Commercial The Income Tax Bill 2025 An Insight view By D. P. Mittal Edition April 2025

The Income Tax Bill 2025 An Insight view By D. P. Mittal

The Income Tax Bill 2025 An Insight view By D. P. Mittal

About Book:

The book, with the title “Income tax Bill, 2025 – An Insight view”, deals with an insight analysis of some of its provisions in 8 Chapters with a view to drawing attention to serious consequences as regards interpretation and implementation. In an attempt to enable taxpayers understand the tax laws, some provisions are not enacted but formulated in the form of mathematical formulae or algebraic equations. Perhaps for the first time legislature would speak through symbols, equations and tables and not through words, throwing new challenges to the taxpayer, administrators and courts to find legislative intent. So far courts have been interpreting law from the words of the legislation in which the legislative intent is expressed. Perhaps also for the first time, substantive law is not part of the main enactment but is placed under schedules and sometimes in a tabular form.

The legislative drafting tools such as “proviso”, “explanation”, “notwithstanding” have been done away with and replaced with expressions such as “when”, “which” and “irrespective of”, whose legal implications have yet to be ascertained with the attendant uncertainty for the taxpayer as well as for the Revenue, giving rise to a spurt of litigation. Clarificatory, explanatory and excepting provisions are now placed as subsections giving them substantive character upsetting the very purpose the said drafting tools are intended for. Tax laws cannot be simplified beyond a point Three decades ago in 1996, an Expert Committee warned us of the dangers of over simplification in the following words and suggested that the present Act be retained with some modification.

About the Authors

D. P. Mittal, B.Sc., BA (Economics), LL.B., is an advocate, tax and business law consultant. He has a long experience in administering tax laws as an officer of Indian Revenue Service and in advising investors and entrepreneurs on legal and tax aspects of investment in India as an advocate now and previously as a senior adviser in the Indian Investment Centre, New Delhi (a Government of India Organization). He has authored widely acclaimed books – Principles of Constitutional and Administrative Law; Interpretation of Statutes, Wills and Deeds; Law Dictionary; Principles of Business and Commercial Laws; Competition Law; Law relating to Limited Liability Partnership; Administrative Law; Arbitration Law; Law of Trademarks, Passing Off and Geographical Indications; Law of Patents; Information Technology Law; Law of Benami Transactions; Law relating to Formation of Companies; Law relating to Company Meetings and Resolutions; Law relating to Corporate Financing; Law relating to Investigation; Indian Double Taxation Agreements and Tax Laws in India; GAAR; Law of Transfer Pricing in India; Treatise on Direct Tax Code; Law of Sick Industries; Offences and Prosecution; and many more, besides more than two hundred research articles in various Journals and magazines.