Live Online Certificate Course on Demystifying Sections 68 to 69C: A Deep Dive into Income Tax Provisions with Latest Case Laws

• Scope of section 68 to 69C – deeming provisions
• Amendments in section 68
• What is high pitched assessment?
• Reasons for high pitched assessment
• What is books for the purpose of section 68
• Difference between 68 & 69
• Section 115BBE
• Opportunity of cross examination to be provided
• For addition u/s 68 there should be cash credit in BOA
• Cash credit from non-resident
• No burden on revenue to show that income is from any particular source if the assessee has failed to show the source

Issues

• Whether addition can be made on account of cash credit u/s 68 even if no BOA are maintained?
• Whether scope of section 68 is confined to actual money or not?
• What is the right year of addition u/s 68?
• Whether rough cash books amounts of books for the purpose of section 68?
• Whether loose sheets = books for sec 68?
• Whether passbook = Books for sec 68?
• If primary onus is discharged department should disprove the objections?
• Whether source of source is required to be proved?
• If BOA are rejected then can same books be relied upon for making addition?
• Can assessee ask for telescoping for addition on account of rejection of BOA against addition u/s 68?
• Can sales credited in P&L A/c be added u/s 68?
• Is it necessary to maintain detail like name, address, PAN of sales parties?
• What is the status of transaction during demonetization period?
• Despite addition under this family, can it be under 5 heads of income?
• Is it compulsory to make addition of cash credit in BOA u/s 68 or 69?
• Whether human probability test is applicable?

DAY – 1

• Overview of Customs Laws
• Classification in Customs
• Valuation under customs including Special Valuation Branch
• Import- Applicable duties, exemptions, trade agreements, ITC

DAY – 2

• Export – GST implications, tips for smooth refund, E- way bills, E invoices
• Audit, Re-assessment, Appeals etc.
• Advance ruling under Customs vs GST
• Penal consequences under Customs Laws

DAY – 3

• Special concepts such as Free Trade Agreements, Preferential Trade Agreements, Anti-dumping duty recommendation, AEO etc.
• Overview of FTP and export incentives

DAY – 4

• Detailed discussion on EOU/SEZ and Manufacturing under Bond/FTWZ/Service exports/comparative analysis
• Questions & Answers