The Central Board of Direct Taxes (CBDT) came out with a circular prescribing guidelines on when prosecution can be initiated by the tax officers for financial offences. The circular largely eliminates the possibility of the tax officers hauling up taxpayers for petty / minor offences and aims to ensure that only the deserving cases get prosecuted. Rahul Jain , Partner contributed an article on CBDT circular comes as relief for minor offences for Financial Express.

Not filing your income tax returns can lead to prosecution, even if you are entitled to a refund. In a recent decision, the Delhi High Court (HC) held the prosecution proceeding stands committed upon non-filing of income tax return within the prescribed due date under section 139 (1) of the Income-Tax Act.

Maintaining that a tax exemption notification should be interpreted strictly, the Supreme Court recently ruled that it was for the assessee to show that his case fell within the parameters of the exemption clause or exemption notification and he can’t claim the benefit of ambiguity in such notification.  The benefit of doubt will go to the tax authorities.

Rahul Jain, Partner with inputs from Mansi Chopra, Manager contributed an article on Tightening the screws on tax exemption for Hindu Business Line