Articles 30th Jan 2024

Investor Uncertainty and Court’s Response: A Look at Recent Income Tax Notices

Authors

Kumar Visalaksh Partner | New Delhi | Noida
Ajitesh Singh Dayal Senior Associate | Delhi NCR

Latest Thought Leadership

Podcasts 24th Jun 2024

ELP Podcast Series: Ghar Wapsi: Toiling the way to Reverse Flip the Externalised Structures

Read More
Alerts & Updates 24th Jun 2024

Trade Update – June 24, 2024

Read More
Alerts & Updates 24th Jun 2024

Key proposals by the 53rd GST Council

Read More
News & Media 21st Jun 2024

With Legacy Issues Unlikely To Be Resolved, GST Council Expected to Focus on Industry Concerns

Read More

Kumar Visalaksh, Partner & Ajitesh Dayal Singh, Associate, Economic Laws Practice (ELP) have co-authored an article “Investor Uncertainty and Court’s Response: A Look at Recent Income Tax Notices” published by BW Legal World.

The article discusses the recent trend of the Indian Income Tax Department issuing reassessment notices to foreign investors. These notices, which question the source of funds for investments in India without alleging income earned in India, conflict with the government’s claims of simplifying law and promoting ease of doing business. The Delhi High Court, however, has invalidated these notices, emphasizing that investments don’t imply income escapement.

This approach by the tax authorities raises concerns about investor confidence and contradicts principles of international tax cooperation, potentially impacting India’s attractiveness as an investment destination.

For further details, read the full article here