We are presenting the fourth book, now a Set of Two Volumes, on the Practice Specific Income Tax Issues with Authoritative Solutions. The first one released in 2010 included practice specific issues emerging from out of the case law reported during the period 2005 to 2009 (Five years). The second one released in 2011 incorporated all those issues plus new issues emerging from out of the case law reported in 2010 as well. The third one released in January 2013 included issues that arose out of the case laws reported during the period 2011 to 2013. The Volume I of this Set comprises Issues emanating from Landmark Case Law reported during November 2012 to February 2015 thereby eliminating any overlap with the preceding 2013 Edition. The Volume II comprises Issues emanating from the Case Law reported during subsequent period being from March 2015 to October 2015.
Income tax law is one of the most scientifically written laws in this country and is the most dynamic as well. A practicing consultant comes across varied situations while dealing with case of a particular client. The basic requirement for the tax consultant is to appreciate the correct legal position regarding the particular issue or issues he comes across while advising/representing his client. And this can be possible only if the consultant is able to have not only the correct but also an authoritative interpretation of the income-tax provision(s) governing the issue in point. This Set comes as a handy solution to many practice specific Issues arising before the tax consultant in his day-to-day practice that are based, on the latest and most contemporary judicial opinion on the given issue or problem, as the case may be.
In order to support our readers by making available to them the latest trends in judicial interpretations, we are bringing out the present compilation covering some 1049 Practice Specific Issues in the Volume I and 388 Issues in the Volume 2 of the Set; the two together comprising as many as 1437 Issues in all, along with their authoritative solutions. The Issues selected for compilation are practical and there are references to about 1072 case law covering judgments of Supreme Court, High Courts and various Benches of Income Tax Appellate Tribunal in Volume I and 339 in Volume 2. We do not claim that this Set comprises all the practice specific Issues, however, we believe, and sincerely so, that it tries to, as far as practicable, cover all Issues that are relevant as of now for a broad spectrum of income-tax consultants or practitioners. The methodology employed has been to select a particular Issue and discuss it with the help primarily of the most recent case law, after introducing the existing legal position thereabout involving discussion of the related earlier case laws, followed by specifically highlighting the changes in the legal position brought about by the latest one. We have as a matter of fact identified as far as possible, only practical issues, searched out the related cases to arrive at appropriate judicial conclusions and summed up the discussion thereon by taking into account the latest case laws which go, as of now, to conclusively decide the issue in point. The conclusion as drawn out in each case can aptly be said to be authoritative as the same emerges from a latest judicial precedent.
This book comes with the facility of referring to full reports of all case law cited in the book, on our website approachable through a reader specific URL address provided at page (iii) of the book in the very beginning of the Volume I.
We believe that the present Volumes also, like the earlier ones, would be well received by Chartered Accountants, Tax Practitioners and Advocates who practice income-tax law at all levels from Assessing Officer to Supreme Court. This Set is also a unique facility with no parallel. It can be used as a handy referencer to solve newest issues arising in day-to-day practice and be sure, the solution arrived at thereby is likely to be the most appropriate one in almost all cases, raising enormously the chance of winning the case in hand.
In case a Issue in hand is the same or similar to anyone presented in this book, the text herein may practically be used as such while drafting an appeal or revision as the case may be, so we believe.