. (AI Summary)
Income Tax
Section 264 revision cannot substitute for a revised return where a tolerance claim was omitted from self-assessment.
Section 264 revision cannot be used after expiry of the revised-return period to introduce a tolerance benefit omitted from a self-assessed return processed under section 143(1). The competing issue is whether binding appellate precedent requiring a tolerance benefit must be followed by revenue authorities, including in revisionary proceedings and intimation processing. The analysis questions whether revisionary correction remains available where self-assessed income exceeds tax legally payable and whether subsequent legal developments or clarificatory tolerance amendments warrant consideration. (AI Summary)
Income Tax
National Litigation Policy exceptions must be raised before lower forums; later reliance cannot sustain further appellate review.
National Litigation Policy monetary thresholds restrict departmental appeals where the revenue involved falls below the prescribed limit, subject to policy exceptions. The CESTAT treated the Revenue's appeal as non-maintainable because the tax effect was below the applicable threshold, and the High Court found no substantial question of law. A policy exception relied upon for the first time in a Special Leave Petition, without having been raised before the High Court, did not warrant further consideration. Revenue authorities should screen appeals for threshold compliance, plead any applicable exception at the earliest stage, and avoid routine delay or unnecessary continuation of low-tax-effect litigation. (AI Summary)
Other Topics
Income tax return filing deadline extension is urged because weather disruptions and portal failures impede compliant filing.
Extension of the statutory due date for filing non-audit income-tax returns is advocated because severe weather conditions have disrupted electricity, internet access and timely return preparation. Electronic filing depends on access to portal records, reconciliation of tax information and uploading of returns, but slow or unavailable portal services, failed page access, corrupted or missing saved data, and unreliable connectivity are stated to impede compliance. Lengthy return forms, extensive disclosures, accounting-software difficulties and time-consuming uploads are identified as further reasons for extending the filing deadline. (AI Summary)
Income Tax
Judicial record accessibility requires consistent case indexing, integrated search tools, timely uploads, and transparent counting of pending proceedings.
Judicial record accessibility requires each proceeding to be retrievable through every assigned case identifier, party name, date, bench-related search criteria and free-text search. Searches based on different identifiers, judgment dates, judge names and free text may produce incomplete results or omit relevant orders, while case-status records may contain those same materials. Integrated linking between case-status, order and judgment databases, timely indexing, and transparent pendency-counting criteria are needed to ensure reliable access to judicial records and to distinguish principal proceedings from ancillary applications. (AI Summary)
Other Topics
Fair market value baseline reform would better align long-term capital gains with inflation and replacement costs.
Fair market value baseline reform is urged for long-term capital gains computation by replacing 1 April 2001 with 1 April 2025 as the date from which taxpayers may elect fair market value as cost of acquisition for pre-cutoff capital assets. The proposal is based on the view that cost inflation index increases capture only part of actual inflation and do not adequately support replacement of long-held assets. Periodic index updates are also proposed to align capital gains computation with inflation. (AI Summary)
Income Tax
Covered tax appeals require stricter merit review, streamlined withdrawal procedures, and accountability for avoidable public litigation expenditure.
Government tax litigation is criticised where a delayed special leave petition is pursued despite the issue being covered by an earlier precedent and concurrent appellate orders favour the taxpayer. The concern focuses on counsel's assessment of merits, avoidable judicial pendency, and public expenditure arising from multiple advocates in covered appeals. Withdrawal of covered or low-tax-effect appeals through written applications and delegated administrative decision-making is proposed to reduce unnecessary litigation. (AI Summary)
Other Topics
HUF property ownership requires evidence beyond a PAN entry, demanding inquiry into purchaser capacity, investment source, and appellate procedure.
Misquotation of an HUF PAN in property-purchase records may initiate reassessment, but PAN reference alone does not establish that the property or investment belongs to the HUF. Determination of ownership requires examination of the purchaser's capacity, purchase documentation, patta, encumbrance records, and the accounts of both the HUF and its Karta. The article also raises concerns over additional evidence at the appellate stage, the need for opportunity to the Assessing Officer, and correct identification of the assessee where an HUF assessment is pursued but an individual legal heir is named in appeal proceedings. (AI Summary)
Income Tax
Overriding clauses under the Income-tax Act, 2025 may require fresh interpretation after replacing "notwithstanding" with "irrespective of".
The Income-tax Act, 2025 uses "irrespective of" in place of "notwithstanding" in provisions corresponding to overriding clauses under the Income-tax Act, 1961. "Notwithstanding" is an established device for creating exceptions and giving a provision overriding effect over competing provisions. Although "irrespective of" may communicate a similar sense, its legal operation must be determined from the provision's wording, context, statutory setting, and purpose. The terminology shift may require fresh interpretation of the intended exception or overriding effect. (AI Summary)
Income Tax
Exempt-income expense disallowance requires revenue-efficacy review to reduce disproportionate compliance costs and recurring tax litigation.
Section 14A disallows expenditure related to income excluded from total income and permits prescribed computation where the Assessing Officer is dissatisfied with the assessee's accounts-based claim. Rule 8D provides for direct expenditure and a prescribed investment-based amount, subject to a cap of total expenditure claimed. The commentary identifies ambiguity, extensive litigation, and potentially disproportionate compliance costs where exempt income is incidental or economically offset by lower returns or alternative taxation. It proposes evaluating revenue efficacy and either omitting or narrowly confining the disallowance mechanism. (AI Summary)
Income Tax
Periodic rent revision in commercial leases can reduce landlord disputes by aligning contractual rent with prevailing market conditions.
Landlords may face prolonged rent non-revision, delayed fair-rent fixation, and burdensome procedures for recovering rent deposited before rent-control authorities. For private premises leased to Central Government departments, rent reasonableness assessment may use recognised valuation principles and prevailing market rent, with due consideration of the lease deed and prescribed fair-rent assessment material. The commentary favours commercial leases with periodic, market-linked rent revision and contractual flexibility over rent-control arrangements. (AI Summary)
Other Topics
Taxpayer cooperation in assessments requires timely evidence, show-cause replies, and appellate participation to prevent adverse factual inferences.
Taxpayer cooperation in assessment and appeal proceedings requires prompt replies to show-cause notices, production of supporting evidence, disclosure of material facts, and requests for cross-examination where necessary. The article uses the Jajodia Finance proceedings to illustrate the consequences of failing to respond to a notice on a claimed share-trading loss and failing to participate before the first appellate authority. It recommends placing additional evidence before the appellate authority with reasons for earlier non-production, seeking comments from the assessing officer, challenging adverse factual findings where appropriate, and requesting remand for fresh consideration when relevant material has not been examined. (AI Summary)
Income Tax
CASS limited scrutiny restricts assessment and bars later revisionary expansion beyond the authorised inquiry scope after assessment completion.
CASS-based limited scrutiny confines assessment inquiry to the identified and communicated risk issues. Expansion of that inquiry requires prior approval of the competent supervisory authority before assessment is completed. The article maintains that the original or duly enhanced scope binds the Assessing Officer and cannot be broadened through revisionary jurisdiction after completion of assessment. It further presents appellate enhancement and reassessment beyond the authorised CASS scope as impermissible, and notes that revision also requires independent establishment of an erroneous assessment order and prejudice to revenue. (AI Summary)
Income Tax
Tribunal order search accessibility requires assessee-name retrieval, timely case-status updates, and organised electronic notices for effective legal research.
The case-status search facility permits searches by appeal number, filing date, assessee name and acknowledgement number, and may link to an order where one has been passed. It is considered more comprehensive than the separate order-search facility because it allows assessee-name and partial-name searches. Order searches remain available by appeal number, order date, pronouncement date and member name. Reintroduction of assessee-name searching for orders, together with bench-wise organisation and timely updating of notices, cause lists, case status and orders, is proposed to improve website usability. (AI Summary)
Income Tax
Party names in legal titles should exclude addresses and c/o details, which belong only in the prescribed address field.
Name and address of an appellant or respondent should be kept in separate fields: the cause title must contain only the party's name, while the complete correspondence address belongs in the prescribed address slot. The article says that adding "c/o" details, chartered accountants, advocates, law chambers or consultancy organisations to the party name is incorrect, can create complications if addresses change, and unnecessarily lengthens reported case names. It also states that such representative details, if needed, should be confined to the address field. (AI Summary)
Income Tax
Long-term capital gains claims on penny stocks saw interference declined where documents and banking records supported the assessee.
The note compiles Supreme Court orders on alleged bogus long-term capital gains from penny stock transactions, stating that where claims were supported by documents, banking entries and DP transactions, interference was generally declined despite departmental investigation material and statements. It also records dismissals of special leave petitions on merits or delay, as well as some Revenue withdrawals and tagged matters without available orders. (AI Summary)
Income Tax
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07 May 2026 
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