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Description
There is enormous case-law on direct taxes. The department, ITAT, High Courts and the Supreme Court are all flooded by appeals and reference applications. The hierarchy of the judicial system provides the Supreme Court judgments to be the law of the land. Not only does it finally settle the conflicting and diverging opinions of the High Courts but very often interprets the statutory provisions in an authoritative and crystal clear manner.
This book digests the wisdom of the judicial pronouncements of the Supreme Court on the Income-tax Act, 1961; the Wealth-tax Act, 1957 and the Gift-tax Act, 1958 and the Rules. The Full Bench decisions of the High Courts and selected foreign case-law have also been digested. Case-law on obsolete and redundant provisions has been avoided. The entire matter has been presented in a novel manner to facilitate a reference not only sectionwise but also, if need be, subjectwise. While the case-law has been arranged sectionwise with easy-to-catch headings, the detailed Subjectwise Referencer at the end of each volume will help the readers to simultaneously refer the digest subjectwise as well.
An attempt has been made to present the ratio decidendi in a systematic and methodical manner highlighting all the relevant points. An understanding of the issues involved is made easy by first giving a brief head-note followed by the facts, the controversy at large and then the decision of the apex court. Wherever the case-law is numerous under a particular section, to make it user-friendly, the headings have been arranged under a Synopsis to enable the reader to obtain a bird's eye-view of the digested cases. The judicial review, at the end of the case, is a pointer to the case under appeal, the cases followed and even at times, mentions the cases where a particular Supreme Court decision has been followed.
It is hoped that this set will be found useful by the Income-tax Department, ITAT, the judiciary, advocates, practitioners, chartered accountants, corporate executives and the like.
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Contents
Volume 1
Division I - Income Tax
Chapter I - Preliminary
Chapter II - Basis of Charge
Chapter III - Incomes which do not form part of total income
Chapter IV - Computation of Total Income
Chapter V - Income of other persons, included in assessee’s total income
Volume 2
Chapter VI - Aggregation of income and set off or carry forward of loss
Chapter VIA - Deductions to be made in computing total income
Chapter VII - Incomes forming part of total income on which no income-tax is payable
Chapter VIII - Rebate and relief’s
Chapter X - Special Provisions relating to avoidance of tax
Chapter XI - Additional income-tax on undistributed profits
Chapter XIII - Income-tax authorities
Chapter XIV - Procedure for Assessment
Chapter XV - Liability in special cases
Chapter XVI - Special Provisions applicable to firms
Chapter XVII - Collection and Recovery of Tax
Chapter XIX - Refunds
Chapter XIXA - Settlement of cases
Chapter XX - Appeals and Revision
Chapter XXA - Acquisition of immovable properties in certain cases of
transfer to counteract evasion of tax
Chapter XXC - Purchase by central Government of immovable properties in
certain cases of transfer
Chapter XXI - Penalties imposable
Chapter XXII - Offences and Prosecutions
Chapter XXIIA - Annuity deposits
Chapter XXIIB - Tax credit certificates
Chapter XXII - Miscellaneous
Division IA - Income Tax Rules, 1962
Division II - Wealth Tax
Chapter I - Preliminary
Chapter II - Charge of wealth-tax and assets subject to such charge
Chapter IV - Assessment
Chapter V - Liability to assessment in special cases
Chapter VI - Appeals, Revisions and References
Division III - Gift Tax
Chapter I - Preliminary
Chapter II - Charge of gift-tax and gift subject to such charge
Chapter VI - Appeals, revisions and references
Division IV - Voluntary disclosure scheme
Subjectwise Referencer
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