Agricultural Income

-Nidhi Kumari, CNLU INTRODUCTION Sec 2(7) of Income Tax Act defined “assessee” as  means a person by whom any tax  or any other sum of money is payable under this Act, and includes—(a) every person in respect of whom any proceeding under this Act has been taken for the assessment of his income or … [Read more...]

The Need for GAAR

By Saachi Kanjani & Isha Maniar "Editor's Note: There has been extensive debate about the implementation of General Anti-Avoidance Rules (GAAR) across different jurisdictions. The need for GAAR is felt because it is believed that such provisions will improve the integrity of the taxation system … [Read more...]

Impact of Finance Act, 2014 – CSR

Sanchit Srivastava, Dr. Ram Manohar Lohiya National Law University Editor’s note: Corporate social responsibility rests on the theory that since a company utilizes the resources offered by nature and society for its benefit it should act as a trustee towards ensuring the welfare of nature and … [Read more...]

Case Commentary – Coffee Board v. Commissioner of Commercial Tax

Udita Saraf, National Law University Orissa Editor’s note: This case deals with the extent and scope the expression ‘sale’. The question of law is whether mandatory sale to the board warrants taxes or is under the course of import and thus exempt from all taxes under A.286 of the Constitution. … [Read more...]

Resident Rule in India

By Shivani Gupta, HNLU Raipur   Editor's Note: This paper attempts to explain one of the most important concepts in tax law in India - the resident rule. The first question that comes up is - What is this rule? Suffice to know that merely changing the residential status of a taxpayer may … [Read more...]