Articles by FCS Deepak Pratap Singh
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Persons entitled to payment under an insurance policy
The insurance provides us short range as well as long range relief. The short-term relief is aimed at protecting the assured from loss of property and life. The long-term object being industrial and economical growth of country and the society.
Relief under double taxation avoidance agreement
The Income Tax Act, 1961 provides for taxation of a certain income earned in India by Mr. X a non-resident. The DTAA, which applied to Mr. X provides for taxation of such income in the country of his residence. Examine, is Mr. X is liable to pay tax on such income earned by him in India?.
Transfer of property for less than stamp duty value - Some implications
Sections Involved: 43CA, 50C & 56(2)(x) of Income Tax Act, 1961. Sale /Transfer of land or building on consideration less than Stamp Duty Value
Writ jurisdiction of high court against repudiation of life insurance claim
The Hight Courts and the Apex Court of India has given vide power of supervisory role and to hear and decide cases based on some specific criteria. These courts generally do not interfere the normal proceedings of Quasi-Judicial Authorities and Tribunals or other forums.
Procedure of filing a delayed refund claim
In case of TDS/TCS for claiming refund you have to file your return of income within due date as prescribed under provisions of Section 139 of the IT Act, 1961....
Liability of directors of private company in liquidation
In this article we are going to discuss important aspects of provisions of section 179 of the Income Tax Act, 1961.
Some facts related to a cover note or interim receipt under insurance
The object of "Cover Note or Interim receipt" is to afford interim protection to the assured pending he decision of the insurance company to finally accept or reject the proposal for insurance.
Gift received from HUF is a capital receipt in the hand of member
On appeal the Tribunal held that the property of the 'HUF' neither can be said to belong to a third person nor can be said to be in 'corporate entity', rather, the same is the property of the members of the family.
Whether assessing officer has power to reject valuation report submitted by assessee and change method of valuation?
The Tribunal further held that primary onus to prove the correctness of the valuation report is on the assessee as he has special knowledge and he is privy to the facts of the company and only he has opted for this method
Consequence of non-filing of appeal in respect of cases where the tax effect is less than the prescribed monetary limit
As you are aware that the Commissioner may, of he objects to any order passed by the Commissioner (Appeal) under Section 154 or Section 250, direct the Assessing Officer to appeal to the Tribunal against the said order. However, such direction shall be given only in those cases only in those cases where Tax Effect exceeds the specified amount.
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