Complete Guide To Reassessment u/s 148
- Year of Publication: 2021
- Edition: 2nd
- ISBN: 978-93-90854-91-2
- No.of Pages: 649
The present edition of the book in the aftermath of COVID-19 which has taken the world by storm since the beginning of the year 2020 deals with the storm in the Tax world that has been created by the major amendment in the manner of Reassessment under the Income-tax Act, 1961, with effect from 1st April, 2021. The entire legal fraternity is now dealing with the interpretation of the statute in the light of the amendments so made and the notices for reassessment which have been issued after 1st April, 2021 for the Assessment Years 2012-13 onwards under the old Reassessment law, which was in existence till 31st March 2021 and replaced by a new law which has come into force from 1st April, 2021 which seeks to do away with the concept of reasons recorded in writing, full and true disclosure and change of opinion - the three pillars on which the entire jurisprudence of reassessment law was based since the Calcutta Discount case reported in (1961) 41 ITR 191 (SC). The present edition deals with the old reassessment law as well as new law and the utility of the judgments pronounced in the context of old law in relation to the provisions that have now come into force. A separate Chapter has been included as “COVID-19 and Reassessment” which deals with the ordinance, notifications and circulars which had been issued in the backdrop of COVID-19 and the probable arguments that the assessee and the department is likely to take to defend themselves while dealing with the notices for AY 2012-13 onwards.
Ramesh Patodia is a commerce graduate from St. Xavier’s College, Kolkata and a qualified Chartered Accountant in practice for over 35 years. Ramesh has been in continuous practice mainly in Corporate Consultancy and Litigations in the field of Direct & Indirect tax laws, Regulatory laws and Commercial laws. He has handled wide variety of consulting matters of large corporates and multi-national corporations in the field of mergers & acquisitions, corporate restructuring, strategising & planning of foreign investments across sectors, domestic and international taxation.
Litigation has been his favourite area of practice and he has advised corporates and multinational corporations in the field of direct tax, indirect taxes, FERA/FEMA & FDI laws, SEBI laws, RBI laws across segments. Ramesh has travelled extensively in India and abroad in connection with his litigation practice and has represented widely before the various appellate authorities viz. CESTAT, ITAT, Appellate Tribunal for Foreign Exchange and other forums. During his long tenure of practice, Ramesh had the privilege to work and interact with legal luminaries throughout the country in connection with various litigations across Courts in India including Supreme Court and in UK.
Ramesh is a regular speaker at various professional forums and is a regular contributor of articles in the professional publications on variety of topics. Ramesh has to his credit several publications, namely, (a) Incentive for Power, Telecom and Infrastructure Sectors - A commentary on Section 80-IA of the Income Tax Act, 1961, (b) Commentary on Hindu Undivided Family (Co- authored with Late Senior Advocate N M Ranka), (c) Direct Tax Vivad Se Vishwas Act, 2020.
Ramesh is also the Co-Chairman of Direct Tax Sub-committee of Assocham. On a personal front, he is a person of benevolence and spends his personal time in assisting to the cause of society by serving underprivileged section of the society as Trustee of Shree Rani Sati ji Mandir, Jhunjhunu and of Gayatri Foundation, Kolkata and actively participates in several social welfare activities too on various platforms.
Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.
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- Year of Publication: 2021
- Edition: 2nd
- ISBN: 978-93-90854-91-2
- No.of Pages: 649
The present edition of the book in the aftermath of COVID-19 which has taken the world by storm since the beginning of the year 2020 deals with the storm in the Tax world that has been created by the major amendment in the manner of Reassessment under the Income-tax Act, 1961, with effect from 1st April, 2021. The entire legal fraternity is now dealing with the interpretation of the statute in the light of the amendments so made and the notices for reassessment which have been issued after 1st April, 2021 for the Assessment Years 2012-13 onwards under the old Reassessment law, which was in existence till 31st March 2021 and replaced by a new law which has come into force from 1st April, 2021 which seeks to do away with the concept of reasons recorded in writing, full and true disclosure and change of opinion - the three pillars on which the entire jurisprudence of reassessment law was based since the Calcutta Discount case reported in (1961) 41 ITR 191 (SC). The present edition deals with the old reassessment law as well as new law and the utility of the judgments pronounced in the context of old law in relation to the provisions that have now come into force. A separate Chapter has been included as “COVID-19 and Reassessment” which deals with the ordinance, notifications and circulars which had been issued in the backdrop of COVID-19 and the probable arguments that the assessee and the department is likely to take to defend themselves while dealing with the notices for AY 2012-13 onwards.
Ramesh Patodia is a commerce graduate from St. Xavier’s College, Kolkata and a qualified Chartered Accountant in practice for over 35 years. Ramesh has been in continuous practice mainly in Corporate Consultancy and Litigations in the field of Direct & Indirect tax laws, Regulatory laws and Commercial laws. He has handled wide variety of consulting matters of large corporates and multi-national corporations in the field of mergers & acquisitions, corporate restructuring, strategising & planning of foreign investments across sectors, domestic and international taxation.
Litigation has been his favourite area of practice and he has advised corporates and multinational corporations in the field of direct tax, indirect taxes, FERA/FEMA & FDI laws, SEBI laws, RBI laws across segments. Ramesh has travelled extensively in India and abroad in connection with his litigation practice and has represented widely before the various appellate authorities viz. CESTAT, ITAT, Appellate Tribunal for Foreign Exchange and other forums. During his long tenure of practice, Ramesh had the privilege to work and interact with legal luminaries throughout the country in connection with various litigations across Courts in India including Supreme Court and in UK.
Ramesh is a regular speaker at various professional forums and is a regular contributor of articles in the professional publications on variety of topics. Ramesh has to his credit several publications, namely, (a) Incentive for Power, Telecom and Infrastructure Sectors - A commentary on Section 80-IA of the Income Tax Act, 1961, (b) Commentary on Hindu Undivided Family (Co- authored with Late Senior Advocate N M Ranka), (c) Direct Tax Vivad Se Vishwas Act, 2020.
Ramesh is also the Co-Chairman of Direct Tax Sub-committee of Assocham. On a personal front, he is a person of benevolence and spends his personal time in assisting to the cause of society by serving underprivileged section of the society as Trustee of Shree Rani Sati ji Mandir, Jhunjhunu and of Gayatri Foundation, Kolkata and actively participates in several social welfare activities too on various platforms.
Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.
